Gunnedah Shire Council's annual report has revealed that the total number of applications in the 2018/19 financial year was 65, at a value of $22.67 million, down from the 2017/18 financial year total of 97, at $51.95 million.

Mayor Jamie Chaffey said this was because of the "long and devastating effects of the drought", but the community and the council were working hard "to try and negate those negative impacts".

"I'm referring to the establishment of the Community Resilience Program of council and ... the enormous amount of projects that are being delivered in our community at this point in time - in fact, more than $131 million worth of major projects," Cr Chaffey said.

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Applications for tourism were non-existent; the last application put forward was in 2016/17 for a sum of $5900.

But Cr Chaffey said he was "quite confident" that, when the shire recovered, "we can expect our forecast growth in the residential, commercial and industrial developments to continue".

"With the infrastructure construction that's under way in our community at the moment, the exciting development of our new koala park, and the forecast of new industry and projects to come, there is a lot to look forward to in the shire and a lot of opportunities for our local residents in employment and investments," he said.

Gunnedah council isn't the only one feeling the pinch, with Tamworth Regional Council's figures also at a low.

Tamworth's applications were on par with previous years in the first three quarters, but there was a noticeable drop-off in the last quarter, with just 20 approvals worth $13 million.

Gunnedah Chamber of Commerce president Juliana McArthur said there was "no magic wand" to lessen the impacts of drought, but a start needed to be made "somewhere" on a better nationwide approach.

"The same issues pop up every generation. We have very bright minds in Australia in many areas, so why do we seem to just 'muddle through'?", Mrs McArthur said.

"We need bold and inspirational thinking for the long term to assist businesses withstand the impact of drought, which is a recurring feature in Australia.

"We need a focus on regional development of water, infrastructure, transport and services in education and healthcare. We need less regulation and lower taxes for businesses to grow and create employment opportunities."