Queensland – Move Up in the World

More than 110,000 people have already “moved up” to Queensland in the past decade and now the Queensland Government is putting out the welcome mat to prospective new residents and business operators.

In Sydney today to outline a new interstate promotional campaign, Queensland Treasurer Curtis Pitt said a number of key factors in favour of moving north.

Mr Pitt said the Queensland – Move Up in the World campaign would highlight the state’s diverse and growing economy, career and investment opportunities in existing and new industries, more affordable housing, cost of living, business incentives, and quality of life.

The campaign begins today with online advertising and a dedicated website moveup.initiatives.qld.gov.au and will be followed by more initiatives in the months ahead.

“We will be showcasing Queensland’s extensive list of advantages when compared to our interstate counterparts,” he said.

“Queensland is much more than mining, tourism and agriculture — we are nation-leaders in a diverse range of fields, have the country’s most innovative and dynamic trading economy, and are open for business.

“We can even tolerate you continuing to support NSW in future State of Origins – although be warned it may not be too popular with your new neighbours.”

Mr Pitt was joined today by members of the Lamb and Prince families who have already decided to move up in the world to Brisbane and Cairns respectively.

Growing economy

The Treasurer said Queensland would be targeting skilled and innovative individuals and families who were looking to take charge of their futures in Queensland’s growing and increasingly diverse economy.

“We also want business owners to think about making a move — especially since Queensland has unrivalled proximity to the growth markets of the Asia Pacific.

“The Queensland Government and our broader business community are investing heavily in science, research and technology both in new industries and our traditional strengths of agriculture, resources, tourism, and education with an eye to the demands of the growing middle classes across Asia.”

Regional opportunities

Mr Pitt said the campaign would focus on more than Brisbane and highlight the state’s heavily decentralised nature with great opportunities to live, work, and invest.

“Nine of the largest 25 urban areas in Australia are in Queensland and these centres provide outstanding community and business opportunities,” he said.

“Queensland also has seven universities headquartered in the State — many in regional cities — plus a high-quality TAFE system, and a world-class school system.”

Key advantages

Mr Pitt said a distinct advantage was Queensland’s highly competitive tax system —while NSW taxpayers would pay $3994 a year per capita in 2017-18 to their state government, Queenslanders were expected to pay $2691.

“Queensland’s state tax per capita is at present $868 less than the average of all other states and territories,” he said.

The Treasurer said Queensland also had lower average house prices — May quarter 2017 CoreLogic RP Data showed the median Brisbane house price was $490,000.

Recent ABS data also showed Brisbane property prices had risen 3.5% in the year to the March quarter compared with 14% in Sydney and 13% in Melbourne.

“That makes it significantly more affordable than the $872,300 average in Sydney and $665,000 in Melbourne,” Mr Pitt said, “and in many well-developed, well-serviced regional and rural centres the difference is even starker.

“When you consider the impacts this cost has on mortgage stress and rental rates there really is no comparison in terms of the basic cost of living.

“We are also helping with affordability through our $20,000 Queensland First Home Owners’ Grant — double that available for people in NSW and metropolitan Victoria for new properties under $750,000.”

Business incentives

Mr Pitt said advantages and incentives for business would also be a big focus of the Queensland - Move Up in the World campaign.

He said at 4.75% Queensland had a lower payroll tax rate compared to 5.45% in NSW and 4.85% for non-regional Victorian businesses, as well as the highest threshold ($1.1 million) at which the tax became applicable (NSW $750,000 and Victoria $625,000).

Mr Pitt said Queensland was known for its strengths in mining, tourism and agriculture, but the state was also experiencing growth across advanced manufacturing, aerospace, biofutures, biomedical and life sciences, defence industries, and mining equipment, technology and services.

“Add to that a Government which is positioning Queensland as the home for innovation through our $420 million Advance Queensland program which has so far backed more than 900 innovators and is supporting more than 2,100 jobs,” he said.

“The Advance Queensland programs include the Hot DesQ initiative through which startups can apply for incentives of up to $100,000 to relocate to Queensland.

“The Startup Muster Annual Report shows Queensland has increased its share of Australian startups from 16.5% in 2015 to 19.3% in 2016, overtaking Victoria to be second only to NSW.

“Our $40 million Business Development Fund is also proving successful. The Fund can invest up to $2.5 million, matched by private sector co-investors, to assist businesses turn their innovative products or services into commercial realities.

“We have already invested $10.9 million in 10 businesses to help them bring their bright ideas to market.

“Our $40 million Industry Attraction Fund has also seen successes including the establishment of a $16 million Advanced Biofuels Pilot Plant in Gladstone that would otherwise have gone to NSW, as well as attracting a new fibre products manufacturing facility, and an agreement for a new robotics centre in Brisbane. “

Population trends

Mr Pitt said before the end of the year Queensland’s population would hit five million, assisted by interstate migration.

“For the past 35 years, without fail, Queensland has seen positive net interstate migration with over 110,000 more people moving to call Queensland home in the past 10 years alone,” he said.

“We are keen for this to continue. Strong population growth supports growing markets that in turn give business the confidence to invest and employ new workers.

“Population growth has played an important role in Queensland’s long-term economic success, and we want more people to move up to Queensland and be part of its growth and future,” he said.

Media contact 0447 316 432