SEQ City Deal set to bring up to $58 billion for the region - Ironfish

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SEQ City Deal set to bring up to $58 billion for the region

A new City Deal has been announced for the South East Queensland (SEQ) region which could contribute up to $58 billion for the local economy.

The SEQ City Deal is a partnership between Federal, State and Local Government to align planning, investment and governance of the region to deliver better transport connectivity, more jobs and liveability to support the region’s population growth. Once negotiated, the SEQ City Deal will be the largest City Deal in Australia.

Modelling by KPMG has shown an SEQ City Deal could stimulate an increase of up to $58 billion by 2041 for the regional economy by improving its productivity and competitiveness.

One of the fastest growing regions

According to the Australian Government, SEQ is experiencing one of the highest rates of population growth in the country.

South East Queensland’s Population Growth

 


In March this year, Minister Tudge, Deputy Premier Trad and Lord Mayor Quirk agreed on governance arrangements for the deal negotiations and signed a Statement of Intent.

The Statement of Intent outlines a shared vision from all three levels of government for the SEQ Deal, centred on six priority areas: Connecting Infrastructure; Jobs and Skills; Liveability and Sustainability; Housing and Planning; Digital; and Governance and Leadership.

“South East Queensland is already home to over two thirds of the state’s population and is expected to accommodate 5.3 million people within 25 years’ time,” said Minister for Cities, Urban Infrastructure and Population, Alan Tudge.

“We need to cater for this rising population and the SEQ City Deal will be a huge step forward in making sure the people of South East Queensland get the most out of living in this beautiful region.”

south east queensland SEQ investment

Image source: Queensland Government

Some of the propositions for the SEQ City Deal, put forward to the Commonwealth Government by the Queensland Government and Council of Mayors (SEQ) include six ‘game changers’ for the region:

  1. Build on Cross River Rail and Brisbane Metro to move SEQ towards a 45-minute region by delivering the next wave of Rail and Metro projects to connect key activity and growth centres.
  2. Supercharge an SEQ Trade and Enterprise Spine between the Toowoomba Trade Gateway and the Australia TradeCoast by connecting Inland Rail to the Port of Brisbane and unlocking new jobs in the south-west and western growth areas.
  3. Ignite nationally significant Innovation Precincts to deliver more high-value, knowledge-intensive jobs through enabling-infrastructure and a culture of innovation and entrepreneurship.
  4. Establish SEQ as Australia’s leading Smart Digital Region by leveraging the new International Broadband Submarine Cable to deliver a Digital Trade Hub and taking a region-wide approach to data and digital connectivity.
  5. Deliver and secure better recreational spaces and landscapes for the growing region, including through a new tripartite Liveability Fund to co-invest in critical blue and green infrastructure.
  6. Deliver greater coordination and collaboration between federal, state and local governments, including a new tripartite Regional Coordination Board to support strategic governance for the region.

The next 12 – 18 months will involve negotiations between the three levels of government and community to finalise the SEQ City Deal.

Keen to invest in South East Queensland? Register to access our Ironfish recommended properties in SEQ.