Economic snapshot has positives for Whanganui

ECONOMIC SNAPSHOT: The forestry and logging industry is one of Whanganui's comparative economic advantages.

Whanganui job opportunities are continuing to grow, with the roll-out of ultra-fast broadband triggering increases in self-employment, business start-ups and business relocations, particularly in the technology sector.

That's according to Whanganui and Partners manager Adrian Dixon who recently provided an "economic snapshot" of Whanganui to his organisation's board, reflecting on recent data.

Mr Dixon said total employment in the Whanganui District averaged 19,183 in the year to March 2016, with a total of 2280 workers being self-employed.

"Whanganui continues to have one of the most diverse economies in New Zealand," Mr Dixon said.

"The district has an annual GDP of $1.425 billion and businesses here continue to be on a steady growth path.

"Whanganui's growing and stable workforce, its highly efficient freight and logistics operation and central location to key transport infrastructure combine to make it an attractive location for business operations."

Manufacturing continues to make the largest contribution to overall growth. The industry grew by 4.7 per cent in 2016 and contributed 0.54 percentage points to the district's total growth of 2.2 per cent. The next largest contributor was construction followed by agriculture, forestry and fishing.

Whanganui's largest comparative advantages are in the forestry and logging, textile, leather, clothing, footwear manufacturing and meat and meat product manufacturing industries.

"Niche market manufacturing, including marine and auto engineering, boat building, tanning, safety equipment manufacturing and others, are thriving in Whanganui," Mr Dixon said.

Tourism's contribution to the economy is also on the rise, with visitor spend increasing 10 per cent over the last 12 months (the New Zealand average increase was six per cent). Tourism was worth $128 million to Whanganui in the past year, the highest figure recorded in the last eight years.