With the Greater Brisbane population projected to rise to 2.95 million by 2030, Brisbane is considered one of the country’s’ fastest Growing cities. In anticipation of this dramatic population increase, the city is set to experience a $15 billion infrastructure boom over the next few years. So where is the money going and what can you do to get a slice of the financial action?
The first substantial infrastructure project to begin preparing the city for the needs of its growing population is the proposed cross-river rail project. The Palaszczuk government has committed $5.4 billion to the project and expects it to support up to 7,700 jobs during its five-year construction period. Major contractors for the project were announced earlier this year but construction and sub-contractor roles are still opening up.
While the Cross River Rail project is advertising opportunities’ for businesses and qualified individuals, construction of the new Queens Wharf casino is expected to employ around 2000 people, with opportunities available for both business and individual’s in the form of construction, supply and even training opportunities in the construction and operational phases. So how can you align your business to ride the cities next big infrastructure boom?
- Keep an eye out for open tenders.
- Join your local Chamber or economic development group: These sorts of organisation’s will usually run sessions with big contract winners to give you some insight into what they want to see in tender applications.
- Make sure you know how to write a professional and well-supported application. If you don’t, employ someone who does.
- Seek support from your accountant; tender applications require a lot of financial information and you want to make sure you get it right.
If you aren’t ready to get your business involved in a project this size why not look at opportunities for individuals. The project websites for both the Cross River Rail and Queens Wharf Casino have all of the opportunities for individuals listed on their pages. These roles are not always advertised on standard job sites so it is important to check the project pages regularly.
If you don’t run a business and you aren’t looking for a new job, don’t worry the housing market may still hold opportunities for you to get on board with Brisbane’s big boom. An improving economy and the introduction of major infrastructure projects could mean long-term capital growth for the Brisbane property market.
For help preparing your financials for tender applications or for tailored assistance with your finances please contact your advisor or accountant.