Why Toowoomba among nation's fastest growing cities
TOOWOOMBA is on the verge of a boom with new research predicting the city will be among the fastest growing regional areas in Australia.
Regional Australia Institute has predicted Toowoomba's compound annual growth rate between 2013 and 2031 will be 3.5% - the fourth highest in the nation behind only Cairns, Townsville and Mandurah.
The rate is above the 2.7% predicted national average and Toowoomba's 2.6% growth rate between 2001 and 2013.
RAI chief Jack Archer said Toowoomba was showing other regional centres how to operate.
"If we could get every regional city going the way Toowoomba is (the RAI) could pack up and go home," he said.
"It's got some really interesting things going on, especially in the logistics and the agriculture sectors."
Toowoomba mayor Paul Antonio said the city's economic diversity was key to growth.
"Toowoomba is a classic regional capital, we're a service city for a lot of other areas and the key sectors like health and education are continuing to grow," he said.
Cr Antonio pointed to transport and logistics as a potential growth area for Toowoomba over the coming decades.
"Then we have that I like to call the golden trifecta in the Brisbane West Wellcamp airport, the second range crossing and the inland rail. Logistics is an area that could be a huge growth sector for the city."
Toowoomba Chamber of Commerce chief Jo Sheppard said Toowoomba's attractive lifestyle and its business leaders were keeping the city ahead of the curve.
"I don't think there is a city in Australia that has a future as bright as Toowoomba's," she said.
Ms Sheppard pointed to emerging industries such as the technology sector and growth in key industries including agriculture, health and tourism as a major part of Toowoomba's future.
Mr Archer said the research showed regional Australia was a vital part of Australia's economic future.
"What we're getting at the moment is people looking at the latest 12 months of data and saying it's all about Sydney and Melbourne," he said.
"But when you look at the long-term performance, it's not the view that really holds up.
"You hear a lot about how regional areas are struggling, but the economic modelling shows over the medium-term they're going to be fine."