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Economic Profile 2020

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Economic Profile 2020 2020 OPPORTUNITY GROWTH LIFESTYLE DISCLAIMER All figures and data presented in this document are based on data sourced from the Australian Bureau of Statistics (ABS), and other government agencies. Using ABS datasets, the regional economic modelling software ‘REMPLAN Economy’, has been applied to generate industrial economic data estimates. This document is provided in good faith with every effort made to provide accurate data and apply comprehensive knowledge. However, REMPLAN does not guarantee the accuracy of data nor the conclusions drawn from this information. Economic Development Department (07) 5689 1499 / (03) 5444 4788 1300 MACKAY (622 529) www.remplan.com.au [email protected] www.investmackay.com 2020 CONTENTS 06. OVERVIEW 34. HOUSING 08. DEMOGRAPHICS 44. TOURISM 18. EMPLOYMENT 52 . TRENDS 22. INDUSTRY 60. RESOURCES 6 MACKAY REGION OVERVIEW WELCOME TO THE MACKAY REGION: 7 Mackay’s employment, investment and development opportunities, buoyant economy and lifestyle attributes are just some of the many positive aspects that encourage people to live, work and play in the Mackay region. MACKAY REGION Mackay is a thriving regional centre with a population of almost 117,000 people. Our local economy is diverse and supported by strong activity in the resources sector, resurgence in agribusiness, and growth in construction, logistics, education and tourism. Our economic landscape is innovative, forward thinking and full of exciting opportunities. OVERVIEW Mackay is the gateway to the rich coal deposits in the Bowen and Galilee Basins and hosts much of the engineering, manufacturing and mining services industries supporting the resources sector. It is one of the leading sugar-producing regions in Australia and is home to one of the country’s largest producer of ethanol products. Mackay is on a journey of re-inventing itself and transforming our regional economy. We are embracing transformation to capture future opportunities and to ensure our region remains relevant and continues to grow and thrive. We are committed to harnessing our region’s strengths, forging positive economic partnerships and continually diversifying what we have to offer. Only an hour’s flight from Brisbane, the Mackay region boasts an enviable lifestyle and a thriving economy with the benefits of a fast-growing coastal city. Its coastal location is complemented by its spectacular natural environment. This includes 31 beaches, a picturesque blue river and a pristine rainforest hinterland. This profile presents economic and demographic data for the Mackay region. For further information on the Mackay region, please contact the Mackay Regional Council’s Economic Development team – phone: 1300 622 529 or (07) 4961 9530. The industry sectors which are the key drivers of the Mackay region’s economy in terms of regional exports, employment, value-added and local expenditure on goods and services (backward linkages) are recognised as key propulsive industries. At the 114 industry sector level, the industry sectors which ‘ranked’ in the top 12 in terms of regional exports, employment, value-added and local expenditure on goods and services (backward linkages) are: > Pre-School, Primary, Secondary & Special Education > Construction Services > Wholesale Trade > Coal Mining > Other Agriculture > Professional, Scientific & Technical Services > GRP - $9.132b > Road Transport > Population – 116,539 > Retail Trade > Strong population growth forecast, heading > Public Administration & Regulatory Services towards 160,000 over the coming decades > Other Repair & Maintenance > Gateway to the Bowen and Galilee Basins > Sugar & Confectionery Manufacturing > Located an hour’s flight to Brisbane > Health Care Services > Great Barrier Reef located just off shore Mackay Economic Profile | 2020 8 M ACK AY DEMOGRAPHICS HOME TO 116,539 PEOPLE EXPECTED TO GROW BY 34,710 PEOPLE BETWEEN 2021 TO 2041 9 The estimated resident population in the Mackay region as at June 30, 2018 is 116,539 people. Since 2014, there has been population decline. Despite this, between 2008 and 2018 the Mackay region (estimated resident) population increased by 7,895 people (7.3%), with an average annual compound population growth of 0.7% between 2008 and 2018. M ACK AY 125,000 120,000 DEMOGRAPHICS 115,000 110,000 105,000 118,916 118,878 118,292 117,218 116,601 117,495 