economic snapshot

Lismore’s economy is supported by diversification within its industry sectors. The largest employers are Health Care and Social Assistance (22.7%), Education and Training (12.3%) and Retail Trade (10.2%) (NIEIR 2020).

(less)

Lismore is host to 4,136 (ABS 2020) registered businesses that play a key role in the economic strength and diversity of the region.

(less)

Lismore’s Gross Regional Product (GRP) was $2.44 billion (NIEIR 2020).

The challenge for this Strategy and government partners is to halt the short term decline in population and alter the investment/employment mix.

(less)

The total workforce of the Lismore LGA in the year ending 2020 was 23,470.

(less)

Lismore’s median house price is $417,178 and $271,813 for units/townhouse (June 2018). Weekly rental costs are consistently lower in Lismore than NSW, averaging $370 and $285 for units/townhouses (June 2018), making it an attractive location for first home buyers.

(less)

Since 2016 over $294 million in development has been approved within the Lismore LGA:

• $62.2 million in Commercial
• $6.3 million in Industrial
• $175.1 million in Residential
• $50.4 million in Subdivision

(less)

Lismore has the highest level of skilled professionals in the region with 48.9% of the population aged 15 and over holding a formal qualification (2016) compared to 46.2% in broader Regional NSW.

(less)

The Northern NSW Local Health District (NNSWLHD) headquarters in Lismore provides health services to an estimated population of 288,241 across the Northern Rivers area. The NNSWLHD manages 11 hospital facilities with the Lismore Base Hospital the largest hospital in the region. Lismore’s private hospital facilities are located at St Vincent’s Lismore and is the only private hospital between Tweed Heads and Coffs Harbour, with 86 beds and hosting 97 credentialed practitioners addressing 25 specialties.

The Health Precinct growth remains strong with major staged infrastructure development continuing at the Lismore Base Hospital totalling over $320 million and work concluding on St Vincent’s Lismore master plan development for its health campus in 2019.

(less)

Lismore, the birthplace of Southern Cross University, offers dynamic courses that respond to community and industry needs. The campus includes state-of-the-art science and engineering facilities, a contemporary library and specialist music and visual arts studio. Business collaborations are welcomed and common at Southern Cross University.

For example the collaborative partnership between
the University of Sydney, the University of Wollongong, the University of Western Sydney and Southern Cross University has seen the establishment of the University Centre for Rural Health. Founded over a decade ago, this facility provides training to medical students and other health professionals.

Lismore is also the administration centre for the North Coast Institute of TAFE NSW and home to the Northern Rivers Conservatorium, delivering quality music education and performance offerings across the Northern Rivers.

(less)

Lismore LGA benefits from a rich creative ecology, which makes it an ideal place to live, work and create. The city is home to artists, performers and makers’ across every discipline including; musicians, designers, painters, theatre makers, writers, photographers, film-makers, artisans and new media specialists. The Northern Rivers has the highest number of creative practitioners and businesses outside the capital cities with the greatest concentration located in the Lismore LGA.

(less)

Lismore LGA is home to a diverse number of agricultural industries such as blueberry, macadamia, timber and wood products, dairying, cattle, hemp, pecans, tea tree and stone fruit. Lismore is home to the Australian Macadamia and Blueberry Industry headquarters, NORCO, Australia’s second largest ice-cream producer including a newly established blueberry export facility and medicinal cannabis facility.

(less)

In 2019/20 the total tourism and hospitality sales contributed to $163.0 million to the local economy (NIEIR 2020)

(less)

Manufacturing growth is accounted for by an increase in food production, primary metal and metal products. Nimbin is the home of The Australian Hemp Masonry Company, providing energy efficient and carbon neutral building materials. Lismore is home to specialist metal manufacturers supporting agribusiness and food and product manufacturers, as well as home to one of Australia’s fastest growing organic cleaning product manufacturers.

(less)