- Thursday 07 May 2015
Sunshine Coast’s competitive business environment, accessibility to markets, proposed new infrastructure, a highly-skilled workforce and idyllic lifestyle are the winning combinations being promoted to attract national and international investment.
The runs are on the board, with significant investment already underway, Mayor Mark Jamieson told business leaders at last night’s (May 6) launch of the Invest Sunshine Coast prospectus and associated collateral.
“Our message is very clear – the future is here on the Sunshine Coast,” Mayor Mark Jamieson said.
“This is an important time in the history of the Sunshine Coast as we seek to take a leading position as a major Australian urban and economic centre.
“The Sunshine Coast has excellent credentials, has experienced higher than the national average in terms of annual economic growth since 2001 and has a clear strategy over the next 20 years to shape the development of our economy and deliver prosperity for the community.
“And the icing on the cake is that we can point to more than $2.5 billion in investment already committed to major infrastructure projects and more than $8 billion in private investment either committed or in the pipeline.
“We would be hard-pressed to point to another region in Australia that has the same combination of opportunities that are ripe for the discerning investor.”
Mayor Jamieson said the new city centre – the only greenfield CBD in Australia at this time – would be established at Maroochydore and a new $1.8 billion tertiary teaching hospital would open in 2016.
“The Sunshine Coast Airport’s $347 million expansion will deliver Australia’s next international airport and the $81 million expansion of the University of the Sunshine Coast is nearing completion,” Mayor Jamieson said.
“With the launch of this prospectus, we are reinforcing our welcome to new investors as well as those already investing in the region.
“The Sunshine Coast is inviting them to share in the region’s strong property, infrastructure and business opportunities.
“The significant level of investment already occurring in these opportunities is fuelling growth in a number of high-value industries which are targeted in our Regional Economic Development Strategy”.
“The Sunshine Coast is home to, or provides a significant base for, a number of highly reputable companies such as Australia Zoo, Ramsay Health Care, Aeromil Pacific, Youi Insurance, Gourmet Garden and Rockcote - each representing the high-value industries the Sunshine Coast is keen to attract and develop.”
The event showcased a range of capital projects and promoted the region as a place in which entrepreneurs, developers, capital investors, relocating corporations, businesses, fund managers and government agencies would benefit from doing business.
Mayor Jamieson said as one of Queensland’s fastest growing regions and Australia’s top 10 significant urban areas, the Sunshine Coast was becoming one of the country’s leading regional economies having nearly doubled in size in the last decade.
“This region offers investors an unrivalled mix of quality investment opportunities, prime commercial and coastal locations and an idyllic lifestyle and environment,” he said.
“People are already taking notice of some of the important projects we are progressing to shape the future of the region and the feedback I am receiving from both the public and the private sectors in Brisbane and the southern capitals is that the Sunshine Coast is getting on the radar as a location for investment.
“The conversations and meetings I have had with major institutional investors, fund managers and property and commercial investors in Sydney and Melbourne are demonstrating a keen interest to be part of the future of the Sunshine Coast.
“Furthermore, the important work that we are doing – and will continue to do – in promoting the Sunshine Coast in major international markets will build strong investment and business connections, particularly in the Asia Pacific, the Middle East and the major capital markets in the United Kingdom and Europe.
“And at the end of the day, the winner from this is our community, as new investment generates new business offering more enduring employment opportunities and delivers new facilities and services to meet the needs of our residents.”
The Sunshine Coast economy - fast facts:
- A gross regional product of more than $13 billion – twice what it was a decade ago and now one of the largest regional economies in Queensland
- The economy is predicted to grow to reach $33 billion by 2033, accompanied by an increase in high-value employment, export and household income.
- An average annual economic growth rate of 4.05% since 2001 – higher than the national economic growth rate of 3.08% (International Monetary Fund 2013 and NIEIR 2014).
- Aggregated population growth of 10.1% over the five-year period between 2008 and 2013 – higher than the national growth rate of 8.7% - and forecast to have the second fastest population growth rate of any sub-state region in Queensland through to 2036.
- Fourth largest region outside the state capital by resident population and 10th largest significant urban area in Australia by population
- More than 30,000 registered businesses
- Highest level of business confidence of any region in Queensland (Westpac Pulse survey 2014) with 56% of businesses expecting an increase in profitability in 2015 (Sunshine Coast Business Survey, November 2014)
- Highest growth in international visitors (9.4%) of any region in the year ending September 2014 (international visitor survey)
- More than $2.5 billion in overall direct visitor expenditure (Tourism and Events Queensland, 2014).