2016-11-08 Services & Organisation Committee Agenda

Gross Regional Product
Noosa Shire produced just under $2.6 billion in gross         health care, retail and construction being the fastest
regional product (GRP) in 2013-14. This was an increase       growing sectors.
of 5.6% on the previous year, compared to 1.8% and 2.3%
increases for SEQ Region and the State respectively. The      Electricity, gas, water and waste services generated the
Noosa economy experienced stronger growth than the            highest GRP per employee at $429,461 per employee,
SEQ Region and Queensland as a whole, on average over         followed by financial and insurance services at $291,199
the last five years. Noosa’s GRP averaged 2.5% per annum      per employee, and rental, hiring and real estate services
growth over the last five years compared to 2.2% for SEQ      ($151,638 per employee).
Region and 2.1% for Queensland as a whole.
                                                              Conversely the major Noosa Shire industries of retail trade
Industry sector contribution to the economy in terms of       and accommodation and food services generate lower
industry value add to gross regional product, again clearly   GRP per employee-$54,806 and $42,788 per employee
reflects the structure of the economy with                    respectively.



                      Noosa Shire Historical GRP and Growth Rate - Source: AEC (unpublished)




                         Noosa Shire IVA Breakdown (2013-14) - Source: AEC (unpublished)




                                                                                       Noosa Shire | Local Economic Plan | Page 37