News
Issue No. 30 - August/September 2006
Engine room shows the way for the rest of SA
Described as ’the engine room of South Australia’, the northern metropolitan City of Salisbury has consistently outperformed the rest of the State, according to a new economic report.
Professor Dick Blandy's report estimates Salisbury’s gross regional product at just under $2.7 billion, about 4.6% of SA's economy.
Prof Blandy observes that from 1991 to 2005 Salisbury’s economy grew at an average rate of 2.9% per annum, compared to 2.5% for South Australia as a whole.
But over the past five years, Salisbury grew much faster than the State economy (4.2% p.a. compared to 3.0% p.a.).
Roughly the same story is true of employment: jobs in Salisbury grew by 2.1% per annum in the 1991-2005 period compared with 0.7% for the State as a whole; with Salisbury job growth accelerating to 3.2% per annum (compared to 1.5% p.a. for the state) in the past five years.
Prof Blandy finds the significant growth sectors for the Salisbury economy have been:
- Manufacturing (25% share, declining slightly),
- Wholesale trade (7% share, increasing moderately),
- Transport and storage (7% share, increasing rapidly),
- Communication services (5% share, increasing very rapidly),
- Property and business services (10% share, increasing rapidly), and
- Government administration and defence (9% share, being maintained).
"In the fast growth scenario, Salisbury’s GRP will reach $4 billion (compared with $2.7 billion now) representing 5.1% of South Australia’s GSP. Employment (local jobs) in Salisbury will reach 42,000 compared with 33,000 now," Prof Blandy states, noting that 80% of the extra jobs created will require a post school qualification.
"In the slow growth scenario, Salisbury’s GRP will reach $3.3 billion (compared with $2.7 billion now) representing 4.2% of South Australia’s GSP (compared with 4.6% now). Local...
