Valley investment almost doubles in a year, now at $88m
INVESTMENT in the Clarence Valley in the 2014-15 period has grown to $88.25 million, almost double that of the previous two years, using the council's development application process as a guideline.
At Tuesday's Clarence Valley Council environment, planning and works committee meeting, the Mayor, Richie Williamson, revealed the snapshot of the growth in investment in the region.
He said the number could top $100 million before the end of the financial year and was confident of a record over $100 million by July 2016.
Cr Williams said he had gone back into the council archives to find comparative figures over the past four years.
"It's important we have more than a glancing look at some of the numbers presented to us, especially at this time of the year," the Mayor said.
"The numbers here are a snapshot of the Clarence Valley's economy and how we might be travelling in terms of investment into the Clarence.
"In 2012 council received $69 million worth of applications into our economy.
"In 2013 it dropped significantly to $47.62 million. Last year, 2014, $45.6 million."
"In this snapshot in time I think it is important to acknowledge $88.28 million of investment has been recorded through the application process."
Cr Williamson said some of the increased value in DAs had been driven by the Pacific Hwy upgrade but he did not think a lot of that work was on the books yet.
"There is a lot more to come," he said.
"I have been in conversation with the director responsible and it could be possible that we reach the $100 million mark in the financial year
"If that is the case, that is outstanding.
"For those in the economy that are building the developments that are approved - and we have a pretty good track record here at council - not every application is approved I accept that, but our hit rate is high and $88.28 million worth of investment in a 12-month period is certainly the highest in recent years.
"I think the next financial year could well see some kind of a record for investment in the Clarence Valley.
"Things are picking up in the Clarence Valley and these numbers absolutely prove that. They are almost double in the 2014-15 financial year compared to the 2013-14 and 2012-13."