With the release of the state budget, the Queensland government has made series of strong statements about its vision for our cities and regions in the coming years. The Palaszczuk administration has now released a raft of measures to address employment, infrastructure and growth in the state, which will be pertinent for anyone seeking commercial property for sale on the Gold Coast.
Opening up business or expanding into a new premises means finding an area that is teeming with growth, both from capital gains and turnover perspectives. With this in mind, there has been a large amount of funding pushed ahead for infrastructure and jobs that should foster significant advancement for the regions.
Creating new jobs means more money and general economic activity flowing throughout the state, and future employment plans are bright. The Queensland government has announced a $10.1billion capital works programme, which is going to foster local working opportunities right across the state.
"Queensland Treasury estimates that the State's 2015-16 capital works program will directly support around 27,500 full-time equivalent jobs," said state treasurer Curtis Pitt.
"Of these, 10,500 jobs are expected to be supported by roads and transport-related projects, with almost $4 billion committed to infrastructure and capital grants for Queensland's roads and transport network," he specified.
This doesn't just mean more growth opportunities for commercial property on the Gold Coast, but also heightened connectivity statewide. Anyone opening branches of a business up and down the coast, or with a commute to their retail leasing on the Gold Coast, will benefit from better road and rail links – as well as improved facilities.
A number of specific projects have been outlined in the state budget that will benefit from funding. This includes $1.3billion towards health facilities, which sustains as many as 3,500 jobs statewide. One project named in the beneficiaries is the Gold Coast University Hospital.
Valued at $1.76billion overall, this hospital is actually Queensland's biggest ever public health infrastructure project. As well as having state of the art facilities for healthcare and training, it also offers retail leasing on the Gold Coast, with 12 different outlets and services on site.
The budget has allocated $113.6million for the finalisation of projects like the Gold Coast University Hospital, which centres our part of the state as a central hub for SE Queensland. It's something likely to attract a lot of attention from both people seeking somewhere to live, and those interested in expanding their business to burgeoning centres like the Gold Coast.
On top of these developments, the Gold Coast rail line is also going to receive a healthy boost under the state budget. There is $568.4million allocated for the continued construction and improvement of rail lines statewide, with the duplication of our local line high on the priority list.
Roads will also be a focus as we move towards the 2018 Commonwealth Games. There is $161million set aside for the improvements of our tarmac, which will improve accessibility and safety across the Gold Coast.
Infrastructure is the backbone of a good region, and these developments set us up for an excellent next few years. Any ensuing growth will be something to pique the interest of business owners looking to expand, and Ray White Surfers Paradise is well poised to help these people buy commercial property on the Gold Coast.
We have a wide network of offices up and down the coast, each with the expertise necessary to find exactly what is needed for a huge variety of businesses. To find out more, give us a call or drop into one of our many shop fronts.