$15M Action Plan to boost Brisbane’s economic future

Lord Mayor Graham Quirk is committing $15.5 million in his 2015-16 Budget to implement key recommendations from the Brisbane 2022 New World City Action Plan.

Cr Quirk said the economic development plan would build on the 2011 Window of Opportunity Report and capitalise on the G20 Leaders Summit, to deliver lasting economic benefits for all Brisbane residents.

“Since we focused on Brisbane being Australia’s New World City in 2008 we have been able to develop those traits and assets our city requires to be appealing on a global level, and we now sit amongst a select group of 24 cities internationally that meet this criteria,” Cr Quirk said.

“The economic priorities in the Brisbane 2022 New World City Action Plan include driving job creation, guiding city-shaping, maintaining and improving quality of life, and assisting research and education expansion.

“Specifically, this plan identifies eight growth sectors with the potential to accelerate productivity and generate new jobs for residents, which are: knowledge based services, education, creative and digital, accommodation, energy and resources, agribusiness, advanced manufacturing and property.

“Our foreign investment strategy has already yielded $522 million in capital investment for our city and created 800 new jobs, but there are plenty of new opportunities we need to take hold of.

“The Window of Opportunity Report underpinned the city’s growth strategy beyond the resources boom and we want to continue to tackle emerging challenges and take advantage of every opportunity.

“I want to ensure Brisbane’s role as a major player in the Asia Pacific region continues to grow and we are recognised globally as a New World City full of opportunity that attracts and retains talent.”

Cr Quirk said funding through his Budget would allow Brisbane Marketing to continue work to secure new direct international flights from some of Brisbane’s most popular visitor countries, including China, Korea and the United States.

“We will continue to pursue opportunities to leverage additional flights and cruise ship opportunities, to encourage even more tourists to visit our New World City,” he said.

Cr Quirk said under this commitment in the 2015-16 Budget, Brisbane would also ramp up efforts to attract conventions as well as major sporting and entertainment events.

“We will continue to grow our major events calendar with a goal towards attracting one significant drawcard event per month to stimulate business and create local jobs,” Cr Quirk said.

“These events will include everything from the Brisbane International Tennis, Brisbane Racing Carnival and Brisbane Festival to Christmas in the City.

“Convention and event delegates spend on average $600 each day and over the past five years delegates have contributed $1.2 billion into Brisbane’s economy.”

Cr Quirk said international education which was Brisbane’s largest export and employed 20,000 people, would continue to be a focus of the 2015-16 Budget.

“Already Brisbane has 75,000 international students and we want to continue to grow this number and strengthen our international friendships with young people, who continue to contribute to our economy long after their study is completed,” Cr Quirk said.

“We will look to roll out several new programs, building on the success of the Study Brisbane strategy, with a priority on attracting and retaining students and talent from Brisbane, interstate and globally.

“We will be looking to introduce an international talent repatriation program alongside a global student internship program, next generation engagement program and a city education showcase program.”