DETAILED findings have revealed billions of dollars are expected to be invested into projects set to boost the Toowoomba region’s economy.
More than $18 billion of investment has been forecasted, in a report released by the Toowoomba and Surat Basin Enterprise (TSBE).
The amount reflected in the document titled The Toowoomba Development Status Report, was determined after the review of underway, pending and approved development projects for the region.
In comparison to the 2020 report, these findings indicate an increase of $5.7 billion.
TSBE chief executive officer Ali Davenport said the MacIntyre Wind Farm was among the large-scale projects.
“Renewable energy continues to contribute to the large pipeline of projects, such as the $2 billion MacIntyre Wind Farm, the proposed Pumped Hydro project ($980 million) and the Bulli Creek Solar Farm ($1 billion),” she said.
“The combination of Inland Rail, the booming agricultural sector, the growing health industry, the sheer number of jobs in resources and renewable projects along with our strength in education and manufacturing shows that investment in this region is booming.” Ms Davenport said although the pipeline was dependant on state and federal government funding, the purpose of the report was to encourage more investment.
Toowoomba Regional Council Mayor Paul Antonio said over the past 10 years, the region’s economic growth had exceeded the state’s average.
“A surge in activity has broadened the economic base to include manufacturing, along with the growing transport, logistics and information communication sectors,” he said. “With Toowoomba’s internationally capable Toowoomba Wellcamp Airport fully operational, the Toowoomba Bypass complete and the Melbourne to Brisbane Inland Rail project underway, the region is not only competitive, but emerging as the transport and logistics hub of choice for producers, growers and exporters.”