You may not realise, but Townsville North Queensland possesses one of the most diverse industry landscapes across Australia. Where else can you find a region that services one of the world’s richest minerals provinces, is home to leading universities and research institutions, rich agriculture, two elite national sporting organisations, a thriving tourism industry centred upon the Great Barrier Reef, as well as serving as the base of the largest military presence in Australia. This is just beginning to scratch the surface.

Gone are the days when we had to simply rely on the mining ‘boom’ to consider ourselves an economically rich region. Don’t get me wrong, the resurgence of the mining industry has made a welcomed return off the back of strengthened commodity prices; however, it is no longer the be-all and end-all. The mining decline forced our region to think outside of what we’ve always leaned on and identify alternative industries that can help generate new employment, as well as offer greater job security and fortitude in an evolving world.

With varied industry, comes varied opportunity. These opportunities might be across innovative new industries, some that have been dormant in recent years or others that have continued to keep the region’s economy ticking over year after year. Education, health and Defence have been the mainstays of our economy in recent times and are critical components of Townsville North Queensland’s makeup. Growing sectors such as construction, renewable energy and major events are beginning to make their mark, offering a multitude of employment and engagement opportunities across the region.

While the pain of the Yabulu Nickel Refinery closure is still raw for the 800 employees who suddenly lost their jobs – the light that seemed so dim at the end of the tunnel is now beginning to glow. While we’re not getting carried away, professing that the light is shining brightly; hope, optimism and renewed business confidence has returned. The December Townsville North Queensland Quarterly Economic Snapshot identified that the PVW Partners business confidence index has continued to show strength, with local businesses indicating positive confidence for the sixth consecutive quarter. The region’s increase in business confidence is attributed to a number of recent positive announcements, projects and initiatives that will ultimately grow the region’s economy.

Key factors driving improved business confidence include the announcement of Townsville as one of two Fly-In-Fly-Out (FIFO) workforce hubs for the Adani Carmichael project. The project will generate over 1,100 Townsville based construction jobs and over 600 operational jobs. The Adani announcement, on top of a significant pipeline of infrastructure works (including the committed $225 million Haughton Pipeline duplication, the Sun Metals and Ross River solar farms and the $250 million North Queensland Stadium), should see macroeconomic indicators begin to improve in this first quarter of 2018.

“These opportunities might be across innovative new industries, some that have been dormant in recent years or others that have continued to keep the region’s economy ticking over.”

The realisation of the North Queensland Stadium is the catalyst to support Townsville’s CBD revitalisation agenda and will pave the way for priority urban renewal project investment that will transform the city’s landscape. The geographic, operational, and economic arguments associated with Townsville North Queensland taking a greater strategic role in support of Australian Defence Force activities also continues to gain momentum.

Over the next decade, the Defence sector will present significant growth and investment opportunities for the region. This will be largely due to the $2.25B Singapore-Australia Comprehensive Strategic Partnership (CSP), where 14,000 Singapore Armed Forces personnel will descend on the region from 2020, as well as Townsville’s recently established North Queensland Defence Advisory Board. This Board will facilitate the development of local Defence industries supporting the region’s objective of emerging as a deep maintenance, sustainment and logistics hub for Northern Australia. This objective will also serve to alleviate the region’s veteran employment issues, working to produce the next generation of jobs and a variety of career opportunities for ex-service men and women and the broader community.

The projects and developments either currently under construction or in the pipeline to be completed by 2021 are worth over $2.65B to the Townsville North Queensland region. The opportunities already on offer, and the multitude of others on the horizon, present a positive outlook for the region’s future prosperity. For a more in-depth understanding of the aforementioned local industries, prospective projects and how you can tap into these opportunities, the third edition of Townsville Enterprise’s dedicated guide to this will be released this month. Opportunity Townsville North Queensland is a comprehensive guide into the established and developing major industries in the region, provided through informative overviews of projects recently delivered, under construction or in various stages of development. To learn more, download your digital copy at townsvillenterprise.com.au.