SA Economy

[SBD]

https://www.adelaidenow.com.au/news/sou ... a9d2df66a7

Ah that old Olympic Dam promised pot of gold. Will it happen this time? Probably have a better chance of finding a pot of gold at the end of a rainbow.

And the red bit, has our state government got any projects identified?

It's not clear when a project is advanced "too far" to qualify, nor what is "too early".

• Tenders have been accepted and contracts signed for Joy Baluch AM bridge, Copper Coast Highway bridge over Augusta Highway and duplication of the highway through Port Wakefield.
• Work has started on Goodwood and Springbank Roads
• Property has been acquired for Portrush and Magill Roads
• I think there has been some kind of announcement for a Fullarton Road intersection?
• Concept plans announced for Ovingham level crossing
• Pipe(tunnel) dream of finishing the North South Motorway
• Other level crossings and intersections need work but haven't been announced.
• Truro bypass, upgrade of heavy vehicle route between Princes and Sturt Highways

Hopefully something in this list hits the sweet spot for readiness.

Can't they just even start with basic road maintenance projects. Our roads are disgraceful. Even when they re-lay bitumen it' still uneven.

Is that in scope for this funding?

The problem with (some) roads is that the earth underneath moves enough that it would need a very deep footing to be able to stay smooth on top. Asphalt allows for some movement, but still not everything in all circumstances.

[rev]

Adelaide base for space agency's mission control

South Australia has been chosen for the nation's only space mission control, creating Australia's first space hub.

The Mission Control Centre will allow researchers and astronautical companies to control missions and communicate with astronauts at the International Space Station from Adelaide's CBD.

Local company Saber Astronautics will receive $6 million from the Federal Government and $2.5 million from the State Government to build the facility.

The centre will be constructed within the Australian Space Agency's headquarters in Adelaide's innovation precinct Lot Fourteen, planned to open in early 2021.

Minister for Industry, Science and Technology Karen Andrews said the Mission Control Centre would help grow Australia's space sector and will promote jobs within SA.

"Space is also an incredible tool which can help other Australian industries to grow – from making our farmers more productive to giving our advanced manufacturers new supply chains to become a part of," she said.

It will launch alongside the Space Discovery Centre, an international educational facility aimed at promoting the next generation of the nation's space industry.

The Federal Government is investing $700 million into the space sector, planning to triple its size to $12 billion and add an extra 20,000 jobs by 2030.

- With AAP

https://www.msn.com/en-au/news/australi ... r-BB15tEia

[Jaymz]

The latest CommSec State Of The States report has been released for the June quarter, with some stats such as unemployment from more recent figures (hence S.A's good result for this). S.A has moved up to equal 4th position with N.S W.

* Note. These figures are for current performance against the decade average for each category.

https://www.commsec.com.au/content/dam/ ... r_2020.pdf

[Jaymz]

The latest CommSec State of the States quarterly report has been released. South Australia has moved up into equal third position with Victoria, our highest ranking for about a decade.

Of course, these are not normal times and it's a case of which state has performed least worst during Covid and all the challenges it has presented. Interestingly, SA did not top the ranking for any of the categories but performing above average for several of them.

https://www.commsec.com.au/content/dam/ ... y_2021.pdf

[Jaymz]

That's right folks, it's time again for another installment of Commsec's State of the States report. I know you've all been waiting with bated breath for the past 3 months

South Australia has fallen two spots from 3rd to 5th out of eight states and territories. Once again we haven't topped the rankings in any one of the categories, but tracking around the middle for most of them as our overall ranking would suggest. S.A's best performing category was for new dwelling commencements which is a positive sign as this often flows through to boost other economic indicators in the future.

Please see two posts above for my usual disclaimer.


https://www.commsec.com.au/content/dam/ ... l_2021.pdf

[Jaymz]

The latest CommSec State of the States is out, S.A is now ranked fourth out of eight states and territories.

The highlight for South Australia being new dwelling starts are at the highest levels for 36 years.....

https://www.commsec.com.au/content/dam/ ... ly2021.pdf

[Waewick]

Appreciate the updates, always good reading.

We have 3 Banks (consecutive, NAB and WBC) telling us how good the state is going, but why aren't we seeing jobs growth? Or even more rapid population growth?



Sent from my SM-A505YN using Tapatalk

[gnrc_louis]

Appreciate the updates, always good reading.

We have 3 Banks (consecutive, NAB and WBC) telling us how good the state is going, but why aren't we seeing jobs growth? Or even more rapid population growth?



Sent from my SM-A505YN using Tapatalk

I think sadly S.A will likely never see "rapid population growth" as long as Melbourne, and to a lesser extent Sydney, remain such attractive options for young people. The only way I could envisage our population growing more quickly would be if the Federal Government mandated new migrants move to S.A, rather than NSW or Victoria - where the vast majority currently migrate to.

[Jaymz]

Appreciate the updates, always good reading.

We have 3 Banks (consecutive, NAB and WBC) telling us how good the state is going, but why aren't we seeing jobs growth? Or even more rapid population growth?



Sent from my SM-A505YN using Tapatalk

I think sadly S.A will likely never see "rapid population growth" as long as Melbourne, and to a lesser extent Sydney, remain such attractive options for young people. The only way I could envisage our population growing more quickly would be if the Federal Government mandated new migrants move to S.A, rather than NSW or Victoria - where the vast majority currently migrate to.

Most states are experiencing lower population growth than usual, obviously due to the halting of overseas migration.

