Without big data, you are blind and deaf and in the middle of a freeway.”
— Geoffrey Moore.
The Toowoomba Central Business District is the jewel of our region. And understanding its business make-up, employment characteristics, strengths, and gaps, along with its roles and impact within the city’s urban boundaries, the broader Toowoomba local government area, the region, state, and nation is essential is developing good policy.
For this reason and others, the Toowoomba Chamber, embarked on understanding the Toowoomba Central Business District profile. And this is what we found. The CBD:
- contributes 8.1% of GDP to the Toowoomba region;
- employs in the order of 8521 people;
- has a direct and in direct economic impact across the whole Toowoomba local government area, Queensland and nationally;
- largest number of businesses by industry share are professional services, rental and real estate and retail trade;
- most common business types are cafés and restaurants, hairdressing and beauty services and accounting services; and
- when comparing the Toowoomba Central Business District against a control group of other CBDs consisting of Townsville, Ballarat, Bendigo, Albury-Wodonga; Mackay, Rockhampton, Bunbury, Bundaberg and Coffs Harbour, the control group performs better in key areas being tourism, accommodation, education and training and public administration.
Does that sound right to you?
Toowoomba Central Business District Profile Conclusions
From the work to date, I conclude the following:
- The current local CBD Parking Policies have the biggest impact on the most common business types in the CBD.
- The current local CBD Parking Policies support our valued member Grand Central over the balance of the CBD businesses.
- Policies relating to incentives should not focus on single matters like infrastructure fee reductions, but on multipronged, wholistic approaches for business sectors such as tourism, accommodation, and education, and training.
- Public administration (local, state, and federal) operations must be in the heart of Toowoomba’s CBD.
- A major tourist attractor located in the CBD is essential for its long-term growth and sustainability.
Does this resonate with you?
What are your thoughts?
Let us know by emailing admin@toowoombachamber.com.au
