Brisbane’s business community is getting back to business following the recent floods. Most of the city’s major businesses have already resumed operations and Brisbane should expect to see economic growth through rebuilding as a result of the floods.
Brisbane’s Lord Mayor Campbell Newman acknowledged that there has never been a more important time to assure business and industry that Brisbane is back in business.
“An active business and industry sector is an extremely important part of the rebuilding process of the city,” Cr Newman said.
“Despite the challenge of the recent flood, Brisbane remains an economic powerhouse and we will work with all levels of government and business to ensure the city’s speedy economic recovery.
“Council actually expects to see stimulus in Brisbane’s economy, particularly in the construction and building sector as the rebuilding continues,” he said.
“We need to work together to ensure that other sectors continue to prosper and ensure that Brisbane remains a significant contributor to the economy.”
According to industry forecasters, IBISWorld, while the floods are expected to have a negative short-term effect on economic growth as a result of temporary suspension and interruption to business, from April 2011 onward, the floods will provide a boost to economic growth through rebuilding, which is expected to last until 2012-13 and total $10 billion.
