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Gold Coast investment program boosts local economy

A program designed to attract investment to the Gold Coast has resulted in a boost for the Queensland city’s economy to the tune of more than $100,000 day for the past two years.

According to figures released by the Gold Coast City Council’s Economic Development branch BusinessGC, the Investment Attraction Program has returned dividends equal to almost two new jobs and more than $105,000 a day to the local economy, making the region one of the fastest growing urban development areas in the world.

“A combination of lower costs, a highly-skilled local workforce, world-class infrastructure and a supportive business environment means the Gold Coast is garnering a global reputation as a hotspot for investment and business success,” said Councillor Susie Douglas, who is also the Gold Coast City Council Economic Development and Tourism chairperson.

The program, which had the aim of diversifying industries away from the Gold Coast strengths of tourism and construction, has directly resulted in the creation of 1,300 jobs and $77 million in direct capital expenditure. It targeted nine sectors: film, fashion and music, education, environment, food and beverage, health and medical, information communication technology, sport business and marine industries.

Douglas added that a further 200 direct jobs and $15 million in direct capital expenditure has come through major companies that have established or relocated to the Gold Coast.

Adeline Teoh

Adeline Teoh

Adeline Teoh is a journalist with more than a decade of publishing experience in the fields of business, education, travel, health, and project management. She has specialised in business since 2003.

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