UPDATE: Major projects are set to determine Tamworth’s economic security as local businesses express cautious optimism amidst ongoing challenges. With the Tamworth Country Music Festival just around the corner, officials are urging the community to rally together for a boost in tourism and revenue.
Local business leaders, including Craig Clarke, treasurer of the Tamworth Business Chamber, emphasize the importance of the festival in attracting visitors. “We’re all hoping that we get more people than last year into the region for that,” Clarke stated. However, he cautioned that rising borrowing costs, high living expenses, and a persistent worker shortage continue to create a tough environment for businesses.
As Tamworth prepares for the festival, which is expected to draw significant crowds, Clarke pointed out that essential projects slated for 2026 could provide much-needed economic relief. “Projects like the Skywalk and the new university are crucial for bringing in business through construction jobs and future patrons,” he added.
The community is currently grappling with elevated interest rates and a decline in discretionary spending. “Higher borrowing costs and the cost of living are hitting discretionary sales hard,” Clarke explained. “We suggest businesses focus heavily on managing their cash flow.” With Tamworth still enjoying one of the lowest unemployment rates in Australia, the worker shortage remains a double-edged sword, leaving many unable to find housing close to their jobs.
In parallel, local retailers like Sarah Hooper, owner of Tajoh & GG, are feeling the impact of these economic pressures. Hooper, who transitioned her children’s wear boutique from a market stall to a prime location in the post office building, remarked, “People aren’t spending as much as they were. It could be due to the cost of living or online sales—it’s hard to pinpoint.” However, Hooper remains optimistic about the upcoming festival, positioned next to the bustling Fan Zone, which is expected to drive foot traffic to her store.
Hooper expressed gratitude for the community’s support, stating, “We’ve had a lot of good community feedback and lots of customers returning. So I think, yeah, the town has been supporting us, which is great.” As businesses brace for the festival, the hope is that it will provide a much-needed boost to the local economy.
The Tamworth Business Chamber is actively pushing for faster approvals for housing projects, acknowledging that the city’s strong agricultural and service industries are hindered by the lack of available housing. Clarke welcomed the recent “postage stamp pricing” for infrastructure connections for developments like Arcadia and Hills Plains, which, despite controversy, has the potential to enhance long-term growth.
Looking ahead, the emphasis remains on the critical role of upcoming infrastructure projects. With mounting pressures on local businesses and residents, the focus is clear: Tamworth’s economic future depends on these developments moving forward swiftly. Community leaders urge residents to remain engaged and supportive as the city navigates these challenges and opportunities.
As the festival approaches, all eyes will be on Tamworth to see if these efforts can turn the tide and usher in a period of recovery and growth.
