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In its devastating assessment of the impact of bushfires & the Covid19 pandemic on the Bega Valley Shire economy, this week’s ID Report reportedly forecast a fall in Gross Regional Product (GRP) of $52M or 13.9% for the June Quarter, 2020, compared to the previous year, rendering it the 6th worst impacted of the 95 regional Local Government Areas (LGAs) in NSW.

According to ID, the shire’s capacity to pursue economic recovery is hindered by the fact that there has been zero growth in the local economy, including jobs, in the three years to December, 2019. Coupled with a low rate of building approvals in the same period & a high reliance on impacted industries, such as tourism, & a high level of part-time work, the risk to the shire’s economic recovery is even greater.

Given our shire’s comparative economic standing with the rest of NSW, the association believes that the state & federal governments should be making a major practical investment in the shire by committing to the relocation of government agencies to the area.

Read more … www.begavalleyshireratepayers.asn.au/files/Bega-Valley-Shire-Residents---Ratepayers-Association--BVSRRA----Media-Release---road-to-recovery---11.09.2020.pdf

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