Economic figures show business is flourishing in the Clarence, according to Clarence Valley Council. The Clarence Valley economy grew by 5.9 per cent in 2015/16, or close to 2.5 per cent more than the average for New South Wales of 3.5 per cent, according to figures provided to council. The figures, included in the latest Clarence Valley Economic Monitor, also showed the regional labour market remained strong, with the lowest unemployment rate in more than five years of 5.7 per cent, which is lower than the Northern Rivers region average of 6.3 per cent. Residential housing prices on average went up 8.6 per cent, however the Clarence Valley continues to have a higher level of affordability compared with metropolitan areas as well as higher investment returns on residential property (5.1 per cent) which was also higher than the averages for the Greater Sydney region (3.4 per cent) and New South Wales (3.7 per cent). Other positive indicators include average Clarence Valley business turnover of about $342,000 (up 6.9 per cent) and the Grafton Airport recording 16,034 passenger movements, representing an annual increase of 16 per cent. Clarence Valley Council’s economic development coordinator, Liz Fairweather, said the figures were again good. “We are in the midst of an infrastructure boom in the Clarence Valley and the benefit to local business is showing,” she said. For the full report, visit www.clarence.nsw.gov.au/economicmonitor