Queensland set to see development of new jobs statewide
Queensland Premier Campbell Newman announced a number of plans to help develop the state in the future earlier this month (November 17), which could be a great benefit for those considering taking out a home loan and make moves into property investment in the future. As the population continues to grow and expand, the need for more accommodation development throughout the state could be a huge draw card for buyers interested in buying property in the Sunshine State.
Working alongside a number of different companies, Mr Campbell said that through strategic investment, there was the potential to create up to 28,000 new jobs across the state, with a major emphasis being placed on new infrastructure in the Galilee Basin - allowing for future resource and mining projects to be undertaken in the region.
He mentioned the Galilee Basin Development Strategy, which will begin the preparations for a number of different infrastructure investment plans throughout the region. For example, one of the first projects will be the construction of a $16.5 billion rail link between the Carmichael project to the Port of Abbot Point.
"The Carmichael project could create almost 6,500 jobs and this agreement will see the Queensland government invest in the rail line needed to carry coal to port. The mine and rail project has received both State and Commonwealth environmental approval and will be subject to 226 environmental conditions," said Mr Campbell in a November 17 statement.
Creating a future for the state of Queensland
Furthermore, Deputy Premier and the Minister for State Development, Infrastructure and Planning Jeff Seeney said these agreements would be key in helping boost the future development and growth of Queensland. Things like roads and railway infrastructure are the backbone of state development, and in order to continue growing the region needs to find new, innovative ways of developing them.
Adani Australia, the development group responsible for the project, has committed to an environmentally-supportive model, which could be great news for those looking towards a sustainable future for the state.
"Adani's Carmichael project is expected to inject $500 million into Queensland's economy during construction and $3 billion at full export capacity. This is the revenue that will build the schools, hospitals and roads our state needs in the future," said Mr Seeney.
"Our decision to help build the rail link for this project will get it happening more quickly and ensure its benefits start to flow to the people of Queensland."
Estimated yields from the project highlight the potential to transport 100 million tonnes of coal per annum and create an additional $790 million worth of financing for Queensland's regional economy - as well as a huge $900 million for the overarching Queensland state during the construction phase alone.
The importance of infrastructure development for investment projects in Queensland cannot be overstated. The region is one of the strongest states and is expected to see huge leaps forward, with both tourism and the strength of its housing market beginning to draw more and more people into the region.
Now could be the perfect time to begin looking into your finance and property options across the state. Whether it's an established home you're interested in, or if you'd like to take out a construction home loan and create your own vision for the future, getting in early is a great way to facilitate this success.
The current financial landscape offers some fantastically low interest rates for you to take advantage of, allowing you to create an investment portfolio with ease in the Sunshine State and take advantage of the rapidly-developing environment today.
Image credit: Nam Nguyen