Year one for Moreton Bay $40b economic transformation

Published 03 February 2022

Launch of REDS

Moreton Bay Regional Council’s plans to turn the region into a $40 billion economic powerhouse has reached its first milestone, celebrating year one with more than 1,000 new local businesses.

Mayor Peter Flannery said since the launch 12 months ago of Moreton Bay’s ambitious Regional Economic Development Strategy, the region had hit the ground running with the results speaking for themselves.

“Thanks to a close collaboration between council and industry, we’ve already checked off 90 per cent of our action items and consumer spending has grown to $7.3 billion in just one year,” Mayor Flannery said.

“That means thousands of new jobs for families in Moreton Bay and money being injected directly into local businesses.

“It puts us well on the way to creating 100,000 new jobs, a $40 billion economy and 16,000 news businesses in the next 20 years.

Mayor Flannery said not wasting any time, council and a business-led regional economic leadership taskforce had already delivered a number of initiatives despite the challenges of COVID-19.

“We rolled out an extensive program to back our businesses through the pandemic, and launched a national campaign to reach millions of Aussies and promote investment in the region.

“As a council, we engaged more than 8,700 local suppliers and our crack economic development team helped 138 businesses take the important next step in expanding their operations.

“We joined business-driven initiatives like becoming a Small Business Friendly Council, as well as networks for advanced manufacturing and agribusiness.

“The success of local business was recognised by winning 24 national and international awards, including an award for our own economic development strategy.

Mayor Flannery said successes so far had made industry and council hungry to achieve more for the region and local jobs, with the pedal to remain on the metal in 2022.

“As a council, we have continued our partnership with Moreton Bay Region Industry and Tourism to help drive our $1 billion tourism powerhouse, and develop more tourism and marketing campaigns, events and innovation.

“That’s on top of our record $743 million budget, which is helping to support businesses and jobs through COVID-19.

“And now, we’re seeing more opportunities for our region with 2032 Olympics locked in and major progress on The Mill at Moreton Bay.

“Quite frankly, Moreton Bay has never been in a better position economically with spending and business numbers growing and Council generating 86 investment leads with a potential investment of $1 billion plus and more than 3400 jobs, if fully realised.

“These first-year achievements alone highlight how we are harnessing our region’s competitive strengths to take advantage of key growth opportunities through our REDS.

“With industry and council working closely together, we truly are forging a bigger, bolder and brighter future for the Moreton Bay Region.”

For more information on the region’s economic development strategy, head to: