Newspaper article Sunshine Coast Daily (Maroochydore, Australia)

Coast Heading for Economic Boost; Report Identifies Major Growth Areas for Re-Emerging Sunshine Coast Economy, Erle Levey Takes a Look

Newspaper article Sunshine Coast Daily (Maroochydore, Australia)

Coast Heading for Economic Boost; Report Identifies Major Growth Areas for Re-Emerging Sunshine Coast Economy, Erle Levey Takes a Look

Article excerpt

A NEW report on the future economy of the Sunshine Coast points to signs of boom days ahead, with emerging a[approximately]capital city' Maroochydore figuring prominently as the hub of growth.

Independent research firm Resolution Research Strategies found the Coast's economy has doubled in size over the past decade, with continued growth expected, providing opportunities for investors and residents alike.

New public and private infrastructure investment on the Coast is estimated to be in excess of $4.35billion, fuelling an estimated 30,000 new jobs.

Maroochydore is in the process of massive expansion. Its growth will continue, by design, over a number of years, driving a concurrent demand for residential accommodation and generating long-term employment opportunities.

The Resolution Research study was commissioned by Maroochydore-based development firm Reed Property Group.

New residents:

The study predicts an increase in the Coast's population, with an estimated resident's population of more than 500,000 residents expected in 20 years' time, far exceeding the current base of about 320,000 as reflected in the 2011 Census, an increase of 27% from 2006. The census also revealed that the new-resident population of Queensland has increased 11% since 2006 to 4.3 million.

A strong wave of new residents is likely to equate to new job opportunities, according to the managing director of Resolution Research, Diana Howes.

aWith population growth comes an expected influx of jobs, bolstering opportunities and revitalising the Coast,a Ms Howes said.

aThis study points to a brighter long term outlook for the Sunshine Coast than most pundits have envisaged, with strong potential for growth, and promising economic and infrastructure projects in the pipeline.a

Capital city emerges:

The greater Maroochydore area is the heart of the regional Sunshine Coast commercial centre, and the nucleus of education on the Coast.

aIt's our view that the dynamic growth in the Maroochydore area will fuel increased demand for new dwellings throughout the Sunshine Coast, with the new a[approximately]capital city' as the epicentre,a Ms Howes said. …

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