KEY economic data reveals the Ipswich economy has smashed through the $12 billion mark for the first time.
In the 12 months ending 30 June 2022 the Ipswich Gross Regional Product reached $12.183 billion which represents a growth of 5.31 per cent or $614 million on the previous year.
The Gross Regional Product is the amount of region’s wealth which is generated by businesses, organisations and individuals working in the area.
The Ipswich data compared favourably with other councils and the state, with only the Gold Coast recording a higher percentage rate of growth.
An analysis of the total exports by industry sectors in the City of Ipswich in 2021-2022 shows the three largest industries were manufacturing ($5.216 billion or 40.3 per cent), public administration and safety ($3.190 billion or 24.7 per cent), and transport, postal and warehousing ($1.053 billion or 8.1 per cent). The report also revealed that in the 2021-2022 financial year Ipswich had 89,135 local jobs registered, with 46.5 per cent of people employed locally.
In the January to March 2023 quarter, there were 12,064 registered businesses with 453 new businesses opening their doors in the year.
