Developments are going full speed ahead in the Toowoomba Region

MEDIA RELEASE: Developments are going full speed ahead in the Toowoomba Region

Toowoomba and Surat Basin Enterprise (TSBE) has released its latest findings in their report detailing the project pipeline in the Toowoomba Region.

The Toowoomba Development Status Report identifies $18.8 billion of investment in development projects in the region.

TSBE Chief Executive Officer, Ali Davenport, said this report provides a critical insight into the region’s developments and helps attract investment to enhance Toowoomba’s robust economy.

“The 2022 TSBE Development Status Report identifies investment across all three project stages of pending, approved and underway, showing a combined value of $18.8 billion for the Toowoomba Region,” Ms Davenport said.

"Compared to the previous Development Status Report which was released 18 months ago, the 2022 report shows an increase of $5.7 billion with significant projects in the pipeline.”

“Renewable energy continues to contribute to the large pipeline of projects, such as the $2 billion MacIntyre Wind Farm and the proposed Pumped Hydro project ($980 million) and the Bulli Creek Solar Farm ($1 billion).”

“These projects will continue to stimulate the local economy and provide local businesses with plenty of opportunities,” said Ms Davenport.

“Large scale companies are investing billions of dollars into Toowoomba due to our diverse economy, the growth opportunities and the liveability of the region.”

“The combination of Inland Rail, the booming agricultural sector, the growing health industry, the sheer number of jobs in resources and renewable projects along with our strength in education and manufacturing shows that investment in this region is booming.”

“The projects outlined in this report tell an exciting story about Toowoomba’s prosperous future but we know that this pipeline is also reliant of Federal and State Government investment in our region.”

The Development Status Report also provides an insight into the Region’s proposed projects with Toowoomba set to benefit from increased growth in the years ahead.

Toowoomba Region Mayor Paul Antonio said the report indicated significant future investment that would continue to help the Toowoomba Region deliver world-class facilities and provide greater job opportunities to support the local community.

“Toowoomba has one of the nation’s most diverse regional economies and as such, this significant increase of investment comes as no surprise to me,” Mayor Antonio said.

“Whenever I go to events and conferences throughout Australia, I’m constantly asked about the level of activity taking place in our region.”

“In recent years we’ve seen the construction of the Toowoomba Bypass as well as an internationally-capable airport and we will soon have the Inland Rail on our doorstep which makes us a transport and logistics hub and such an attractive place to invest.”

Toowoomba has a promising and sustainable development pipeline which is consistent with long-term sustainable growth.

TSBE first created the Development Status Report in 2014 to help inform industry of project costs, locations and estimated completion dates for known developments in the Toowoomba Region.

These reports are a great tool to highlight the level of growth and activity in Toowoomba and stimulate enquiry from external investors.

“This report provides a terrific insight into how the Toowoomba Region has contributed to long-term economic growth and prosperity of our country,” Ms Davenport said.

“By releasing the 2022 Development Status Report, TSBE aims to encourage further investment and economic confidence in the region.”

“This will allow local business the opportunity to quote on these projects, so we can continue to grow our economy sustainably.”

The TSBE Development Status Report for Toowoomba can be found here.