Pre-covid there was already something in place to redirect more overseas migrants to the smaller states, that being S.A, Tasmania and eventually W.A once their economy cooled off from the mining boom. From what I recall, people wanting to move to Australia from overseas would be fast-tracked if they chose one of the above mentioned states. I'm unsure of specifics, but it involved them staying in those states for a fixed number of years before being able to relocate interstate.... the hope being that although some of them would eventually move, some would grow to like living in one of the smaller cities and stay put.

Tasmania's population is still growing at pretty much its trend rate, I believe this is due to people from Sydney and Melbourne wanting to get out of dodge, cash in their ultra expensive houses in those cities and own a home in Tassie with a large chunk of money left over at the end. This is shown in Hobart's median house value growth, which has now surpassed Adelaide, Perth and Darwin and nudging close to Brisbane's. Hobarts median house price has historically been the lowest up until the last couple of years. It's also no surprise that Tasmania's economy has topped the rankings for the past couple of quarters, mostly driven by population growth.

I can't remember if it was the March '21 or December '20 quarter, but one of those was the first time since 1990 that S.A had a net interstate migration increase (around 100 people), that being more people moved here than left. This is probably due to people being unable to easily move as they please because of covid, but also due to what we are seeing in Tassie in regards to their population growth I mentioned above.

[rev]

Adelaide, Perth, Hobart were classed as category 2 "Cities and major regional centres", along with the Sunshine Coast, Gold Coast, Geelong, Canberra, Newcastle/Lake Macquarie, and Wollongong/Illawarra.

These are the benefits;


Priority processing of regional visas
Access to the Regional Occupations List – more jobs compared to non-regional lists
International graduates with a bachelor or higher qualification from a regional campus of a registered institution will be eligible to access additional year in Australia on a post-study work visa

[Jaymz]

Adelaide, Perth, Hobart were classed as category 2 "Cities and major regional centres", along with the Sunshine Coast, Gold Coast, Geelong, Canberra, Newcastle/Lake Macquarie, and Wollongong/Illawarra.

These are the benefits;


Priority processing of regional visas
Access to the Regional Occupations List – more jobs compared to non-regional lists
International graduates with a bachelor or higher qualification from a regional campus of a registered institution will be eligible to access additional year in Australia on a post-study work visa

Thanks for the clarification rev, great info

For me, economics is life

[Jaymz]

From yesterdays online version of The Advertiser....

Adelaide defies record population drift to ‘stop brain drain in its tracks’

Adelaide has gained people from interstate for the first time since 2002 to defy a record population capital city population drift.

Paul Starick
Editor At Large

August 3, 2021 - 4:37PM

Adelaide has defied the nation’s biggest population drift from capital cities in 20 years to record a slight gain – the first since 2002.

In a surge triggered by the pandemic, South Australia continued to gain people from interstate, adding 650 people – the largest net gain since 1981.

This followed a gain of 130 people in the previous quarter.

Capital cities lost 11,800 people in the three months to the end of March – the largest quarterly loss charted by the Australian Bureau of Statistics.

Adelaide had a net gain of 60 people, compared with a loss of 250 people in the previous quarter.

The ABS regional internal migration estimates released on Tuesday show Adelaide lost 320 people to other areas of South Australia but gained 380 people from interstate – the first net gain since the December, 2002 quarter.

Perth (1600 people), Brisbane (3300) and Canberra (140) were the only other capitals to grow, while Sydney lost 8200 people and Melbourne 8300.

“No longer are our best and brightest forced to head interstate to fulfil their potential, with South Australia enjoying the strongest jobs growth in the country since the low point of the pandemic,” he said.

“South Australia is poised to enter a period of sustained growth in jobs, opportunity and prosperity as we emerge from the pandemic stronger than ever before.”

Opposition Leader Peter Malinauskas said it was unsurprising that South Australians were returning home from interstate during the pandemic, because the state was a relatively safe haven, but this presented an opportunity.

“The challenge is to ensure this trend continues as vaccination rates improve and the threat of the pandemic recedes,” he said.

“With the highest unemployment rate in the nation, our state needs a serious plan for jobs beyond a basketball stadium.”

PwC Adelaide managing partner Jamie Briggs said Adelaide’s strengths were showing as people reassessed priorities during the pandemic and many industries had a greater capacity to work from home.

“These circumstances have created the environment for significant employers to make greater investments in Adelaide as people demand greater space and more relaxed living,” he said.

[Nort]

The ABS regional internal migration estimates released on Tuesday show Adelaide lost 320 people to other areas of South Australia but gained 380 people from interstate – the first net gain since the December, 2002 quarter.

Perth (1600 people), Brisbane (3300) and Canberra (140) were the only other capitals to grow, while Sydney lost 8200 people and Melbourne 8300.

Interesting way of phrasing it, when four capitals grew in the period.

[Jaymz]

The ABS regional internal migration estimates released on Tuesday show Adelaide lost 320 people to other areas of South Australia but gained 380 people from interstate – the first net gain since the December, 2002 quarter.

Perth (1600 people), Brisbane (3300) and Canberra (140) were the only other capitals to grow, while Sydney lost 8200 people and Melbourne 8300.

Interesting way of phrasing it, when four capitals grew in the period.

Yeah true, it didn't mention Hobart and Darwin. I'll try and find numbers for those cities.

[Norman]

Quoting population data changes proves nothing about stopping the brain drain. It just means more people migrated to Adelaide and SA than left interstate. It doesn't specify the actual people who moved. For all we know, the people going out could be highly educated individuals and the people coming in could be retirees. Of course, the reverse could be true as well. This topic needs more analysis than just quoting population statistics.