How incentives may build more than infrastructure
A RIPPLE effect with positive impacts on Bundaberg’s economic and employment status could be set into motion with the latest government construction and development incentives.
At least that is the hope of one local town planner.
In light of the job losses and economic toll coronavirus has caused across the country, it’s no surprise that a helping hand has been welcomed to start building more than just infrastructure.
Insite SJC principal town planner Shane Booth said the COVID-19 pandemic created a great deal of economic uncertainty, which was felt throughout a number of industries including the construction and development sector.
“This sector is one of the largest employers in Queensland and significantly contributes to both employment growth and economic stability,” Mr Booth said.
“This is also the case in the Bundaberg region where the construction and development sector underpins the region’s economic stability and the uncertainty created by COVID-19 was certainly felt within the region.
“We welcome any incentives offered by governments, whether at the Federal, State or Local level and the current Building Bundaberg Region incentives offered by council are a welcome stimulus to the construction and development industry.”
As the industry seeks to rebuild post-Covid 19, he said the incentives package would provide much needed relief and would inevitably make projects more viable which in-turn would lead to a retention of jobs within the sector and “hopefully even result in regional employment growth”.
Among some of the relief measures included in the Building Bundaberg Region package is an extended time frame for completion of developments already incentivised under the previous Open for Development scheme by two years, to the end of June 2022.
Bundaberg Mayor Jack Dempsey said there were about 40 projects which may be difficult to complete by June 2020 given COVID-19 impacts.
“Giving a blanket extension to these shovel-ready developments will provide a bank of incentivised projects that can be taken up relatively quickly,” he said.