Pri­vate sec­tor re­cov­ers from fi­nan­cial cri­sis

Townsville Bulletin - - Inside Today - From page 1

Re­leas­ing the re­port yes­ter­day, Townsville En­ter­prise chief ex­ec­u­tive Trevor Gold­stone said it showed there was sub­stan­tial re­cov­ery hap­pen­ing in the pri­vate sec­tor fol­low­ing the global fi­nan­cial cri­sis.

‘‘Gov­ern­ment stim­u­lus spend­ing has worked through the econ­omy, leav­ing fur­ther ac­tiv­ity up to the pri­vate sec­tor and the re­port shows that con­fi­dence within the sec­tor is lift­ing,’’ he said.

‘‘ The fig­ures tell us not only that projects worth $ 10 bil­lion are un­der way, but also that oth­ers worth be­tween $ 5 bil­lion and $ 6 bil­lion are await­ing start and a pipe­line of projects worth $ 15 bil­lion is await­ing ap­proval,’’ he said. ‘‘ Cy­clone Yasi, while it has caused sub­stan­tial dam­age, will in­crease the in­vest­ment through the re­build­ing work it has en­gen­dered.’’

Mr Gold­stone said the re­port also in­di­cated North Queens­land was win­ning its fair share of com­mer­cial de­vel­op­ment.

Ross Con­tarino, TEL’s gen­eral man­ager eco­nomic de­vel­op­ment, said min­ing and in­fra­struc­ture projects would bol­ster the city’s econ­omy, which would help meet de­mand for ma­te­ri­als, equip­ment and ser­vices.

How­ever, he said, de­mand for skills was an is­sue that needed to be ad­dressed.

Mr Con­tarino said while the re­gion had a strong lineup of projects, it would battle to re­tain its skilled work­ers given the num­ber of ma­jor projects planned else­where.

Strong de­mand would come from Glad­stone where ma­jor liq­ue­fied nat­u­ral gas projects were planned, and f rom West­ern Aus­tralia where ma­jor re­sources in­dus­try projects were es­ti­mated to re­quire up to half a mil­lion skilled work­ers.

‘‘ There can be no doubt de­vel­op­ments else­where will im­pact on our skills base,’’ Mr Con­tarino said.

‘‘ We are work­ing with gov­ern­ment agen­cies and we need in­fra­struc­ture in place if Townsville is to re­alise its role as Queens­land’s sec­ond cap­i­tal.’’

Newspapers in English

Newspapers from Australia

© PressReader. All rights reserved.