TSBE report reveals record levels of development spend in the Toowoomba Region
Toowoomba and Surat Basin Enterprise (TSBE) has released its latest findings in their Development Status Report for the Toowoomba region that identifies $14.42 billion of investment in Development Projects up to August 2018.
TSBE Chief Executive Officer, Ali Davenport, said the annual report provides a critical insight into the region’s industry climate and helps attract investment into the region to enhance Toowoomba’s robust economy.
“Our 2018 TSBE Development Status Report identifies 157 projects with a record-breaking combined value of $14.42 billion for the Toowoomba region,” Ms Davenport said.
“This represents an eight percent increase since the previous Development Status Report was published in November 2016.
“This strong growth includes a 56 percent increase in property and construction projects between 2016 and 2018 thanks to developments such as Interlink SQ, The Avenues of Highfields, the Fernleigh master-planned community and great council projects such as the $10 million Railway Goods Shed development.”
The Development Status Report also provides an insight into the region’s proposed projects with Toowoomba’s health sector set to benefit from increased growth in the years ahead.
“The health sector is Toowoomba’s largest employer and we’re pleased to see health projects contribute to 25 percent of proposed projects in our current Development Status Report. This indicates significant future investment in the health sector that will continue to help our region deliver world-class care and provide greater job opportunities to support our community,” Ms Davenport said.
“Toowoomba has a promising and sustainable development pipeline that includes responsible investment across all three project stages of pending, approved and underway which is consistent with the long-term sustainable growth of our region.”
TSBE first created The Development Status Report back in 2014 to help inform industry of project costs, locations and estimated completion dates for known developments in the Toowoomba region.
“This report provides a terrific insight into how the Toowoomba region has contributed to long-term economic growth and prosperity of our country.
“TSBE is committed to supporting our local business community. As a major economic development organisation, we provide information to members on key issues affecting the region and deliver vital services and advocacy to local businesses.
“By releasing this Development Status Report, TSBE aims to encourage further investment and economic confidence in the region, and allow local business the opportunity to quote on these projects, so we can continue to grow our economy sustainably,” Ms Davenport said.
The TSBE Development Status Report for the Toowoomba region can be found on the TSBE website here.