State of Markets – QLD September 2012

QUEENSLAND

Resources areas get major infrastructure boost
A major government infrastructure initiative, the ‘Mount Isa to Townsville Economic Zone (MITEZ): 50 Year Freight Infrastructure Plan’ is set to boost economic activity in the region by up to $84 billion annually within the next half decade, infrastructure minister Anthony Albanese has said

The Mount Isa to Townsville area houses 250,000 people and covers 1,000 square kilometres.

An initial contribution of $1.7 million was announced to begin coordination and implementation of the plan.

“I am also announcing $1.5 million in funding to plan for growth [in the] central Queensland zone,” Mr Albanese said. “This vast region covers one third of Queensland, from Gladstone to Mackay and to the Northern Territory and South Australian borders. It includes both the Galilee and Bowen Basins and the ports of Gladstone and Abbott Point.”

Mining area investment ‘a no brainer’
One particular mining area is ‘a no brainer’, with growth forecasts likely to be exceeded, one of the largest property companies in the area has claimed.

The Surat Basin is proving to be increasingly promising for businesses and property investors, with unprecedented interest in the region, according to Surat Basin Property Group’s Jason van Hooft.

A recent Surat Basin Energy and Mining Expo saw record numbers in attendance, with more than 4,000 people on the first day and over 1,000 companies represented.

Of those attending, 1,800 were considering a job change into the region.

Population figures, said Mr van Hooft, are currently pressuring government estimates for 2026, and the annual growth rates of three per cent over the past five years are tipped to rise substantially over the next 10 years.