Council launches plan to turbocharge economy

Published 03 February 2021

Regional Economic Development Strategy

Two decades from now Moreton Bay will boast a $40 billion economy, be home to an additional 240,000 people and will have created 100,000 more local jobs.

That’s the ambition of the Regional Economic Development Strategy 2020-41, unanimously endorsed by Councillors today and launched the same day at a corporate function.

Mayor Peter Flannery told attending business, political, and community leaders that this is a ‘crossroads moment’ for the region.

“Since the outbreak of coronavirus, nothing is business as usual, which is why we’re responding with a plan to transform our economy into a nimble and resilient powerhouse and we’re already on the road to recovery,” he declared.

“Our surging population has underpinned the success of this region and made us one of the fastest growing areas in the country, so now we can afford to strategically and deliberately diversify our economy to unlock the jobs and opportunities of tomorrow.

“This is a blueprint for our region to evolve and adapt to the challenges of modern market pressures and a changing climate.

“I believe we must be single-minded about attracting new industries, advancing established businesses, increasing trade and investment, we must innovate, and we must be willing to take entrepreneurial risks.”

The Regional Economic Development Strategy 2020-41 outlines a plan to make Moreton Bay Region bigger, bolder and brighter.

  • Bigger: our region will become bigger, with our economy reaching $40 billion in 2041, more than double its current size.
  • Bolder: we act bolder, with the creation of 100,000 new jobs and 16,000 new businesses by 2041. We will focus on ensuring our residents have the necessary skills and knowledge to access these jobs.
  • Brighter: our region’s future will be brighter, by focusing on our growth and talent and making Moreton Bay one of the top 10 regional knowledge and innovation hubs in Australia.

The strategy was developed collaboratively with contributions from local businesses, chambers of commerce, business and industry associations and many other stakeholders. 

Redcliffe Peninsula Chamber of Commerce President Brad Flynn congratulated Council on producing a first-class action plan.

“They have proactively engaged and collaborated with all stakeholders in producing this ambitious yet realistic strategy,” he said.

“The Redcliffe Peninsula Chamber of Commerce congratulates the MBRC on this exceptional process and is excited to continue working closely in the delivery of the REDS"

Domino’s Pizza CEO Don Meij, whose company started in Moreton Bay, said the region’s forecast and potential growth was an opportunity to seize.

“When you think about so many other communities, this is one that's just a rocket ship at the moment so why not lean in and grab a hold of that opportunity,” he said.

“This is one of Australia's fastest growing regions and it’s going to be bigger than Tasmania by 2041.”

BPW Caboolture club president Gail Hudson said she hoped the REDS would be transformative.

“For over thirty years BPW Caboolture has been supporting and advocating local business and working women and looks forward to the next chapter where our council through REDS is actively pursuing economic development and opportunity for all,” she said.

“We have already been to a few information events and have been working closely with Council to see where we can assist each other.”

The Moreton Bay Regional Council area is one of the largest and fastest growing local government areas in Australia, with a population of approximately 470,000 that’s projected to grow more than 50 per cent to 690,000 people by 2041.

Mayor Flannery said the region still has plenty of room to grow and that the smart money will recognise the opportunities here.

“Everyone already knows that our unique combination of affordable housing, employment opportunities, natural environment and Council’s investment in essential infrastructure make this the perfect place to live, work and play,” he said.

“What we need investors to understand is our ease of access to markets; like our proximity to the Brisbane CBD, port and airport and the fact that our transport network provides access to one of the largest workforces in the country, with more than one million workers just a 30-minute drive from our region.

“Then of course there’s the sleeping giant that’s about to awaken, The Mill at Moreton Bay, which is expected to deliver 8,600 ongoing jobs and add $813 million into the regional economy per year on average (once fully realised).

“This 460-hectare site holds untold potential as the largest greenfield innovation precinct in Australia with a developable space twice the size of the Brisbane CBD.

“On behalf of MBRC I want to thank the 300 businesses that engaged with Council and contributed to the REDS strategy.

“There has never been a better time to borrow or build, to create jobs and to strengthen our economy.

“So don’t be left on the bench, this is your opportunity to join #teammoretonbay as we embark on the journey to make our region bigger, bolder, brighter.”

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