Surging Moreton Bay Economy Primed for Investors

PARTNER CONTENT 13 JUN 22 The Urban Developer

A south-east Queensland region has been identified as a nation-leading area for growth, with investment in business and industrial real estate booming.?

A property report?by real estate expert and Hotspotting founder Terry Ryder identified Moreton Bay as a ‘growth leader’, with key job drivers including median house prices in the $400,000s, investment in infrastructure, access to local and global markets and lifestyle benefits.

Moreton Bay mayor Peter Flannery said the council was moving quickly to accommodate demand.?

“We aren’t waiting for the federal or state government, we are fast tracking projects now as demand has been huge for everything from our knowledge and innovation precinct at Petrie, The Mill at Moreton Bay, to major projects such as North Harbour and huge industrial land demand at Brendale, Narangba and Caboolture,” Flannery said.

“Opportunities are opening up across our region and the council is committed to supporting investors.

“That’s why we have established a dedicated Investment Attraction Team ready to offer support to businesses every step of the way.”?

Flannery said Moreton Bay was Australia’s third-largest council area by population and one of the nation’s strongest-performing economies, with a gross regional product of $18.7 billion.

“And we are on track to deliver our goal of doubling Moreton Bay’s economy to $40 billion,” Flannery said.

“The most recent economic data shows the performance of our economy ranks first or second across south-east Queensland in categories such as unemployment (job creation) and growth in gross regional product.?

“We also had a net growth in business numbers of 1500, overnight visitation at 905,000, and consumer buying up 4.8 per cent on the same time last year to $8.8 billion.”

The council’s Regional Economic Development Strategy (REDS) is providing long-term economic direction to support the creation of 100,000 jobs and 16,000 new businesses in the region, and ultimately a $40 billion economy by 2041 or earlier.?

Flannery said the council identified four priority industries that were key to continued growth—advanced manufacturing, food and agribusiness, tourism, sports and major events, and knowledge, innovation and entrepreneurship.?

He said the high-value, export-focused industries generated lasting career opportunities, supported in-demand jobs for the local community and attracted a skilled workforce to the region.

Moreton Bay-based business Elexon Electronics is just one of the advanced manufacturing companies contributing to that sector’s $3.3 billion value to the region.?

Elexon Electronics chief executive Frank Faller said the company’s location in a dynamic and progressive environment with purpose-built hubs afforded them a “competitive edge”.

Faller said the company was grateful to have the support of the region, after being awarded Moreton Bay’s Business of the Year in 2021 and receiving an Advanced Manufacturing Excellence Award.

He said Moreton Bay’s access to local and global markets through rail, road and airport infrastructure was vital as Elexon Electronics continued to expand and it was important to be close to global players in mining and defence.?

Faller said he was looking forward to the availability of highly skilled workers and graduates from the University of the Sunshine Coast’s Moreton Bay campus.

“We have established multiple collaborative programs with local university USC and we see them as one of the main feeders to our talent pool,” he said.

Faller said the region’s affordable housing also helped them to attract and retain staff.

“Most of our staff live in the Moreton Bay area and we are hoping to be able to attract more skilled staff to the area as the region grows and develops,” he said.

Flannery said the area also attracted residents who relocated for work but chose to stay for the enviable lifestyle.

“Our residents and visitors enjoy a beautiful climate with more than 300 days of sunshine every year and can take part in a range of major events, festivals and activities from the hinterland to the bay, in our national parks or in our award-winning hospitality venues.

“We know a positive lifestyle boosts employee well-being, satisfaction and retention, and provides investors with a greater ability to attract the finest talent.

“I’m excited for the future of the region as we continue striving to become bigger, bolder and brighter and we welcome businesses and investors who are looking for more to consider Moreton Bay.

“We’re more than just a beautiful place to live, we offer more to businesses.”

For more information about investing in Moreton Bay, you can contact Invest Moreton Bay’s dedicated Investment Attraction Team.

Investors will find support services available to assist their journey at every stage via a single, dedicated contact point able to help with identifying suitable commercial or industrial sites and connections with council services, key influencers, industry bodies and local business networks.

AUTHOR: Partner?Content ?Invest Moreton Bay?