ÿþ <HTML> <HEAD> <TITLE>Outlook Profile</TITLE> <meta HTTP-EQUIV="Pragma" CONTENT="no-cache"> <meta HTTP-EQUIV="robots" CONTENT="noindex"> <meta HTTP-EQUIV="expires" CONTENT="Sun, 1 Oct 1990 15:00:00 GMT"> <link href="includes/styles.css" rel="stylesheet" type="text/css" /> <script language="javascript"> // Copyright (C) 2005 Ilya S. Lyubinskiy. 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} </script> </HEAD> <BODY Background="images/bg.jpg" LEFTMARGIN=0 TOPMARGIN=0 MARGINWIDTH=0 MARGINHEIGHT=0> <!--<TABLE WIDTH=1024 BORDER=0 CELLPADDING=0 CELLSPACING=0 style="position:relative;left:0px;">--> <TABLE WIDTH=1024 BORDER=0 CELLPADDING=0 CELLSPACING=0 > <TR> <TD COLSPAN=14> <IMG SRC="images/spacer.gif" WIDTH=1024 HEIGHT=25 ALT=""></TD> </TR> <TR> <TD ROWSPAN=7> <IMG SRC="images/spacer.gif" WIDTH=100 HEIGHT=743 ALT=""></TD> <TD COLSPAN=12 background="images/main/nav_bg.jpg" > <IMG SRC="images/spacer.gif" WIDTH=967 HEIGHT=20 ALT=""></TD> <TD ROWSPAN=7> <IMG SRC="images/spacer.gif" WIDTH=29 HEIGHT=743 ALT=""></TD> </TR> <TR> <TD ROWSPAN=4 background="images/main/nav_bg.jpg" valign="top"> <IMG SRC="images/spacer.gif" WIDTH=18 ALT=""></TD> <TD COLSPAN=7 valign="top" background="images/main/main_06.jpg"> <!--<IMG SRC="images/main/main_06.jpg" WIDTH=716 HEIGHT=249 ALT="">--> </TD> <TD COLSPAN=3 valign="top"> <IMG SRC="images/main/main_07.jpg" WIDTH=215 HEIGHT=249 ALT=""></TD> <TD ROWSPAN=4 background="images/main/nav_bg.jpg" valign="top"> <IMG SRC="images/spacer.gif" WIDTH=18 ALT=""></TD> </TR> <TR> <TD colspan="10" class="menu"><p><a href="index.html">Home</a><img src="images/spacer.gif" width="20" height="1"><a href="about.html">About MITEZ</a><img src="images/spacer.gif" width="20" height="1"><a href="region.html">Our Region</a><img src="images/spacer.gif" width="20" height="1"><a href="projects.html">Projects</a><img src="images/spacer.gif" width="20" height="1"><a href="investment.html">Investment Guide</a><img src="images/spacer.gif" width="20" height="1"><a href="economicprofile.html">Economic Profile</a><img src="images/spacer.gif" width="20" height="1"><a href="media.html">News & Media</a><img src="images/spacer.gif" width="20" height="1"><a href="contact.html">Contact Us</a><img src="images/spacer.gif" width="20" height="1"><a href="links.html">Links</a></p></TD> </TR> <TR> <TD COLSPAN=10 valign="top" background="images/main/main_17.jpg"> <IMG SRC="images/spacer.gif" WIDTH=931 HEIGHT=35 ALT=""></TD> </TR> <TR> <TD COLSPAN=3 background="images/main/nav_bg.jpg" class="heading" valign="top" align="right"> <!-- left hand nav--> <table border="0" width="98%"> </table> <img src="images/spacer.gif" width="5" height="10" /><br /> <br /> <IMG SRC="images/spacer.gif" WIDTH=215 HEIGHT=400 ALT=""> </TD> <TD COLSPAN=7 bgcolor="white" valign="top" align="center"> <table border="0" width="98%"> <tr> <td valign="top"> <br /> <!-- contents start --> <h1>Economic Profile</h1> <P><img src="images/cattle.jpg" alt="Cattle - Agriculture" width="300" height="199" hspace="5" border="1" align="right">Gross Regional Product (GRP) figures for the MITEZ region in 2007-08 (AECGroup estimates) indicate that despite a small drop in contribution to GRP, the mining sector continues to dominate the economy &ndash; followed by the construction sector. </P> <P>These two areas of the economy produce almost a third of the region&rsquo;s value added product, compared to Queensland as a whole, where those sectors account for less than 20 per cent of Gross State Product. </P> <P>In 2006-07, GRP at Factor Cost was estimated at $13.4 billion, with the regional economy growing on average by 9.9 per cent per annum in the five years since 2001-02. The Mining sector (25.5 per cent) together with Manufacturing (14.9 per cent), accounted for over 40 per cent of GRP. </P> <P>Strong annual growth enjoyed by the Construction (20.9 per cent), Property and Business Services (20.2 per cent), Transport and Storage (19.8 per cent), Electricity, Gas and Water Supply (15.2 per cent) and Health and Community Services (14.2 per cent) sectors highlights the vitality and diversity of the region, now recognised as a mature regional economy. </P> <P>In addition to its wide economic base, capacity remains to build upon core activities and new industry can readily be accommodated by existing infrastructure and services.