UPDATE, 9AM: Ipswich City Council has handed down its 2014-2015 Budget with an average rates rise of 4.4 per cent.
The $373 million Budget aims to focus on investing in the future and boosting job opportunities.
Mayor Paul Pisasale said actions taken in recent years had enabled a Budget surplus of $1.6 million in 2014-15.
Rate rise today, but-savings tomorrow: Council's bitter pill will be good for Ipswich's long-term health
6AM: Today's Ipswich Council budget announcement will bring with it pain for local ratepayers, but according to Mayor Paul Pisasale, it was a bitter budget pill we had to swallow.
Cr Pisasale has been around long enough to know that any increase in rates will result in strong resident backlash and he is bracing for the fight.
Although the exact dollar increase hasn't been released, it will be above what both Logan and Brisbane City Councils have delivered for 2014/15.
"There will be a small amount of pain in the next 12 months, but the major infrastructure work we will be carrying out needs to be done now and not at a much higher cost in the years to come," Cr Pisasale said.
One of the key projects in today's budget will be the multi-million dollar construction of Collingwood Dve stage two, which will provide a direct link from Collingwood Park to Redbank Plains.
Council is also planning a massive investment to improve local roads, drainage and bridges.
The Robelle Lagoon project at Springfield Central, which will mirror South Bank's water entertainment area, will soak up millions, but once again Cr Pisasale believes the investment will be far outweighed by the financial benefits to Ipswich.
While the Mayor will be under pressure when he releases the new budget pack this morning, he'll be in a much better mood at the end of his press conference when he announces that one of Australia's largest companies will soon be setting up a major base in the Redbank Motorway Estate.
The company was looking at three other sites in the Brisbane region before a personal presentation to their board by the Mayor swung them across to Ipswich.
More than 300 fulltime jobs will be created as a result of that decision.