Property

Caloundra South project to provide 39,000 jobs, report says

An artist's impression of the Caloundra South development.
An artist's impression of the Caloundra South development.

THE Sunshine Coast's Caloundra South development will generate almost 40,000 jobs by 2040 and inject $7.7 billion into the local region, a report says.

The Stockland Public Environment Report Summary of Major Findings numbers double the previously predicted total of jobs for the area.

The full report on the project to house 50,000 residents was released last week as a complex 1000-page document.

The summary highlights  the Sunshine Coast Council as a potential winner from the project, with $240 million in rates revenue forecast by 2040.

A $1.3 billion annual boost to the local economy and broader economies is predicted once the project is complete.

Key benefits to the area listed in the summary include the establishment of Up to 20 new educational facilities for all stages of learning, from pre-primary to tertiary and beyond.

"Economic benefit for the local and regional area would be achieved throughout the construction and operational phases of the development," the report states.

"Direct economic benefits would come from increased employment opportunities and direct financial expenditure, while indirect benefits would come through diversification of the region's employment profile, improved infrastructure and increased volume and diversity of housing  stock positively affecting housing affordability."

Take Action on Pumicestone Passage president Ken Mewburn said the full report was complex and represented considerable effort by the developer.

"I'm surprised to see the level of community input that has been considered and included," Mr Mewburn said.

"Caloundra South is a different project than it was two years ago."

Topics:  caloundra south development jobs jobs news stock



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