STATE LEADS THE WAY IN BUSINESS INVESTMENT

STATE LEADS THE WAY IN BUSINESS INVESTMENT

THE Sunshine State has recorded the highest levels of investment across the nation according to a new study.

The Deloitte Access Economics December Investment Monitor report shows there are $96.1 billion of projects underway in Queensland. Broader investment projects in Queensland reached an historic high of $187.9 billion, up $4.1 billion on the previous quarter.

Deputy Premier Andrew Fraser perceives the results as proof that investment in Queensland is ‘booming’.

"As we outlined in the mid-year review, business investment in Queensland is expected to rise by around 35 per cent in 2011-12, stronger than the 27.75 per cent growth forecast at Budget time," says Fraser.

"On top of the news that we'll be delivering a budget surplus one year earlier than previously predicted … (the) report shows that the Queensland economy does have a lot to look forward to."

The report also suggests Queensland and Western Australia continue to dominate the project investment landscape, with WA recording the second highest value of projects at $89.5 billion.
"New South Wales and Victoria expect to grow by just over 2 per cent, while Queensland and WA are both in the '4 per cent-plus' club," says Fraser.

"Because of this heavy-lifting, Australia is regarded as a stand-out performer on the international stage in the face of the fallout from the European (debt) crisis.”

Enjoyed this article?

Don't miss out on the knowledge and insights to be gained from our daily news and features.

Subscribe today to unlock unlimited access to in-depth business coverage, expert analysis, and exclusive content across all devices.

Support independent journalism and stay informed with stories that matter to you.

Subscribe now and get 50% off your first year!

Four time-saving tips for automating your investment portfolio
Partner Content
In today's fast-paced investment landscape, time is a valuable commodity. Fortunately, w...
Etoro
Advertisement

Related Stories

Fashion retailer Accent Group to cut Glue Store location count in half

Fashion retailer Accent Group to cut Glue Store location count in half

The ASX-listed fashion retailer responsible for such brands as Plat...

Domino's to shutter 100 stores after crusty results

Domino's to shutter 100 stores after crusty results

The board of Domino's Pizza Enterprises (ASX: DMP) waited until...

Accolade Wines owner buys French giant Pernod Ricard’s global wine assets

Accolade Wines owner buys French giant Pernod Ricard’s global wine assets

Australian Wine Holdco, a consortium that owns the country’s ...

Aussie boxing franchise UBX to enter United Arab Emirates

Aussie boxing franchise UBX to enter United Arab Emirates

Brisbane-based boxing franchise UBX has announced its eighth intern...