Economic report card highlights value of effort in City of Moreton Bay
Published 21 December 2023
City of Moreton Bay recently released the Interim Action Plan Report Card 2023 showcasing the results of activities of the Regional Economic Development Strategy (REDS), guiding the area to a bigger, bolder, brighter economy.
An estimated $700 million in additional Gross Regional Product, 4,193 new jobs, and 857 new businesses have been added to City of Moreton Bay in 2023, propelling it ever closer to the goal of a $40 billion economy by 2041.
The report card also revealed the significant economic boost for local businesses generated by 18 sponsored major events, contributing to 98,776 visitor nights and $18.3 million in visitor spending to the local economy.
City of Moreton Bay Mayor Peter Flannery said the report card results clearly demonstrated the ripe opportunities and investor confidence in the local area.
“Investment attraction is a key focus for City of Moreton Bay, and this year we attracted 156 investment leads, resulting in three secured major investments that will contribute $189 million in capex and 615 jobs, including 179 ongoing jobs contributing to the local economy,” he said.
This year, Mayor Peter Flannery joined local businesses to promote the opportunities directly to interstate and international investors with a trade mission to the Australasian Hotel Industry Conference and Exhibition in Adelaide and visits to Sydney, New Zealand, USA and Canada to explore new business leads and encourage international investment back into Moreton Bay.
City of Moreton Bay was also on show at Australian Manufacturing Week in Melbourne in May, where a contingent of innovative local businesses took their success stories and promoted the city’s record economic and population growth, unrivalled connectivity, supportive business conditions, and outlook for a prosperous future.
For more information about the Interim Action Plan Report Card visit: www.moretonbay.qld.gov.au/Services/Business-Investment/REDS