Building approvals up 73%
COMMERCIAL and industrial building approvals across Bundaberg to October last year have skyrocketed by 73% compared to the same period the year before.
This has given the region a much-needed $144 million economic boost.
Bundaberg Mayor Jack Dempsey said the figures - a combination of stats from the Australian Bureau of Statistics and Wide Bay economic consultants Lawrence Consulting - indicate the surge in investment and development in 2016 translated into major job creating projects.
Bundaberg Chamber of Commerce president Yale Morgan said it showed outside investment into Bundaberg was strong.
"The investment is not just in capital resources, but in human resources,” he said.
"We would expect to see out of that, more employment opportunities as well as investment opportunities from purchases made locally.
"It should have a flow-on effect on the economy.
"The best way to capitalise on this is to be quite vocal about the results.”
Cr Dempsey said to date our region was a star performer with our approval growth in excess of 70% dwarfing the Queensland commercial and industrial construction sector growth average of about 25%.
"Council certainly played a significant role in supporting the resurrection of the region's commercial and industrial construction sector with projects like the multiuse facility and Rubyanna contributing strongly to the overall investment figure which is exceeding $144 million,” he said.
"Projects as big as the $71 million Knauf plasterboard factory and ongoing Palm Lakes Resort expansion through to mid-range projects like Stockwell's new Coles project at Kensington and council's new animal control facility at Qunaba were key economic drivers.”
Cr Dempsey said although housing construction had dipped slightly during the same period he remained confident that job creation projects would lead to an increase in land purchase and home construction.