Tamworth is a leader when it comes to attracting people and investment.
Population growth was measured at 1.9% in 2009 - the second highest rate of population growth in inland NSW. In addition to new residents Tamworth is increasing the numbers of new businesses that start up each year.
Tamworth has a strong and diverse economy that saw approximately $205 million worth of construction activity in 2009/2010. This followed approximately $233 million worth of approved development and construction activity in 2008/2009.
Growth has occurred across all sectors including residential dwellings, industrial and commercial buildings, and there’s been a three-fold increase in new community and recreational facilities.
The activity levels for new subdivisions remain high in both residential, rural residential and industrial developments suggesting demand is driving the release of more land stocks.
Tamworth region unemployment rates remain lower than the regional NSW, state and national figures at 5.6%. Tamworth has experienced an increase in GST-registered businesses. This demonstrates positive business confidence in the local economy. Tamworth has over 11,000 registered businesses.
A Regional Economic Development Program is being prepared by Tamworth Regional Council. This program will provide a springboard for strategic planning which will support economic growth in the region for the next 10 years.
Key growth areas have been identified in transport and food processing as well as new and emerging sectors such as education and aviation. The program will provide new directions for strategic planning and ensure that the region’s strong economic growth is facilitated and supported by Council. A special revitalisation strategy is driving development and growth in the city’s major industrial precincts and that is providing new and future opportunities for business and investment.