With more than $13 billion in mining projects projected for the Isaac region over the next 20 years, the region is being recognised as “a powerhouse” that is providing a solid platform for backing regional Queensland and for future investments.
The Greater Whitsunday Alliance’s Regional Projects Development Register update, released on May 29, showed more than $30 billion worth of projects have been listed.
The register lists 451 projects and highlights the developments in the Mackay Isaac Whitsunday region.
Mackay has more than $1.065 billion in infrastructure projects planned; Isaac has more than $13 billion in mining projects over the next 20 years; while Whitsunday has more than $7 billion in infrastructure.
GW3 CEO Garry Scanlan said the data was sourced through CoreLogic, Australia’s largest provider of property related information and analytics.
“The construction sector is showing excellent signs of recovery with more than $5 billion worth of projects planned across the three regions,” Mr Scanlan said.
“This has increased from the $4 billion worth of projects planned in August 2018.
“Obviously the Isaac region is a powerhouse in the resources sector and I think that’s reflective of the resources projects that have commenced, have been committed to or are being considered at the moment.”
He said the resources sector was still a critical part of the national economy.
“I think the level of investment that we can see now – 20 years is a fair investment horizon – is testament to the commitment of the resources sector being around long-term.
“People need to understand the resources sector underpins a lot of our national and state economy.”
He said regional jobs were created and large projects didn’t exist in isolation – instead they drew people and equipment to the area from around the state, country and world.
Mr Scanlan said regional and remote residents could also find work that supplemented their existing incomes in the resources sector.
“It gives people an alternative income. In reality, the resources sector is required and will be required for quite some time.”
He said the register highlighted the number of renewable energy projects up and running or planned for the area.
Isaac Regional Council Mayor Anne Baker said a resurgent resources sector provided a catalyst for projects across the region and any investment into infrastructure, resources and construction in the Isaac would benefit residents and workers.
“We have one of the lowest unemployment rates in the nation and what we are seeing in Isaac is that resources companies are making strategic long-term investments in the region.
“In recent weeks we have seen approvals for significant resources projects in the Bowen Basin, including Winchester South and Olive Downs,” Cr Baker said.
“Plus, there has been a shift in the national conversation about the economic potential which can be unlocked in the Galilee Basin.
“Our aim is for the region to be attractive to potential investors and businesses, as well as boosting employment and spend in our region for long-term economic stability.”
Cr Baker said it was “great to see that success rewarded by approvals and the commencement of significant resource and infrastructure projects designed to improve the opportunities available”.
Source: cqnews.com.au
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