Griffith’s business chamber has raised concerns over an apparent decrease in Griffith’s Gross Regional Product (GRP)
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Figures from an independent source show Griffith City’s Gross Regional Product was $1.39 billion in the year ending June 2016, declining -1.3% since the previous year.
Business Chamber President Paul Pierotti says despite significant investment in the area, it’s concerning that we’re still losing money.
“The fact is that Griffith LGA is the biggest economy within the western Riverina. We’re just about 200 million a year down as we stand. That will probably continue to happen,” he said.
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“In spite of massive investment in Griffith some big companies we’re still seeing a pretty steady decline in our local economy.”
He raised concerns over Griffith’s exclusion from socio-economic statistics released by the Murray Darling Basin Authority (MDBA) in February.
Figures show an economic decline in Griffith’s Local Government Area (LGA) since 2010, seeing a loss of almost $200 million across six years.
Mr Pierotti says he would like to see further research on a regional level from an independent body.
The Business Chamber presented these findings at a productivity inquiry into the MDBA on Friday.
According to findings released by the Murray Darling Basin Authority (MDBA), smaller towns around the region have seen a similar decline in both workforce and economic growth.
Coleambally saw a 21 per cent decrease in its workforce between 2001 and 2016. Around three quarters of these job losses occurred between 2011 and 2016.
In spite of massive investment in Griffith some big companies we’re still seeing a pretty steady decline in our local economy.
- Paul Pierotti
Griffith City Council Mayor John Dal Broi said he would to further examine the figures put forward.
“I’d like to give these figures further analysis,” he said.
“We’ve definitely seen some big investment over the last few years. I’d like to see where we fell in the last financial year with big expansions from companies like Baiada.”
