More employment on the cards for northwest Queensland
Posted on Thursday, June 19 2014 at 8:46 AM
Investors and homeowners in northwest Queensland could soon benefit from a bold new plan to bring thousands of people and jobs to the region.
Investors and homeowners in
northwest Queensland could soon benefit from a bold new plan to bring thousands
of people and jobs to the region.
A North West Queensland Strategic Development
Study has been launched by the Mt Isa to Townsville Economic Development
Zone (MITEZ).
It plans for the region to
have up to 40 per cent more workers and a 25 per cent increase in population,
provided the right infrastructure and planning is implemented.
More importantly, perhaps,
the study found potential economic benefits could include broad taxation and
royalty income, greater export values and volumes flowing through Queensland’s
supply chain. This means companies could see their taxes cut by 20 per cent if
they shift from Brisbane or southeast Queensland to the northwest of the state.
“A range of measures exist
to create a more attractive environment for private investment, potential
options for incentivizing new industry and infrastructure investment in the
northwest,” the report says.
“Reduction in company
taxation to 20 per cent for approved companies, based and operating in
northwest Queensland.
“Three to five-year payroll
tax holiday for approved greenfield investments… stamp duty waiver… long-term
debt funding.”
Queensland Premier Campbell
Newman has backed the study.
“Northwest Queensland has
huge economic advantages in untapped mineral resources, tourism and
agriculture,” Newman says.
“The report confirms that
the northwest is bursting with opportunities to improve transport, electricity and
water storage to support new economic growth for Queensland in the future.”
Four key strategic
development priorities were also identified, including new mine exploration and
development, irrigated and intensified agriculture, energy generation, security
and export and supply chain productivity, efficiency and reliability.
For the full report, go to
http://www.mitez.com.au/images/docs/nwq_strategic_development_study_final_2014.pdf
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