CEO’s Message
Since inception in 1997, TEDC has been promoting the need to better understand the issues and challenges associated with living in a region which is experiencing a sustained period of population growth. It has been our long held view that it is only by developing an informed understanding of the facts associated with these challenges, that we would be able to provide the leadership and direction necessary, to assist in the development of policies and strategies at the local government level, which will deliver social and economic sustainability long into the future. The Tweed is nationally recognised as one of the most desirable and fastest “lifestyle choice” population growth regions in Australia.
Conservative population projections suggest a Tweed population of in excess of 120,000 people by 2031. TEDC research confirms the need to balance this population growth, particularly in the high aging demographic, with associated job growth as part of a strategy of addressing the current and projected population demographic imbalance. This can only be achieved by attracting the type of business investment which will provide long term sustainable job growth.
TEDC research confirms the need to generate some 25,000 jobs by 2031 if we are to achieve a 50% Work Participation Rate (WPR) currently 42%. This current 42% WPR equates to only 30,522 people in full time equivalents actually earning and income and living in Tweed Shire, with 11,000 of the 30,522 leaving the shire each day to work in other places. To put it another way; there are only 19,294 self employed and employees in full time equivalents actually living and earning an income in Tweed shire.
These projected job targets are even more significant when associated with a higher than average high age demographic co-hort. The social phenomenon of population ageing is gradually changing the economic structure of many countries and regions, including the Tweed. Whilst the primary impact is felt in the workforce and employment, flow-on effects to productivity, growth and output are significant. Changes in the dependency ratio, savings ratio and government revenue and expenditure, lead to slower growth and lower productivity if they are not redressed by government policies.
The Tweed has a high proportion of ageing people in the general population, with 28% of people in the Tweed over 60 years of age, compared to a State average of 17%. Population projections suggest that by 2031, 38% of the Tweeds population will be over 65 years which equates to 45,600 people.
The regions many lifestyle attractions, active community living be it coastal or country, recreation and leisure options, natural environment, a wide range of cultural attractions and lifelong learning and educational opportunities contribute towards high levels of population growth and the migration of retirees from metropolitan centre’s to the Tweed.
TEDC in partnership with Tweed Shire Council have initiated and identified a number of strategies which suggest 2010 will be the beginning of a new era in the Tweed where the long term strategy and focus is on creating a climate and culture which encourages and facilitates, the type of investment opportunities which generate and attract employment of the younger generation.
