Newspaper article The Chronicle (Toowoomba, Australia)

Region Poised to Be Economic Hot Spot

Newspaper article The Chronicle (Toowoomba, Australia)

Region Poised to Be Economic Hot Spot

Article excerpt

Byline: Adam Davies @thechronicle.com.au

Keys to success

1) Water: Future proofed with pipeline to Wivenhoe Dam

2) Location: 130 km west of Brisbane. Gateway to Darling Downs and Surat Basin.

3) Population: Queensland's largest inland city. Projected population of 200,000 within 10-years

4) Employment: 14,000 new jobs in 2010

5) Affordable: Low median house price. Great gross rental yield

6) Limited new dwelling supply: High costs. Land hoarding. Limited development finance

7) Transport infrastructure: Two rail projects and proposed bypass. Missing link - major regional airport

8) Industrial land: Charlton-Wellcamp development

9) Tourism and Education: 1.3 million visitors per year. World-class universities, schools and colleges

10) Surat Basin: Potentially Australia's largest energy province. Estimated need for 45,000 more workers. More than $80 billion in investments across 40 projects. 4500 businesses in the area, across numerous industries.

TOOWOOMBA is on the verge of becoming Queensland's number one economic hot spot, according to independent property expert Michael Matusik.

Addressing business and civic leaders at the Toowoomba Chamber of Commerce breakfast meeting yesterday, Mr Matusik said the projections for the region were staggering.

aQueensland government figures show that major projects in the Toowoomba region accounted for 33 per cent of the entire state total,a Mr Matusik said.

aFurthermore, the region created 14,000 new jobs last year which equates to 64 per cent of the state's total,a he added.

With Toowoomba seen as the gateway to the Surat Basin, potentially Australia's largest energy province, Mr Matusik said the figures showed investment at $80 billion but, in reality, it was probably closer to $120 billion.

aIt is estimated another 45,000 more jobs will be created across the region and the focus will be on Toowoomba to accommodate them,a he said.

In another boost to the region, Mr Matusik said Toowoomba property prices were among the state's best.

aLocals do not appreciate the market that they are in. Toowoomba is a very happening place with an abundance of opportunities,a Mr Matusik said. …

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