Wednesday, 10 April 2013

QLD Sunshine Coast Targeted incentives to encourage growth and investment in high value development


QLD Sunshine Coast Targeted incentives to encourage growth and investment in high value development
Build and Benefit unlocks investment and jobs

  (Sourced from Sunshine Coast Regional Council media releases and Nifty)

Build and Benefit unlocks investment and jobs
09 Apr 13

Tens of millions of dollars in development could be unlocked by a new initiative to encourage investment on the Sunshine Coast.
Mayor Mark Jamieson said Council wants to get development approvals off the shelves and out of the ground.
“The Build and Benefit initiative is about stimulating the economy, improving our competitiveness and boosting the construction industry,” Mayor Jamieson said.
"It’s designed to increase investment, get building projects underway and create jobs.”
"The initiative  offers up to a 50% “reduction” on Council infrastructure charges for targeted developments built to a deadline – and the ‘build and benefit’ incentives extend to older approvals.
"There are hundreds of developments approved by Council worth many millions of dollars which are lying idle - these incentives will help to unlock a significant part of that potential.”
“Developers are being given a great opportunity here – if they build it, they will benefit – and so will the region.”
“The initiative joins the development application fee reductions and Council’s existing Investment Incentive Scheme as a package of measures to encourage investment on the Sunshine Coast.
“This suite of offers will encourage appropriate development and create the right conditions to generate jobs.”
“In difficult economic conditions, regions need to be competitive if they want to be on the radar for new investment and if they want approved development to happen quickly.”
“If we don’t have a strong economy then we have little chance of retaining the lifestyle and environment that we value so highly here on the Coast”.
“Importantly, the developments that should be kick-started by this initiative should lead to a wider mix of employment opportunities in this region.”
“This means more of our young people will be able to remain on the Coast to get a job and pursue a worthwhile career”.

Council’s Build and Benefit initiative delivers a natural advantage to doing business in the Sunshine Coast and includes:

1. Targeted incentives to encourage growth and investment in high value development sectors and promote long-term jobs.
Categories include; industry and high impact industry, commercial office, indoor sport and recreation facility, education facility, essential services, accommodation (short term), specialised use (tourist attraction).
a) 50% reduction in Council infrastructure charges for developments which commence on or after 1 July 2013 and where construction is completed by 30 June 2014
b) 37.5% reduction in Council infrastructure charges for developments which commence on or after 1 July 2013 and where construction is completed by 31 December 2014
c) 25% reduction in Council infrastructure charges for developments which commence on or after 1 July 2013 and where construction is completed by 30 June 2015
2. 'Build and Benefit' incentives; Council will reduce infrastructure charges for three types of development approvals  provided developments are  completed before 30 June 2015.
For full details of the initiative and whether or not your development is eligible, please go to Council’s website.
Council's network charges include;
  • transport (roads, bikeways, paths),
  • public parks and land for community facilities, and
  • stormwater