Tourism And Building Boost For State's North

The Age

Monday July 5, 1999

PHILIP HOPKINS

The Goulburn Valley economy is enjoying strong growth, with demand for labor, building approvals and tourism takings above the state average, new figures show.

Residential building figures have been spectacular; in the three months to January 1999, the value of residential approvals in Greater Shepparton was 220.5 per cent higher than the same period the previous year, according to the latest economic monitor from the City of Greater Shepparton.

In the same period, residential approvals in rural Victoria and all of Victoria rose respectively 4.2 per cent and 10.1 per cent.

The monitor said that Greater Shepparton's employment advertisement index for the 1999 March quarter was 159.8, a rise of 37.8 per cent on the same period last year and 40.5 per cent higher than the December quarter,

``This indicates a strong demand for labor in the region," the study said. Compared to the ANZ Job Advertisements Index for Victoria, Greater Shepparton had stronger growth over the same periods.

The index of retail, industrial and commercial building approvals in the city was very strong throughout last year, reflecting developments such as upgrades at the Tatura milk plant and Ardmona fruit plant.

The study showed that the sector had gone through a see-saw period; in the three months to January 1998, the value of approvals in the sector was 59.5 per cent higher than the same period a year earlier. However, it had recently fallen to the state average, and had been offset by residential approvals.

The study showed the growing importance of tourism to the Goulburn Valley economy.

Total visits last year to Greater Shepparton's information centre were 40,840, a rise of 14.2 per cent on the previous year and 46.4 per cent higher than 1994, when counts began. Shepparton has also become an important regional shopping centre.

Tourist accommodation takings in the December quarter were 11.6 per cent higher than for the same quarter in 1997 and the region's wineries and rivers were increasingly popular, as were factory sales at the fruit companies SPC and Ardmona.

© 1999 The Age

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