Published Wednesday, 29 October, 2008 at 12:13 PM
Minister for Tourism, Regional Development and Industry
The Honourable Desley Boyle
Bligh commits $10M to secure future of regional Queensland economies
The State Government will provide up to $10 million a year to attract new investment and industry into Queensland’s regions.
Regional Development Minister Desley Boyle said tomorrow’s regional economies in Queensland would be diverse, productive and powered by innovation thanks to State Government programs such as the Regional Investment Strategies.
Ms Boyle announced six Regional investment strategies for Cairns and Tropical North Queensland, Townsville and North West, Mackay/Whitsunday, Fitzroy and Central Queensland, Wide Bay Burnett and the Darling Downs and South West Queensland.
“These strategies will promote each region’s investment potential and highlight investment opportunities, activities and targets,” Ms Boyle said.
“We will aggressively target companies in other States and overseas whom it’s considered could significantly add value to priority regional industries.
“Under our Centres of Enterprise initiative we have identified priority industries in each region, and we’ve also identified priority industries state wide.
“Attracting Virgin Blue and Boeing Australia to Brisbane in the past under the Queensland Investment Incentive Scheme has significantly helped build our aviation industry.
“We’ll apply the same principle to building industry in regional Queensland. It’s time to select, target and attract those players whose presence in regional Queensland will boost industry.
“This is the type of scheme that business and industry in regional Queensland has been waiting for, and we’re delivering.
“We’re providing payroll tax rebates of up to 100% and potential cash grants for relocation to attract strategic new investment from outside the state to make this happen.
“Strict qualifying conditions including performance targets will form part of the new Regional Queensland Investment Incentive Scheme (RQIIS).
“Analysis of the current QIIS scheme shows 84% of the projects have been attracted to locations in south east Queensland with only 16% in regional Queensland.
“This is simply not good enough.”
Ms Boyle said company executives who had already decided to base their business in a regional centre would be called on to encourage further investment through a new Regional Business Ambassador Program.
“As well, my Department will host Regional Investment Showcases, so our regions can present their investment potential to the national and international investment market,” Ms Boyle said.
She said businesses the Government wanted to attract to Cairns from interstate or overseas included those involved in high-tech sectors of the aviation, marine and tropical expertise industries, and superyacht manufacturing, refit and maintenance.
“We’re also looking to attract firms involved in the development of infrastructure to support these priority sectors and as well as R&D firms who can develop innovative products for these industries.”
She said one key criteria for giving assistance would be that there was no detriment to an existing business in the region in the same industry.
“Attracting new businesses to our region will boost industry. For example, Hawker Pacific has invested in a $9 million service centre in Cairns and last year received approval to service and maintain Bombardier Dash8/Q-Series aircraft. Cairns is the only location with this endorsement in the whole of Australasia.”
“Our regional centres have a host of positives for investors including well established transport and distribution networks, access to international markets through established trading networks, hubs for new industries such as tropical expertise, growing renewable energy resources, and excellent education services.
“This new regional investment strategy will enable our region to promote these positives and put its best foot forward to attract further investment.”
Ends
Media contact:
Marcus Taylor - 3225 1005 or 0419 025 326
Kirstie Maier – 3224 2007 or 0448 135 195
29 October 2008
Regional Development Minister Desley Boyle said tomorrow’s regional economies in Queensland would be diverse, productive and powered by innovation thanks to State Government programs such as the Regional Investment Strategies.
Ms Boyle announced six Regional investment strategies for Cairns and Tropical North Queensland, Townsville and North West, Mackay/Whitsunday, Fitzroy and Central Queensland, Wide Bay Burnett and the Darling Downs and South West Queensland.
“These strategies will promote each region’s investment potential and highlight investment opportunities, activities and targets,” Ms Boyle said.
“We will aggressively target companies in other States and overseas whom it’s considered could significantly add value to priority regional industries.
“Under our Centres of Enterprise initiative we have identified priority industries in each region, and we’ve also identified priority industries state wide.
“Attracting Virgin Blue and Boeing Australia to Brisbane in the past under the Queensland Investment Incentive Scheme has significantly helped build our aviation industry.
“We’ll apply the same principle to building industry in regional Queensland. It’s time to select, target and attract those players whose presence in regional Queensland will boost industry.
“This is the type of scheme that business and industry in regional Queensland has been waiting for, and we’re delivering.
“We’re providing payroll tax rebates of up to 100% and potential cash grants for relocation to attract strategic new investment from outside the state to make this happen.
“Strict qualifying conditions including performance targets will form part of the new Regional Queensland Investment Incentive Scheme (RQIIS).
“Analysis of the current QIIS scheme shows 84% of the projects have been attracted to locations in south east Queensland with only 16% in regional Queensland.
“This is simply not good enough.”
Ms Boyle said company executives who had already decided to base their business in a regional centre would be called on to encourage further investment through a new Regional Business Ambassador Program.
“As well, my Department will host Regional Investment Showcases, so our regions can present their investment potential to the national and international investment market,” Ms Boyle said.
She said businesses the Government wanted to attract to Cairns from interstate or overseas included those involved in high-tech sectors of the aviation, marine and tropical expertise industries, and superyacht manufacturing, refit and maintenance.
“We’re also looking to attract firms involved in the development of infrastructure to support these priority sectors and as well as R&D firms who can develop innovative products for these industries.”
She said one key criteria for giving assistance would be that there was no detriment to an existing business in the region in the same industry.
“Attracting new businesses to our region will boost industry. For example, Hawker Pacific has invested in a $9 million service centre in Cairns and last year received approval to service and maintain Bombardier Dash8/Q-Series aircraft. Cairns is the only location with this endorsement in the whole of Australasia.”
“Our regional centres have a host of positives for investors including well established transport and distribution networks, access to international markets through established trading networks, hubs for new industries such as tropical expertise, growing renewable energy resources, and excellent education services.
“This new regional investment strategy will enable our region to promote these positives and put its best foot forward to attract further investment.”
Ends
Media contact:
Marcus Taylor - 3225 1005 or 0419 025 326
Kirstie Maier – 3224 2007 or 0448 135 195
29 October 2008