The region’s industries that are key economic drivers include:
- Education and training
- Financial & insurance services
- Oil & gas extraction
- Sheep, grains, beef and dairy cattle
In terms of output, manufacturing has the highest output at $3,206M followed by mining at $1,320M and construction at $1,314M.
The region is an education hub, traditionally being the boarding location for farming families. This is reflected in the relatively high numbers of the 12 to 17 year old age group relative to South East Queensland.
The unemployment rate in the TRC area is 4.7% for the September Quarter 2012, lower than the averages for Brisbane, Queensland and Australia.
There are a number of major projects underway in the region, including the Surat Basin, adjacent to the region to the west, one of Australia’s richest accessible resource reserves with around $200 billion invested in projects that will create around 16,000 jobs.
Toowoomba Regional Council has a dedicated Economic Development area for more detailed information.