More than $5 billion worth of major projects are under construction in the Townsville region, with a further 51 – worth $8.52 billion – moving towards the turning of the first sod within two years.
That’s according to the latest Opportunity Townsville North Queensland report, released today by Townsville Enterprise.
The peak economic development group says the catalogue of the region’s development pipeline paints a robust picture of the region’s economy.
“Townsville North Queensland is on the cusp of a major transformation which will see unprecedented opportunities, locally, nationally and internationally,” Townsville Enterprise chief executive officer Patricia O’Callaghan said.
“With three tiers of government committed to delivering one of the region’s largest infrastructure projects (the Integrated Stadium & Entertainment Centre), a global alliance with Singapore and government budgets focussed on regional Australia – there has never been a better time than now to invest.”
Opportunity Townsville North Queensland documents 51 major projects with a total value of $1.34 billion delivered in the last two years and 74 major projects under construction.
Ms O’Callaghan said private investment accounted for $7.93 billion of the further $8.52 billion worth of major projects moving towards starting construction in the next 24 months.
“The report also shows that our Gross Regional Product (GRP) reached $13.5 billion in 2016 – on a per capita basis, this is comparable to the GRP of Australia’s capital cities,” she said.
Readers can view the report by clicking here.
(Hard copies can be purchased from Townsville Enterprise.)