State Treasurer outlines positive economic outlook at City of Wanneroo Business Breakfast
Published Friday, 30th August 2019
The Western Australian Treasurer Ben Wyatt MLA delivered the Keynote Address at the City of Wanneroo Business Breakfast this morning.
The City, along with Member for Wanneroo Sabine Winton MLA, collaborated to invite the Treasurer to the event which saw nearly 100 business, industry and political leaders register to attend.
The Treasurer said the City of Wanneroo provides a valuable contribution to the WA economy.
“While the ABS does not publish gross product below the State level, estimates compiled by consultants and the National Institute of Economic and Industry Research (NIEIR) indicate that Wanneroo had a Gross Regional Product (GRP) of almost $7 billion in 2017-18, growing at 5.3% in that year,” he said.
“The largest industries in the area in gross value added were construction ($932.5 million), manufacturing ($714.8 million), wholesale and retail trade combined ($857.3 million), education and training ($432.8 million) and health care and social assistance ($367.7 million).
“It is now the second most populated local government area in Western Australia (203,679 in 2018) and is expected to overtake Stirling as the most populated in a few years’ time.
“Last year (2018-19), five of the top 20 first home buyer suburbs were in the City of Wanneroo, including Alkimos, Yanchep, Eglinton, Banksia Grove and Landsdale.
“The largest cohort of population along the North West Corridor (Wanneroo, Joondalup and Stirling) is relatively young, with the largest share of people aged between 25 and 44.
”In order to keep pace with a fast growing young population, the Government is making substantial investments along the Northern Corridor, including health, education, roads and rail and community services.
“These will support emerging communities and open opportunities for local business.
“The State is investing more than $500 million in the Yanchep Rail Extension to support ongoing population growth and reduce congestion.
“The 14.5km rail line from Butler will include stations at Alkimos, Eglinton and Yanchep – all within the City of Wanneroo. Works are expected to start this year. This will be a transformational project.
“Australian Bureau of Statistics data released yesterday showed private new capital expenditure is increasing - up 5 per cent in the June quarter.
“WA recorded the highest increase of any state, and is one of only two states that recorded any growth (NSW the other). WA is best performing state in the country,” the Treasurer said. Mayor Tracey Roberts said the City continues to enjoy a productive and positive relationship with the Treasurer and State Government, which benefits the local community.
“The Treasurer acknowledged the enormous growth in the City of Wanneroo and the fact that since 2001, the City has grown at three times the state average.
“We have more than 210,000 residents and that’s expected to almost double over the next two decades.
“That growth has presented unique challenges for the City which continues its strategic planning to ensure the aspirations of the community are met.
“I was pleased to hear the Treasurer acknowledge the importance of having access to jobs close to home, to reduce commuting time for residents and the need for wellplanned public transport services.
“I thank the Treasurer for making time in his busy schedule to present the Keynote Address and also answer questions from local business, education and political representatives.
”The Treasurer provided valuable insights into the economic climate in WA and the challenges faced by growing areas like Wanneroo and the City looks forward to continuing its collaborative relationship with the State Government,” Mayor Roberts said.
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