October 22, 2019
The Toowoomba region is avoiding the “boom and bust” cycles of other areas, according to Mayor Paul Antonio.
Toowoomba Regional Council’s 2018-19 Annual Report, adopted on Tuesday, shows the Gross Regional Product for the Toowoomba Region over the past 12 months was just over $10.81 billion, up 4.5 per cent.
“Our average growth over the past 10 years is around 3.6 per cent each year, exceeding the State average of 2.1 per cent,” Mayor Antonio said.
He said the Toowoomba Region was a diverse and stable economy which was avoiding boom and bust cycles.
“While I’m proud of the things we’ve achieved over the past year, it’s important to acknowledge that local government cannot be left to shoulder the full cost of providing essential infrastructure for our growing communities, while meeting residents’ increased expectations across other activities,” Mayor Antonio said.
“We will continue to advocate for our fair share of funding to achieve community goals and ambitions.”
Finance Portfolio holder Cr Megan O’Hara Sullivan said Council played a leading role in contributing to the local economy.
“Over the past financial year Council injected $475 million into the economy, including operational expenditure of $322 million and a capital program of $153 million,” she said.
“Our financial position is sound and we are working hard to ensure we continue to maintain the balance between delivering value-for-money services, while continuing to invest in infrastructure initiatives to secure our future.”
- TRC Annual Report video
