Media Release
The Toowoomba and Surat Basin Enterprise (TSBE) released the 2022 Western Downs Development Status Report today which identifies $6.57 billion of investment in development projects across the renewable region.
This represents some of the strongest investment per capita in Australia, with investments in areas including agriculture, health, renewable energy projects, natural gas, and infrastructure and services.
TSBE CEO, Ali Davenport, said the report – which is compiled every 18 months – determines levels of investment in the region, provides an insight into the region’s upcoming major projects and confirms the confidence and economic opportunity that exists across the Western Downs to other potential investors.
“The Western Downs Development Status Report identifies more than 50 projects that are
underway or approved and it is very pleasing to see so many significant projects in the pipeline,” Ms Davenport said.
“These projects will continue to further stimulate the robust local economy, provide local businesses with necessary information to connect to new projects, and encourage further investment into the region.”
With the Western Downs dubbed as the Energy Capital of Queensland, it is no surprise that
investment continues to be attracted into this major energy hub. Phase one of the multi-billion dollar Surat Gas project by Arrow Energy is on track, and Senex Energy recently announced a further $1 billion investment into the region to provide gas for Australia’s growing energy demand. In addition, a major influx of renewable energy projects will generate more than $4.3 billion in the region.
The renewable energy projects in the Western Downs drew particular praise from Queensland Premier Annastacia Palaszczuk last week.
“Australia’s largest solar farm (situated in the Western Downs) has already delivered more than 450 construction jobs with more than 30% of workers from the local Western Downs region” Ms Palaszczuk said.
“The ongoing economic benefit is estimated to be around $32 million a year for the Queensland economy…our energy infrastructure is the greatest jobs opportunity in a generation.”
Agriculture continues to underpin the region’s economy, and a $28 million feedlot expansion at Greenswamp is just one project underway that indicates that trend will continue. More than 40% of national feedlot occupancy is located within a 200 kilometre radius of Dalby.
The continued growth across the Western Downs region will be supported by infrastructure and services investments currently in motion worth more than $36 million. Much of this spending will be on roads, but schools and community facilities will also benefit.
Western Downs Regional Council Mayor Paul McVeigh is rightly very proud of his thriving region, and said the Western Downs was open for business to all comers.
“In the Western Downs, it’s the ‘people’ that make it so successful, supported by collaborative and resourceful local supply chains,” Cr McVeigh said.
“No industry does it alone – investors here enjoy the benefits of a planning scheme which Is proactive and one of the best in the state.
“The future looks bright for the Western Downs with significant opportunities and major projects on the development horizon and billions worth of investment already in the pipeline.
“Our prime location, environmental conditions, and access to key transport networks all contribute to our ability to harness new investment and build economic growth.
“We’re excited about the future of the Western Downs and the opportunities that lie ahead.”
The Western Downs Development Status Report can be found on the TSBE website: https://www.tsbe.com.au/resources/western-downs-development-status-report-2022
