The Sunshine Coast Regional Council budget sends a clear signal that the region is open for business, according to the Property Council of Australia.
The Mayor’s commitment to increase funding for economic development initiatives and reduce application fees for a variety of developments will encourage businesses to consider investing in the Sunshine Coast, Queensland Executive Director of the Property Council of Australia Kathy Mac Dermott says.
“The property industry accounts for 16% of employment on the Sunshine Coast, generating over $2.3 billion worth of local activity.”*
“The Mayor’s support for the property industry in terms of free pre-lodgement meetings and rebates on application fees where selected land uses are commenced within two years, will help stimulate much-needed activity in the sector,” Ms Mac Dermott says.
“We are pleased to see Mayor Jamieson following through on his election commitment to promote economic development in the region.”
Local Government budgets are watched closely by the property industry as council rates, fees and charges directly affect the bottom line of all property owners, investors and developers.
“While some fees and charges for the development industry will moderately increase in the year ahead, it is refreshing to see the Sunshine Coast Regional Council will reduce by 5% those charges associated with business, commercial and industrial uses.”
“In past years a number of local governments have used their minimum and differential rating capacity to dramatically increase the rates charged on business premises. This in effect means that commercial property owners are subsidizing residential rate payers.”
“The industry is pleased that Sunshine Coast Regional Council has kept commercial rate increases in line with those that will be experienced by residential property owners in this year’s budget.”
“The property industry on the Coast was hard hit by the GFC, and this assistance by the council will help the industry recover faster, building on the significant contribution it makes to the region.”
“In the context of economic development, it is important to recognize that local governments are competing for investment not only with each other, but with councils in other states.”
“This Budget makes it clear Council is willing to puts its money where its mouth is, through these positive steps to increase local competitiveness and promote investment in the region.”