Economics of Central Western NSW

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Economics of Central Western NSW

• by the
• Western Research Institute
• At
• Charles Sturt University
• 10th May 2006

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Outline

• Where it is
• Demographics
• Household Income Expenditure
• Industry Structure
• Key Sectors
• Tourism
• Innovation
• Strengths
• Opportunities
• Conclusion

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(No Transcript)
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Demographics

• Population 178,000
• Growth rate 0.2
• Bathurst 36,000
• Orange 38,000
• Lithgow 23,000
• Parkes 15,000

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Household Income Expenditure Average Income

• Central West 37,470
• NSW 43,651
• Sydney 46,871

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Household Expenditure

• Total 2 billion
• Per Person 12,000
• Food Beverage 18
• Housing 15

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Industry Structure
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Key Sectors MiningValue of Mining in the
Central West
Source Newcrest Mining Ltd Havilah Resources
NL Rio Tinto News release, Fourth Qtr 2003
Production Report.
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Manufacturing

• Food Beverages 579m
• Machinery Equipment 483m
• Wood Paper Products 159m
• Other 396m

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Agriculture

• 5 million hectares
• 1 billion value 2001
• Crops, grazing, horticulture, viticulture
• Cool climate wines

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Education and Health
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Tourism

• Million visitors staying an average 2.7 nights
• Tourist expenditure 144 million per year
• Key attractions Zig Zag Railway, Mt Panorama,
  Mudgee/ Orange Food/ Wine, Cowra Japanese
  Gardens, Parkes radio telescope and Forbes
  historic buildings

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Innovation

• Murray Cod Fish Farm
• Bicycle wheel
• Occupational Health Safety
• Orange/ Mudgee Farm Field Days

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Strengths

• Close Proximity to Sydney
• Skilled Stable workforce
• Lifestyle un-congested, culture, education and
  health
• Diversified Economy
• Cheaper property prices

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Alexander Graham Bell
Communications Transport
1847-1922
The first words spoken into a telephone
were Watson, come here, I want you. Result
Created and saved a trip.
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Opportunities

• Unrealised business opportunities (look East)
• Four Lane Expressway over mountains
• Export Orientation
• Transport Logistics Hub

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Conclusion

• Central West a place of Vibrancy, Lifestyle and
  Opportunity