Ipswich economy reaches record $15 billion Gross Regional Product

The economy of Ipswich is undergoing a significant transformation, with its Gross Regional Product (GRP) surpassing the $15 billion mark for the first time in 2025, reaching $15.08 billion. While traditional industries such as coal, rail, manufacturing, and defense remain part of the economic backbone, the region is seeing increased diversification through growth in healthcare, education, public administration, and construction.

Employment figures have also exceeded projections. The Ipswich City Council’s Economic Development Strategy 2023-2027 aimed for 95,040 jobs by 2027, a target the city reached three years early by recording 95,532 jobs in 2024. Mayor Teresa Harding noted that the region continues to outperform expectations, stating, “Economically, we continue to punch well above our weight.”

This economic evolution is supported by long-standing local institutions like the Ipswich Chamber of Commerce and Industry. Established in 1906 to represent diverse interests ranging from mining to retail, the Chamber has grown from 40 initial members to hundreds, continuing its mission to advocate for and connect local businesses.