New England-North West
The New England-North West region is one of the State's most significant agricultural producers, generating over $2 billion in agricultural product. Characterised by its rugged landscape, plateau and tablelands, the region is well suited to livestock grazing (particularly cattle) and crop cultivation (particularly cotton and wheat). The region produces almost a quarter of the gross value of all crops in NSW and more than a fifth of its gross value of livestock slaughtering. Between 2006 and 2013 the region experienced strong compound annual output growth (5.1% compared with the 4.8% average for Regional NSW). The mining sector grew by 24% a year during this period, with significant growth recorded in coal, gas, gems and metals.
Service oriented industries – such as Education and Training, Health Care and Social Assistance, Retail Trade, Leisure and Business Services – are important contributors to the local economy. They play a particularly strong role in the major towns of Armidale and Tamworth, which account for almost half the region's population, employment and Gross Regional Product (GRP).
Population in the New England-North West region is expected to grow between now and 2031 at an annual average rate of 0.53% each year, compared with 0.50% for Regional NSW as a whole and 1.2% for the State as a whole.
The region's agribusiness could benefit from a rising demand for agricultural commodities throughout the region.
The Education and Training sector is expected to continue as a significant economic driver, anchored by the University of New England.
In 2013, the New England-North West region contributed $8.9 billion to GRP, representing 6% of Regional NSW's total GRP ($137.7 billion).
Download the New England-North West Economic Profile