The prospect of strong jobs growth is just one of the reasons why so many businesses are showing an interest in commercial leasing in Surfers Paradise and other parts of the Gold Coast. A new report has suggested that despite the difficulties posed by the end of the mining boom, the region is now picking up pace and offering greater employment opportunities than many other parts of the country.
The Australia Institute explained that it's service industries that are currently leading the charge, and there are already strong prospects that this will continue for many years to come. In fact, the group predicts that services will provide the lion's share of jobs at least until the end of the current decade.
In many respects, Queensland faced a fight or flight scenario when heightened resources sector activity came to an end. Thankfully, it opted for the former, and its unemployment levels have stayed down ever since.
"We will continue to work hard to attract new investment and generate jobs as we transition to the post-mining boom economy and move away from the peak of upfront investment in mining and resources construction to the production phase," said state treasurer Curtis Pitt.
He emphasised that trend employment across the Sunshine State now stands at 6.2 per cent, with around 1,210 new roles being added to the mix every month. It is this level of growth that's exciting to businesses and will encourage them to take a closer look at leasing commercial property in the region.
Tom Swann, researcher at The Australia Institute and co-author of this latest report, revealed that Queensland has faced its fair share of ups and downs. However, as is usually the case, it's how the state has dealt with this turmoil that will mean the most to current and future success.
Mr Swann noted that in 2015, jobs growth throughout Queensland hit a seven-year high. This, coupled with the easing of the domestic currency and cost pressures, meant that the state was once again given the opportunity to thrive.
It's not just services that are expected to perform well, even if the sector does presently account for four out of every five jobs in the state. The report identified that building-related construction is forecast to grow strongly alongside food product manufacturing, which is the largest industry of its kind.
The state government has reaffirmed its commitment to making further investment throughout Queensland. Infrastructure is one area that's been particularly earmarked for development, although there are several key projects that will no doubt catch the attention of investors.
In recent weeks, the government announced that further investment would be made in the Jupiters Resort on the Gold Coast, further enhancing the region's position on the global map. As a result, demand for industrial leasing in Surfers Paradise and other parts of the region may grow even further.
"The Queensland State Accounts show annualised growth in gross state product of 2.6 per cent in the December quarter 2015 compared with a revised growth figure for the September quarter of 2.4 per cent," Mr Pitt acknowledged.
At a time when some other parts of the country are struggling, these results are likely to offer reassurance to anyone who's been pondering a move to this thriving area of Queensland. If you see the future of your business here, be sure to give us a call to discuss more about the commercial property options that are available to you.