Thursday, 9th September, 2010
The retail and mining sectors are expected to support local jobs growth in the future.
In its 2009-10 Far West Economic Update Report, Regional Development Australia (RDA) predicts about 660 jobs will be created in the city over the next decade.
The development of Leasecorp's new shopping centre and new and ongoing mining projects would be key to jobs growth, the report said.
RDA Far West chairman Kym Fuller said the report showed a positive future for the region.
"Based on the medium scenario, the report predicts 40 per cent of employment growth, or 257 jobs, will be created in the retail sector while 25 per cent of new jobs will be within the mining industry, equating to approximately 173 new positions across the next 10 years," Mr Fuller said.
"There will also be increased employment of about 51 jobs in finance, business and communications services and approximately 50 new employment opportunities for construction."
The jobs forecast for the city were modelled using local projects including -Bemax's Snapper mine, the Rasp Mine, the Honeymoon uranium mine and Council's aquatic centre expansion and development of the new film studio.
Mr Fuller said armed with this information the city could prepare for the future.
"This report provides a valuable insight into what skills will be required in the Far West region across the next ten years and allow businesses and individuals to consider training and employment in sectors where certain skills are going to be required."
The city's mayor, Wincen Cuy, said the updated report highlighted the positive economic impact created by several large scale projects taking place in the region.
"Mining and exploration across the Far West still plays an important role in the resilience of Broken Hill and the region, together with infrastructure projects being led by Broken Hill City Council," he said.
"Existing operations and proposed projects in mining and exploration show the resource industry has commenced some steps towards recovery following the Global Financial Crisis."
The updated report can be accessed at Council's website or at www.rdafarwestnsw.org.au.