Confidence in South West economy - 4 February 2009
Local business and community leaders have joined forces to support the local economy through the global financial crisis and encourage ongoing support from investors.
A joint initiative of the Bunbury Chambers of Commerce and Industry and the South West Development Commission, the newly-formed coalition will work to stave off the full force of the worldwide economic downturn by promoting the region’s many strengths.
Meeting yesterday for the first time, they said the Bunbury area continued to shine despite the gloomy economic forecast.
Bunbury Chambers of Commerce and Industry president David Kerr said the region had a diverse economy which generated A$9.867 billion during 2007/08 and was well placed to ride out economic uncertainty and leverage off long term opportunities.
“While there are some businesses experiencing tough times, there are also success stories coming out of the region,” he said.
“There are major projects taking place in the area that are having a positive effect on the local economy,” he said.
“The Worsley expansion for instance is valued at $2.5 billion – a tremendous boost to the economy on its own. But there also trickle-on effects for local businesses.”
South West Development Commission chief executive Don Punch said there were other large projects set to or already pumping billions of dollars into the local economy.
These included the New Perth-Bunbury Highway, Bunbury Outer Ring Road, Bunbury Port Access Road, Binningup Desalination Plant and this week’s announcement of 40 new dwellings for Bunbury through the State Government’s social housing program.
“The business coalition has come together out of recognition that the strengths of the economy are being overlooked because people are naturally concerned with the financial crisis,’ Mr Punch said.
“We think it’s important to make sure everybody has access to information that highlights how our economy is performing and provide opportunities to help inform business decision making.
“This will help ensure the region continues to prosper and remains an enviable place in which to live and work.
“In the coming weeks and months, the coalition will gather information about what’s happening in the local economy, inform people of developments, advice local and State Government about projects and business situations, and form appropriate responses to any issues that may arise.”
…ENDS
Media contact:
Teneille Watson
Community Relations Officer
M: 0417 961 051