116,539 115,960 113,699 100,000 111,455 108,644 95,000 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 The majority of population increase in the Mackay region during 2008 to 2018 occurred in Eimeo - Rural View, which increased by 4,282 people, an annual average increase of 4.1%. Pioneer Valley (+2,397) and Ooralea - Bakers Creek (+1,732) experienced the next highest levels of population increase over the last ten years. North Mackay followed by Slade Point and Shoal Point experienced the largest declines between 2008 and 2018. Population (ERP JUNE 30) Population Change (Ann. Avg) Statistical Area Level 2 2008 2013 2018 08-13 13-18 08-18 Andergrove - Beaconsfield 14,572 15,099 15,412 0.7% 0.4% 0.6% East Mackay 3,734 3,763 3,543 0.2% -1.2% -0.5% Eimeo - Rural View 8,554 11,670 12,836 6.4% 1.9% 4.1% Eungella Hinterland 0 9 16 - 12.2% - Mackay 3,973 3,897 3,646 -0.4% -1.3% -0.9% Mackay Harbour 493 558 554 2.5% -0.1% 1.2% Mount Pleasant - Glenella 10,2095 11,017 10,962 1.5% -0.1% 0.7% North Mackay 6,817 6,855 5,968 0.1% -2.7% -1.3% Ooralea - Bakers Creek 3,498 4,806 5,230 6.6% 1.7% 4.1% Pioneer Valley 6,028 8,003 8,425 5.8% 1.0% 3.4% Sarina 11,372 12,096 11,597 1.2% -0.8% 0.2% Seaforth - Calen 8,372 8,555 8,176 0.4% -0.9% -0.2% Shoal Point - Bucasia 4,910 5,822 6,011 3.5% 0.6% 2.0% Slade Point 4,001 3,802 3,234 -1.0% -3.2% -2.1% South Mackay 7,396 7,440 6,595 0.1% -2.4% -1.1% Walkerston - Eton 8,162 8,765 8,177 1.4% -1.4% 0.0% West Mackay 6,553 6,721 6,157 0.5% -1.7% -0.6% Mackay region 108,644 118,878 116,539 1.8% -0.4% 0.7% Source: ABS, Estimated Resident Population, 3218.0, Table 3. Mackay Economic Profile | 2020 10 The following data is sourced from the Queensland Government population projections, 2018 edition (medium series). Between 2021 and 2041, the population of the Mackay region is projected to increase by 34,710 people. The average annual projected population growth between 2021 and 2041 of 1.2% is higher than the average growth rate experienced over the previous 10 years (0.7%). Between 2021 and 2041, Shoal Point – Bucasia is anticipated to sustain the highest average annual growth rate in the broader Mackay region growing at 3.1% per annum while Eimeo – Rural View is anticipated to have the largest population increase with an additional 7,241 residents by 2041. POPULATION PROJECTIONS – MACKAY (R) Avg Annual Change Statistical Area Level 2 2021 2026 2031 2036 2041 2021-2031 2031-2041 Andergrove - Beaconsfield 15,415 15,852 16,239 16,576 16,730 0.5% 0.3% East Mackay 3,656 3,743 3,795 3,926 4,042 0.4% 0.6% Eimeo - Rural View 13,995 15,969 17,589 19,253 21,237 2.3% 1.9% Eungella Hinterland 16 16 16 16 16 0.1% 0.1% Mackay 3,859 4,017 4,145 4,396 4,653 0.7% 1.2% Mackay Harbour 717 906 980 1,087 1,200 3.2% 2.0% Mount Pleasant - Glenella 12,101 12,965 13,863 15,037 15,504 1.4% 1.1% North Mackay 6,350 6,485 6,641 6,966 7,269 0.5% 0.9% Ooralea - Bakers Creek 5,622 6,279 7,122 7,614 8,308 2.4% 1.6% Pioneer Valley 9,134 9,516 10,307 10,942 11,700 1.2% 1.3% Sarina 12,414 13,283 14,199 15,646 17,224 1.4% 2.0% Seaforth - Calen 8,523 8,941 9,288 10,025 10,870 .9% 1.6% Shoal Point - Bucasia 6,300 6,824 8,493 9,912 11,681 3.0% 3.2% Slade Point 3,553 3,567 3,561 3,544 3,517 0.0% -0.1% South Mackay 6,763 6,888 6,990 7,111 7,256 0.3% 0.4% Walkerston - Eton 8,780 8,918 9,285 9,559 9,888 0.6% 0.6% West Mackay 6,373 6,549 6,692 6,917 7,187 0.5% 0.7% Mackay region 123,570 130,714 139,205 148,527 158,280 1.2% 1.3% Source: Queensland Government population projections 2018 edition; (medium series), by Statistical Area 2 (SA2), SA3 and SA4 Queensland, 2016 to 2041 POPULATION PROJECTIONS BY AGE COHORT – MACKAY (R) 0-14 15-29 30-49 50-64 65-79 80+ Total 2021 25,541 23,041 32,595 24,076 14,153 4,165 123,570 2026 26,068 24,384 34,016 24,229 16,748 5,270 130,714 2031 27,235 25,773 36,535 24,149 18,623 6,889 139,205 2036 28,824 27,146 38,542 25,300 20,097 8,618 148,527 2041 30,541 28,325 40,829 27,176 20,915 10,493 158,280 2021-2041 5,000 5,285 8,234 3,100 6,762 6,329 34,710 11 POPULATION PROJECTIONS BY AGE COHORT - MACKAY (R) 2021 2031 2041 50,000 40,000 30,000 20,915 20,000 18,623 14,153 10,493 25,541 27,235 30,541 23,041 25,773 28,325 32,595 36,353 40,829 24,076 24,149 27,176 10,000 6,889 4,165 0 0-14 15-29 30-49 50-64 65-79 80+ TOP 10 QUEENSLAND LGAS POPULATION GROWTH (2021 - 2041) From 2021 to 2041, the Mackay LGA is projected to be the 9th largest growing LGA from a total of 78 LGAs in Queensland.
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