After mining and health, the largest contribution to the Queensland economy in 2018-19 was from the construction industry, accounting for $26.3 billion (or 7.9%). The construction sector is also the state’s third-largest employer, employing 236,000 workers in 2018-19.1
Queensland offers a range of investment opportunities across multiple infrastructure sectors.
Queensland Government support
The Queensland Government is committed to robust infrastructure development throughout the state.
In the 2019-20 budget papers, the Queensland Government committed $49.5 billion in infrastructure and capital works funding over four years. Funding for 2019-20 will support 40,500 jobs and includes:
- capital expenditure of $5.625 billion for transport;
- $2.18 billion for the energy and water sector;
- $777.7 million across the health portfolio; and
- and $479.2 million for the education portfolio.2
As part of this infrastructure funding, connecting both northern and southern rail networks, the A$5.2 billion Cross River Rail project involves a 10.2km link from Dutton Park to Bowen Hills, with 5.9km of tunnel under the Brisbane River and CBD. Construction is estimated to be completed in 2024.3
More information about the project is available here.
Getting started
TIQ helps investors and trade partners harness opportunities by opening doors to Queensland industry, economic development organisations, and local and state government agencies.
To explore opportunities to invest in our development and infrastructure projects, contact us today.
References
1Queensland Government Statistician’s Office, July 2020, ‘Labour and employment’, https://www.qgso.qld.gov.au/statistics/theme/economy/labour-employment/state, accessed July 2020.
2Queensland Government Queensland Treasury, 2019, ‘Queensland Budget 2019-20 Capital Statement Budget Paper No.3’, https://budget.qld.gov.au/files/BP3.pdf, accessed July 2020.
3Queensland Government Cross River Rail, Apr 2019, ‘Major contractors announced to build Cross River Rail’, https://crossriverrail.qld.gov.au/news/major-contractors-announced-to-build-cross-river-rail/, accessed July 2020.