Community & Business
21 December, 2024
Economic snapshot paints positive picture
CONNECTING our region to the coast through a reliable and efficient route is the key to the future economic prosperity for the Mareeba Shire, according to an annual economic snapshot released this week.
The Mareeba Chamber of Commerce annual snapshot was released at the organisation’s AGM on Tuesday night which also featured guest speaker, the newly-elected Member for Cook David Kempton.
The publication provides an overview of the shire – its economy, liveability, projects, services and industries.
Of note in the past 12 months was the noticeable rise in real estate prices.
“The median house price for the region has grown by more than 15% over the past 12 months and over the past five years, houses have seen a 60.18% increase in median value,” the article states.
The article attributes the rise to an influx of new residents, with people seeking a “post-pandemic shift” in lifestyle preferences.
People from urban areas were seeking more spacious and affordable living options, and Mareeba offered the “perfect blend of charm and modern amenities”.
The region’s economic stability had also played a role in making the shire’s an attractive place to live, work and invest, and with tourism, agriculture and mining all on the increase, this trend is set to continue.
The shire’s focus on improving liveability is having a positive impact in attracting new residents, but is also providing much better facilities and recreational spaces for existing families.
To that end, the council has been delivering new facilities and improving existing ones, and this will continue in 2025, with the progression of the redevelopment of Bicentennial Lakes precinct, and, in the coming years, upgrades to Mareeba’s CBD.
Health and childcare facilities are also improving, and events in the shire are becoming a more integral part of the overall economy, led by annual gatherings such Savannah in the Round which was the biggest ever in 2024 since the festival started.
In his message, Chamber president Joe Moro said the Mareeba business community had thrived in the face of a challenging season for farmers and tourist businesses.
“The Mareeba Chamber of Commerce has continued working through these trying times, providing advocacy, support and guidance to our members,” he said.
He said the business community was looking forward to working with the new Member for Cook and lauded his decision to locate his office in Mareeba so everyone has greater access to the state representative.
In her message, Mayor Angela Toppin said the shire continued to attract new residents, and growth in its Gross Regional Product which was $1.47 billion at the end of June 2023, representing a modest 0.5% increase.
“The health care and social assistance industry and the construction industry saw the largest increase of new registered businesses, with 15 new businesses each,” she said.
