How to cash in on local sector that generates hundreds of millions a year

Over the past 10 years health and wellbeing, including the social services sector, has contributed a whopping $1067m to Gross Regional Product.

The Toowoomba Regional Council’s Health and Wellbeing Industry Profile as at June 2020 identifies this sector was a major driver of economic activity in the Toowoomba Region, with the largest increase in employment in any industry in Toowoomba.

Over the past 10 years health and wellbeing, including the social services sector has contributed a whopping $1067m to Gross Regional Product.

It is currently Toowoomba’s largest employer with more than 13,500 people working in the field.

Salaries of these workers depend on several factors, but many are employed by government.

The breakdown in employment is as follows:

■ Hospital staff – 4187

■ Other health care – 3878

■ Social assistance services – 3500

■ Residential care – 2000

What does the Toowoomba business community need to know about these sectors?

The NDIS is Australia’s first national scheme for people, under the age of 65, with disability.

It provides funding directly to the individuals.

According to the Australian government’s the NDIS 2020 Year in Review, in December 2020 there were around 5614 active NDIS participants in the Toowoomba region each bringing an average of $52,300 per year into the economy.

That’s a total of $294m per annum.

Let’s put that into perspective, because it’s significant.

A comparison with other sectors is highlighted below:

■ Food product manufacturing $316m (2018/2019);

■ NDIS $294m (2020);

■ Egg industry – $187.6m (82% of Queensland’s egg production, 2018/2019)

■ Cotton – $125m (2018/2019).

So, now that we’ve established that both health and wellbeing and social assistance sectors combined are pretty good for the Toowoomba economy, how can you get your piece of the pie?

There are loads of opportunities for small business and whatever field you work in, there are sure to be ways you can develop programs, processes and expertise that cater for people with health and special needs.

For example, when it comes to NDIS recipients, firstly, check out the NDIS Support Catalogue on www.mycarespace.com.au and find out what is covered by the funding.

And when it comes to the health and wellbeing sector, Toowoomba is rapidly developing as a retirement hotspot with a large number of aged care facilities proposed and under construction.

There’s also the proposed new hospital at the old Baillie Henderson Hospital site.

Whatever your industry – recruitment, construction, professional services and others – we strongly recommend that you keep up to date on developments throughout the region and get to know the movers and shakers in this field to find out how you can work together.

Networking at Toowoomba Chamber’s Business at Dusk events is a great place to start.