2015-16 Annual Report 2015-16 Annual Report | Page 8

Mayor Paul Antonio and CEO Brian Pidgeon 1.1 Mayor and CEO welcome message Welcome to the Toowoomba Region, a region rich with tradition and bold with ambition. Our region is recognised as one of Australia’s most diverse and stable economies, with robust commercial and industrial enterprises. The industry sectors that drive the region’s economy include education and training, finance, oil and gas servicing, agriculture, health care and social assistance, wholesale and retail trade, public administration, manufacturing and coal mining. Recent economic modelling from the Australian Bureau of Statistics (ABS) and the Australian Tax Office (ATO) show the region’s Gross Regional Product (GRP) is moving towards $10 billion with a growth rate of 3.21 per cent during 2014-15. Further, for the same period, our region was one of only four of the top 10 ranked regions to increase our percentage of Queensland’s overall GRP. Toowoomba is now ranked seventh ahead of major centres Ipswich and Cairns and just behind sixth-placed Logan. Home to around 14,473 businesses, Toowoomba is also the gateway to Queensland's resource-rich Surat Basin. Our proximity to this region, coupled with our strong economic indicators cement the region as a competitive, diverse economy base. a new jet-capable airport, the commencement of construction of the TSRC (Australia’s biggest ever inland road project) and our place on the proposed Melbourne to Brisbane inland rail corridor, will open remarkable opportunity for the region to become a leading intermodal transport hub for Eastern Australia. Through this enhanced connectivity to national and international markets, there is more opportunity than ever to take our rich agriculture sector to new heights. We now have the ability to take the best produce Australia has to offer to the rest of the nation and the dining rooms and boardrooms of Asia. Our future is bright and there has never been a better time to live, visit and invest in the Toowoomba Region. This report captures our main achievements from the last financial year to show how we have been performing on Council’s vision for the 2015-16 financial year. We are elevating these qualities, resources and opportunities through a newly elected team of Toowoomba Region Councillors and an Executive Management Team who are committed to delivering high-quality, value-formoney services to improve our community. Our GRP figure is a result of significant increases across financial and insurance services, construction, agriculture, health care and social assistance sectors. There has been more than a decade of consecutive growth in this region and this underlines the diversity and depth of the local economy. Toowoomba is well placed to continue this substantial growth. Recent major infrastructure projects including 8 CHAPTER 1 Our region at a glance Paul Antonio Mayor Brian Pidgeon Chief Executive Officer TOOWOOMBA REGIONAL COUNCIL Annual Report 2015 - 2016