Economy
Economy
Poised for growth and ready for take-off
In Armidale we’re creating our own future, a future of energy independence, water sustainability and the latest cutting-edge technology and techniques that will give Armidale industry centre stage in Australia. Our creative and vibrant community of global interests and experiences are working together, to build on our excellence in education, agriculture and health, and capitalise on the plentiful opportunities that exist in the region.
Strong economic outlook
Armidale, set in the heart of the New England high country, is the major educational, commercial, retail, and cultural centre for a greater regional population of close to 80,000 people. Located mid-way between Brisbane and Sydney on the on the top of the Great Dividing Range on the New England Hwy. Armidale’s proximity and accessibility to a range of industry and resources has inspired the emergence of a manufacturing base and a growing transport, warehousing and storage sector.
The region has one of the strongest economies in regional New South Wales, well-known as a research and education hub and is one of its top agricultural producing regions, providing one-quarter of the State’s agricultural output. The region also has an emerging manufacturing sector based on ‘high-value’ animal health and agricultural activities and a growing transport, warehousing and storage sector in response to the growing importance of ‘accessibility’ to a range of industries.
It enjoys annual tourism visitation of more than 600,000 people, and has a commercial population catchment of approximately 300,000 people residing within two and a half hours drive from the city. Importantly, it has one of the fastest growing populations in regional NSW and is predicted to grow at more than one percent per annum over the next twenty years – the highest compared to other reputable cities in the North West region.
Armidale has a thriving small business sector and the city boasts a highly diverse industry base and a variety of well-established key employment divisions. Around 2937 local businesses in the Armidale region contribute to a gross regional product valued at $1.54 billion (2019) and tourism continues to play an important role as an economic driver, with the New England North West accounting for 1.5 million domestic overnight stays, contributing $532 million to the local economy.
Affordable and streamlined costs to business
Affordability is one of the key drivers for doing business in the Armidale region, with attractive industrial and commercial land prices and rental opportunities catering for light, medium or heavy industry as well as aviation freehold. The development of Armidale Airside Business Park will see competitive real estate prices set to attract significant inbound investment. Easy access to transportation by highway, air or rail provide low cost pathways and logistics for your business, allowing access to domestic and export markets, and ensuring timely delivery of your inbound and outbound freight.
Traffic congestion, road and bridge tolls, parking tickets and staff subsidies can impact your business and restrict productivity. You’ll avoid the hassle and enjoy the freedom of mobility, by simply moving about in a city and region that can cater for your every need.
Technology and Innovation
Armidale’s reputation in digital leadership has grown considerably in recent years with the launch of a flourishing new UNE Smart Region Incubator and the opening of TAFE NSW Digital headquarters, which delivers state-of-the-art online learning experiences. Armidale was the first mainland region in Australia to be switched to the NBN network, connecting over 12,000 homes and businesses to Fibre to the Premises – the Rolls Royce of NBN connection, and a further 2,000 outlying premises with access through fixed wireless technology. The technology has enabled local businesses unprecedented access to global markets and created a vibrant digital economy for the region. Superior NBN infrastructure means national and international businesses can experience lower overheads and staff can take advantage of the change in lifestyle and better work-life balance because the tyranny of distance has disappeared with the introduction of super-fast broadband.
Armidale has network of like-minded people keen to provide support and eager to see your business reach its potential. Our city has been internationally recognised as one of the most intelligent communities in the world – a ‘SMART21 Community’ (Intelligent Community Forum, New York 2016), and it is packed with a highly skilled labour force and a ‘can do’ attitude ready to roll their sleeves up for your business. It’s a community propelled by trusting relationships, in which world-experts and a helping hand are never far away. Furthermore, Armidale has an active Business Chamber and can provide close proximity of related businesses allows networking, collaboration opportunities and business clustering.
Success Stories
Investing and living in Armidale is easy to imagine. Meet some of our stars.
