SPOTLIGHT: Wollongong's manufacturing industry.
Australia’s manufacturing industry is still Australia’s 5th largest employer contributing 6.1% of gross domestic product, according to the ANZ Insights report ‘Australian Made’. Along with the trend of Asia’s rising middle class and greater demand for higher quality goods, there is now more than ever a real opportunity for Australia’s reputable manufacturing products.
Wollongong is in a fortunate position to capitalise on this, with its strategic location just over an hour south of Sydney combined with the city’s manufacturing strengths. Traditionally known for its steel manufacturing past, the industry in Wollongong has taken these roots, adapted and innovated to create an advanced manufacturing hub with the skills necessary to look to the future. 11,000 residents are currently employed in the industry, with around 60% having a trade certificate or higher, with UOW also turning out 600 engineering students each year.
Following recent reports of an industrial land shortage in Sydney, Wollongong offers a cost effective solution for manufacturers impacted by this trend with industrial rents around 30-50% lower when compared to Sydney. The cost of land is also competitive, with land values around 50% lower than Western Sydney, providing some firms the opportunity to purchase their own industrial property. Wage rates are generally 10% lower and staff turnover at around 5%, adding to the cost competitiveness of Wollongong as a business location. "The attractiveness of Wollongong as a business location has not gone unnoticed in recent years, particularly in the manufacturing space" says Mark Grimson, Economic Development Manager at Wollongong City Council. "Over the past 18 months in particular, we have received an increased number of enquiries from businesses based in Sydney that are looking to expand or re-locate and take advantage of this" he said.
Local manufacturers are taking advantage of these competitive business costs to access markets all over the world. From Bisalloy producing and exporting armour-grade steel around the world; to Wild Beverages providing premium beverages around the country and Aceit supporting sporting codes including cricket, AFL, football and the global bowls market, Wollongong provides the ideal base for manufacturing success.
Considering how you can make the most of the Wollongong Advantage? Contact Rob Little on (02) 4222 8338.