</P> <P><img src="images/graph_grp.jpg" width="624" height="344" alt="Graph demonstrating GRP contribution."></P> <h2>Labour force</h2> <P> <img src="images/diesel_fiter.jpg" alt="Diesel Fitter" width="300" height="200" hspace="5" border="1" align="right">The total labour force in the MITEZ Region in the December Quarter 2007 was recorded as 113,680 persons.The region&rsquo;s labour force grew signifi cantly between 2002 and 2006 reaching over 118,000 persons, before easing to current levels. </P> <P>Over the last four years, the MITEZ Region&rsquo;s unemployment rate has trended steadily downwards from 8.2 per cent in September Quarter 2003 to just 3.9 per cent in the December Quarter 2007. In particular, unemployment rates in McKinlay, Richmond and Flinders remain extremely low.</P> <P> <img src="images/cafe.jpg" alt="Cafe" width="300" height="200" hspace="5" border="1" align="right">The service sectors continue to dominate employment in the MITEZ Region in 2006-07 with Retail Trade accounting for 13.9 per cent of persons employed, followed by Health and Community Services (10.7 per cent) and then Government Administration and Defence (9.8 per cent).</P> <P> Employment growth was, however, strongest in the Public Service sectors (Public Administration and Defence, Health and Community Services, Education and Electricity, Gas and Water Supply), demonstrating the increasing importance of the MITEZ Region to state governance.</P> <P> The labour force of the MITEZ Region is also one of the most productive in Australia with each person in 2006-07 worth on average $146,564 in value added to the economy annually.</P> <h2> Training</h2> <P> <img src="images/training.jpg" alt="Training" width="300" height="200" hspace="5" border="1" align="right">The proportion of persons with an educational qualification continues to increase in the MITEZ Region with almost 40 per cent of persons aged 15 years or older having completed schooling to year 12 or equivalent. In terms of tertiary education, the fi eld of Engineering and Related Technologies accounted 18.2 per cent of persons qualifi ed, followed by Management and Commerce (11.8 per cent), Health (9.4 per cent) and Society and Culture (8.2 per cent).</P> <P> Training within the MITEZ Region is well established and Mount Isa, Townsville, Cloncurry and Charters Towers have extended capacities to house workforces required for projects.</P> <P> Airport facilities in these centres provide excellent fl y-in capacity, particularly from Townsville, which has become established as a popular live and fl y centre for projects as far away as the Carpentaria-Mount Isa Minerals Province and Papua New Guinea. Both Townsville and Mount Isa have daily services with the state&rsquo;s capital Brisbane. <!-- contents end --> </P> <P>&nbsp;</P></td> </tr> </table> </TD> </TR> <TR> <TD COLSPAN=12 background="images/main/nav_bg.jpg" > <IMG SRC="images/spacer.gif" WIDTH=967 HEIGHT=14 ALT=""></TD> </TR> <TR> <TD COLSPAN=12> <IMG SRC="images/spacer.gif" WIDTH=967 HEIGHT=26 ALT=""></TD> </TR> <TR> <TD> <IMG SRC="images/main/spacer.gif" WIDTH=28 HEIGHT=1 ALT=""></TD> <TD> <IMG SRC="images/main/spacer.gif" WIDTH=18 HEIGHT=1 ALT=""></TD> <TD> <IMG SRC="images/main/spacer.gif" WIDTH=87 HEIGHT=1 ALT=""></TD> <TD> <IMG SRC="images/main/spacer.gif" WIDTH=82 HEIGHT=1 ALT=""></TD> <TD> <IMG SRC="images/main/spacer.gif" WIDTH=46 HEIGHT=1 ALT=""></TD> <TD> <IMG SRC="images/main/spacer.gif" WIDTH=94 HEIGHT=1 ALT=""></TD> <TD> <IMG SRC="images/main/spacer.gif" WIDTH=157 HEIGHT=1 ALT=""></TD> <TD> <IMG SRC="images/main/spacer.gif" WIDTH=144 HEIGHT=1 ALT=""></TD> <TD> <IMG SRC="images/main/spacer.gif" WIDTH=106 HEIGHT=1 ALT=""></TD> <TD> <IMG SRC="images/main/spacer.gif" WIDTH=51 HEIGHT=1 ALT=""></TD> <TD> <IMG SRC="images/main/spacer.gif" WIDTH=92 HEIGHT=1 ALT=""></TD> <TD> <IMG SRC="images/main/spacer.gif" WIDTH=72 HEIGHT=1 ALT=""></TD> <TD> <IMG SRC="images/main/spacer.gif" WIDTH=18 HEIGHT=1 ALT=""></TD> <TD> <IMG SRC="images/main/spacer.gif" WIDTH=29 HEIGHT=1 ALT=""></TD> </TR> </TABLE> </tr> </table> <!-- End ImageReady Slices --> </BODY> </HTML>