The North needs to get ready for growth

THE population of North Queensland is expected to grow to 340,000 people – a 40 per cent increase – over the next 25 years.

The growth will provide Townsville with terrific opportunity but will also pose significant challenges in terms of infrastructure, employment, housing supply and productivity.

Boosting Townsville’s competitiveness will be the only answer to ensure that the city’s economic growth outstrips its population growth. The question is: “How?” The Property Council recently posed this question to leading global cities expert Professor Greg Clark.

Prof Clark’s Creating Great Australian Cities report, recently released by the Property Council, has examined the current performance of Australia’s cities and identified the key elements needed to increase global competitiveness.

While the report focuses on the major capital cities in Australia, the findings are just as relevant to Townsville.

The research has identified some key areas that should be a focus for aspirational Australian cities, including driving the innovation economy, developing better partnerships between private sector businesses and compelling public leadership.

Many of the tools that the report recommends, such as the City Deal model, are already being actively employed in Townsville.

This places Townsville at a significant advantage and it should be well positioned to leverage its expected population growth to supercharge economic growth.

With the right policy settings and a “pro- growth” agenda, Townsville’s industry and community leaders can position the city to become a competitive and compelling investment destination.

At our next Townsville lunch, on Friday, August 31, the Property Council will explore the research findings, the transformation of cities and what it all will mean for Townsville and the North Queensland region.