Adelaide most competitive place to do business

It's not nearly as bad as it's been on the east coast with NSW and VIC losing serious amounts of money from the declining prices on the residential market, I read that VIC has projected a $5 billion loss over the next few years. Oh well, the stamp duty money river wasn't going to last forever was it...

 

Taking in everyone's washing, delivering food and doing each other's hair doth not an economy make.

 

Those people still need to eat, live somewhere and entertain themselves. Businesses still make more than they would have without those people.

 

https://statebudget.sa.gov.au/budget-docs/2019-20_budget_overview.pdf

 

Some interesting developments for SA mining sector:

BHP | BHP completes heap leach technology trial for Olympic Dam

"The promising results from this trial supports our positive outlook for Olympic Dam, given forecast demand increases for copper and the optionality we are building for this world-scale resource."

Tasman Resources signs farm-in and joint venture agreement with FMG Resources

"The Perth-based company is focused on exploration projects covering large tenement holdings in South Australia."

 

But nothing actually gets produced in a services-based economy - it's a closed loop system where the services are the dominant economic activity. Where does the money come from to pay for the actual goods that get consumed - nearly all of which have to come in from off-shore?

Even the Australian Industry Group has observed that a services-based economy can't work in the long term because nothing is being produced. The so-called 'export' service industry of tertiary education is heavily dependent on the sale of residential visas to back it up - without those you'd see a rapid deterioration in the number of foreign nationals prepared to fork out for the privilege of attending our second-rate universities.

 

I was glad to see some long-term issues being addressed like level crossing removal and the completion of the North-South link (albeit still underfunded). But like other state governments Rob Lucas has decided to put it all on the credit card - already strained because of the loss of GST revenue (falling consumption) and stamp duty revenues - although not nearly as bad as the projected $10 billion lost in NSW since the slump began there in 2017.

 

CoreLogic is reporting Adelaide now down -0.45% for the last quarter; now trending downwards on the annual measure too although only slightly. The leafy inner south and east are still doing alright but its the middle and outer surburbs that are dragging down the index.

Adelaide the last domino to fall. The losses have been stemmed somewhat in Melbourne and Sydney (down to around -1% for the last quarter) but they're still as bad as ever in Perth, down 9% year-on-year. Poor long suffering Perth investors, there's no glimmer of hope on the horizon for them.

 

MIT to move into Adelaide precinct - 9News

"We identified Adelaide early on as the prime location for a Living Lab in Australia and the broader region due to its leadership in data analytics and machine learning," he said."

 

A first look at Technicolor's new Adelaide studio - InDaily

"Operating under the Mill Film banner, the South Australian visual effects studio has already attracted 300 creatives from across the globe to its Adelaide headquarters in Terrace Towers, adjoining the Myer Centre on North Terrace."

"The studio joins a growing number of post-production companies in Adelaide, helping the South Australian capital emerge as a screen industry hub"

 

Fonzarelli unveils new electric motorbike, and takes manufacturing to South Australia | The Driven

"The dual announcement was made by Fonzarelli founder Michelle Nazzari in Adelaide on Thursday, who added that she was working with Adelaide local Simon Modra, a motorcycle enthusiast and Future Submarine design researcher at the University of South Australia to talk with a number of promising manufacturers."

 

Anyone looking for a job in SA, I highly recommend OD as a place of employment:

BHP launches fast-tracked training course at Olym…:

 

Origin announced the closure of its Adelaide call centre today with the loss of 130 jobs to the Philippines - also seems likely that the submarine maintenance base will be moved to Western Australia (because after all Perth needs some of that pork too). In the longer term the maintenance side of the base is supposedly worth 3,000 jobs according to PriceWaterhouse Coopers - since the subs will already be based at WA it appears there's a good case to be made for splitting the work between the states.

Oh well, we won't need those jobs anyway - we've got twenty thousand space jobs in the pipeline here in SA.

 

Can I ask why SA is not getting the KFC pie? Is it another chicken schnitzel thing?

KFC fans lose it over ‘legendary’ item

 

LOL, one of those things that you don't know you're missing till someone tells you about it. I guess they don't bother marketing things nationally.

 

Can I ask why SA is not getting the KFC pie? Is it another chicken schnitzel thing?

It's because SA has better taste!

 

Job ads plummet in Sydney, Melbourne as companies tighten their budgets

"There are some positives with advertisements increasing in many regional parts of the country with the strongest area the non-metropolitan areas of South Australia."

 

Official figures show otherwise: Unemployment grinds up to the highest level in more than a year at 5.3pc

South Australia leading the nation with the highest unemployment - yet again, this time bumping up to 7.3%. Whoever said the car industry wouldn't be missed was completely wrong.

 

Not really, that figure is statewide. I have seen first hand significant growth in the SA regional sector.

 

Are you talking about Whyalla - I'm hoping that this project does follow through. However the growth isn't even across regional SA, certainly not being felt in Adelaide yet either. There was a splash in today's Sadvertiser about the submarines employing apprentices (yet again) as if to try and soften the news that our unemployment was nation-leading (also yet again) as well as a story about a poor bloke who had been made redundant at Holdens who retrained intensively in hospitality and tried to open a business only to find himself unemployed when his package eventually ran out. He said that he's been told he's too old @ 53 and that employers don't bother with him. Sad indictment on our nation really that you're on the scrap-heap at that age but then I just don't think our economy is generating good quality accessible jobs either.