Three reasons why market confidence returning to Gladstone

CONFIDENCE is returning after a difficult 12 months for the Gladstone region.

Local agents are expecting the market to remain steady for the remainder of 2015, with Gladstone returning to its usual port, industrial and rural activities that had been overshadowed by the LNG boom.

According to the RBA, investment in the resources sector is expected to continue to fall in the next two years.

With this in mind, the need to diversify Gladstone's local industries is even more important to ensure the region can re-enter the growth phase in coming years.

Gladstone City Council says the State Development Area is continuing to attract large industries to the region, while the retail and services sector is strengthening along with tourism and primary production, namely the beef and timber industries.

Regional update:

Oil refinery - proposed

$700million worth of investments is to be built within the Gladstone State Development Area near Targinie, 15km north-west of Gladstone.

The SDA was earmarked in 1993, given its proximity to a national highway, rail and sea.

Joint venture between US Eagle Ford Oil and Gas Corporation and Australian-based Caspar Energy.

Expected to be capable of producing about 45,000 barrels of highly refined products per day, including sulphur diesel and premium petroleum.

Studies currently under way and approvals said to be completed in 18 months time.

Estimated 1000 jobs during construction and 300 once completed.

Concerns have been raised about the risk of potential oil spills onto the Great Barrier Reef.
 

Port of Gladstone
 

In June this year, public consultation started on the proposed boundary for the Gladstone Port's master plan.

The master planning of the state's priority ports, such as Gladstone, is part of the Queensland Government's commitment to the Reef 2050 Long Term Sustainability Plan, to help manage the impact of port operations and development on adjacent land and marine areas.

The proposed master-planned area encompasses 88,000ha.

Full of Surprises tourism campaign

This campaign was launched in April by Gladstone Area Promotion and Development Limited.

Aimed at promoting the region as a great place to live, work, play and invest, it offers a range of nature-based tourism experiences.

It is set to feature on TV, billboards, print media, local radio, online and in Gladstone cinemas.



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