SO ARE WE THERE YET?

THE $ 250 million Townsville stadium project offers low hanging fruit for businesses with the gumption to grab the opportunities on offer.

There are 32 open listings available at ICN Gateway as part of construction of the stadium with jobs ranging from masonry, security, hydraulic services and signage to carpentry projects.

The total number of work packages is expected to reach 80.

ICN brings together suppliers and project owners together on its extensive database.

The new stadium in Saunders St in Railway Estate will have a 25,000 seat capacity and will be purpose- built for NRL.

Construction of the project will be delivered by Watpac and the company has pledged that 80 per cent of the value of the project will be spent on local suppliers.

Also, more than 80 per cent of hours spent building the stadium will be done by locals.

The commitment is important because the development falls outside the Labor’s Government’s Buy Queensland procurement policy.

Under that policy a local supplier is a business in Australia or New Zealand within 125km of where goods or workers are needed.

It is to be hoped Watpac will follow the spirit of this policy if not the letter of the new law.

This is key because of the economic multiplier effect Townsville will likely receive from local businesses getting the job.

A Chinese company might, for example, be able to do the job 10 per cent cheaper.

But in this scenario the Townsville firm should still be preferred because they would hire local workers who would in turn spend their money locally.

This is the virtuous cycle of investing in the local economy.

All Townsville needs to capitalise are businesses and contractors with the resourcefulness to take advantage of the opportunity.