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Friday, 26 May 2017
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Townsville and North West Queensland

 

Townsville and North West Queensland is Northern Australia’s fastest growing economic region. The region covers Townsville, Burdekin Shire, Hinchinbrook Shire and Charters Towers and boasts a resilient and diverse range of business, industry and government sectors, and offers a wealth of investment opportunities and a lifestyle that’s hard to match.

The region has experienced an average increase of 10 per cent in economic growth since 2002 and its commitment to infrastructure investment has enabled the region to plan for sustainable economic growth and regional development without compromising lifestyle.

An abundance of natural resources including “mineral resources, a diverse natural environment, rich agricultural soils and extensive grazing areas” are behind the region’s economic strength.

Mining and minerals processing and renewable energy including bagasse, wind and solar power are increasingly expanding industries in the region and opportunities “for the development of bio-based fuels and industrial products with research into algal-based products” are currently being explored.'

The Burdekin “is the largest sugar-producing region in Australia with an annual production of 1.3 million tonnes of raw sugar” – an approximately one-quarter of the total cane supply to the Australian sugar industry”.

Other major crops include beef and an array of horticultural crops while emerging sectors include aquaculture, grains, legumes and cotton”.
“The increasing wealth and population growth of the tropical world is driving demand and creating new market opportunities for tropical expertise” and Townsville has an especially strong internationally competitive advantage in this area that “is anchored by extensive research and academic facilities” across areas including biotechnology, marine science, biology, agriculture, aquaculture and health and medicine.

The region also has “strengths in horticultural processing, advanced manufacturing, general aviation and tourism” and is well positioned to capitalise on these industries.

Information adapted from the 2013 LSQ Member Directory.