The report, which analyses data from every local government area in Australia, ranks Moreton Bay’s economy as No. 1 in the state.
Moreton Bay is also ranked No. 14 out of the 67 regions in Australia.
Moreton Bay Region Mayor Allan Sutherland said the results reflected council’s commitment to driving sustainable growth for the Moreton Bay Region.
“As the State of the Regions Report shows, Moreton Bay has experienced strong economic growth over the past twelve months and the region continues to grow even stronger,” Mayor Sutherland said.
“We have excellent employment rates and reasonable housing affordability compared to other parts of the state – so more and more people are moving into the region; and the availability of land here means new commercial developments are springing up everywhere.”
“There’s evidence of forward momentum everywhere, and it’s attracted big international businesses such as Ikea and Costco.”
“The completion of the Moreton Bay Rail Link is going to drive growth even higher. Confidence in the Moreton Bay Region is at an all-time high.”
More than 12,300 jobs were created in the Moreton Bay Region in the last 12 months. The region also led the state in residential lot sales and was in the top two council areas for lot registrations.
Shane Newcombe, Chair of Regional Development Australia Moreton Bay and Managing Director of the newly established Moreton Bay Region Industry and Tourism (MBRIT), said he wasn’t surprised by the findings of the State of the Regions Report.
“This is great news for Moreton Bay, but hardly surprising. It is testimony to the collaborative partnerships, innovative business and regional development programs we have been able to put in place,” Mr Newcombe said.
“The report confirms what we have known for some time – that the Moreton Bay Region and its economy is one of the fastest growing in Australia, driven by significant population growth.”
“RDA Moreton Bay will continue to focus on economic development in partnership with council and MBRIT, to promote new and existing business and tourism growth, and to create more jobs for the residents of the region.”
The Moreton Bay Region is on track to achieve strong economic growth again this year, with major commercial and infrastructure developments creating thousands of jobs across a number of sectors, including construction, retail and tourism.