Latest figures from the Australian Bureau of Statistics reveal that there are almost 16,000 more people employed across the region than last year which Forbes Business Chamber president Stuart Thomas said is a reflection on the number of new businesses coming to town.
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“I think it’s great news for the region that we are generating jobs,” Mr Thomas said.
“There’s a sense of confidence and prosperity in business at the moment.”
The number of people employed across the central west rose from 92,900 in January last year to 108,800 in November, according to labour figures from the ABS.
In the same period, the number of unemployed people fell from 8300 to 6100, with the unemployment rate now at 5.3 per cent after a high of 9.8 per cent in August.
The rate is the lowest it has been since March 2014.
Mr Thomas said these figures are reflected in Forbes where new businesses, such as Bunnings and Spotlight, are popping up.
“There are new businesses coming to town which would certainly create new jobs,” he said.
“There are also large corporate businesses bringing in new staff.
“For example, Moxey Dairy is continuing to expand … that will involve quite a lot of development initially.”
Other new additions include the Forbes Family Dentists as well as the businesses which are setting up or relocating to the industrial area.
“We’re seeing more businesses coming to town than leaving,” Mr Thomas said.
“Businesses are either holding their own or have a level of sustained growth.
“It is reasonable to say there is a growth in jobs.”
Agricultural-based businesses are also doing well which Mr Thomas attributes to a good year of farming in 2015.
“This year has been a reasonably strong year; it was a disappointing finish but still a good year on the whole,” he said.
“That keeps ag businesses operating and investing in their clients.
“We’re seeing a lot of clients investing in more infrastructure, silos and fodder storage.”
Mr Thomas said funding initiatives such as the Murray-Darling Basin Regional Economic Diversification Program could also provide a boost for businesses or not-for-profit organisations.
The initiative is a grant program aimed at providing assistance to economic development projects that support the economic base of regional communities likely to be affected by the implementation of the Murray-Darling Basin Plan.
“There is a potential for businesses or not-for-profit to tap into funding,” Mr Thomas said.
“Funding initiatives such as this will add to business growth and job creation.”
