Business is booming throughout Ipswich, with the economy surpassing the $13 billion mark for the first time in the city’s history.
For the second successive year, the city’s Gross Regional Product – measuring the total value of goods and services produced in a region – has risen greatly.
Manufacturing contributes $2.7 billion, making it Ipswich’s largest export, while 573 new businesses made the city home between 2022 and 2023, bringing the total number of local businesses to 12,382.
Ipswich Mayor Teresa Harding told Local Ipswich News that the growth showcased the success of business throughout the region.
“This almost $1 billion in growth since the same time last year is another promising sign for our rapidly growing city’s future and for our economic resilience,” Cr Harding said.
“I am always keen to support small, medium and large businesses and promote Ipswich businesses and services wherever I go.
“Across Australia, 42 per cent of the private sector workforce are employed in small businesses. Our local businesses not only provide goods and services for our community, but they also create and provide jobs and generously support many community and sporting groups in Ipswich.”
Cr Harding said Council continued to create an environment for the local economy to flourish by becoming the State’s first Small Business Friendly Council, waiving fees during COVID, injecting money into the local economy through grants, and redeveloping the city centre.
“One of the first things that Council did in 2020 was introduce a Buy Ipswich approach to council’s procurement. In the last financial year alone, this resulted in Council spending more than $109 million with local businesses,” she said.
“Ipswich business people are some of the most innovative, resilient and adaptable people I have met and they show their support for the community.
“Unemployment levels, particularly with our young people, have been troubling in recent years. But these figures buck the trend and show with business growth across the city, there are new jobs coming on the market.
“This makes Ipswich the ideal place for people to live, work and play.”
