Agriculture, transport and logistics key to unlocking region's future

The agriculture and transport and logistics sectors will play a vital role in assisting the Toowoomba and Surat Basin region reach $10 billion of growth by 2030.

The preliminary report has been released from the Regional Australia Institute’s (RAI) Pathfinder Project which sought to identify the key industries that will play a vital role in driving growth opportunities for the future of the Toowoomba and Surat Basin region.

The RAI collaboratively delivered the project with partners Toowoomba and Surat Basin Enterprise (TSBE), QGC, Australia Pacific LNG and Regional Development Australia Darling Downs and South West (RDA), along with support from the Western Downs and Maranoa regional councils.

“The report delivered reconfirms the validity of economic development work done to date in the region,” TSBE chief executive officer Dr Ben Lyons said.

“Further to this, the report also reinforces the crucial part transport and logistics and our agriculture sector will play in the region’s future.”

The report outlined that with agriculture the leading industry for all three local government areas, targeted investment and collaborative co-ordination to build local capacity was key to unlocking the sector’s future prosperity.

The region’s logistical assets, such as the Toowoomba Second Range Crossing and Brisbane West Wellcamp Airport, were also identified as key factors for the region’s future success, however the report highlighted that simply having the infrastructure was not enough.

“In order to guarantee we capitalise on the maximum potential presented by the region’s transport and logistics infrastructure, co-ordination from both the public and private sector players is a must,” Dr Lyons said.

“A key part of this will be ensuring we can secure upgraded rail infrastructure for this region.”

The region’s solid economic foundations were supported by four key strengths identified in the report including boasting a competitive advantage, industry and supply chain advantages, increasing population and investment trends and strong leadership and institutional trends.

The Regional Australia Institute CEO, Jack Archer said the RAI’s Pathfinder Initiative identifies the most important factors for economic prosperity in a region and ways the community can boost its capacity to drive change.

“Our work shows that the Toowoomba and Surat Basin Pathfinder region is a relatively strong performer in the agriculture and logistics sectors,” Mr Archer said.

“The project has delivered a solid evidence base which can be used to identify opportunities for economic development.”

“Regional collaboration is vital to ensure the Toowoomba and Surat Basin region can reach its full potential, and it is pleasing to see joint commitment from all stakeholders to deliver sustainable growth and diversity in the region going forward which is what this project was focused on delivering,” Dr Lyons said.

TSBE and RDA, along with the project partners, local government representatives and key stakeholders, will now review the actions outlined in the report for prioritisation.