By Geoff Adams
A city in transformation
AS we mark a decade since the launch of Our Goulburn Valley magazine, it’s clear that the region has undergone a remarkable transformation, evolving into a thriving, economic and cultural powerhouse infused with a spirit of innovation, resilience and adaptability. Marked by a surge in population, a boom in employment opportunities and a vigorous business environment, the development of this robust region is a testament to the vision and collective efforts of the Greater Shepparton community along with its rich tapestry of cultural and creative ingenuity.
Reflecting broader trends of regional growth and diversification, Greater Shepparton has evolved considerably from 2015 to 2024. The population, which stood at 62,269 in 2015, has grown steadily to 69,135. This increase of nearly 7,000 residents underscores Shepparton’s expanding appeal and its role as a burgeoning regional hub.
Economic performance has mirrored this demographic growth. Gross Regional Product (GRP) surged from $3.84B in 2015 to $4.60B in 2023, highlighting a strong increase in economic activity and productivity. Employment figures have also seen a notable rise, from 30,352 jobs in 2015 to 36,725 in 2023. The healthcare and social assistance sector has become the largest employer, accounting for over 21% of local jobs. This shift reflects both national trends and Shepparton’s investment in healthcare services, stepping ahead of the former prominence of manufacturing.
The local business landscape has flourished with the number of GST-registered businesses growing from 5,676 to 7,211. This increase, driven by a significant number of new business entries, showcases Shepparton’s dynamic and resilient business environment. Manufacturing, while still a key industry, has seen its influence wane slightly, giving way to other sectors, notably healthcare and retail.
Capital expenditure delivered in Greater Shepparton has played a crucial role in this evolution. In the 2023-2024 period, Shepparton saw $41.8M allocated to 80 projects, with a projected budget of nearly $70M for 2024-2025. These investments include road maintenance, public facilities, and urban development projects, enhancing both economic growth and quality of life in the city.
Tourism has experienced substantial growth, with visitor numbers rising from 778,400 in 2013 to 1.46M in 2023. This surge has nearly doubled the economic impact of visitor spending to $360M, supported by the opening of the $50M Shepparton Art Museum and the Museum of Vehicle Evolution (MOVE) as major cultural and tourist draw cards.
The housing market has mirrored broader regional trends with median house prices rising from $275,000 in 2015 to $475,000 in 2023. This increase reflects growing demand and Shepparton’s rising profile as a desirable place to live.
Over the past decade, Greater Shepparton has undergone notable economic growth, evolving into a prominent destination for tourism thanks to its thriving arts and sports sectors. The region has also become a key centre for entrepreneurship, supported by a varied industrial landscape and significant infrastructure investments. This blend of cultural vibrancy and economic development has firmly established Greater Shepparton as a leading regional hub.
