Coast cable deal to deliver more than 800 jobs, $927 million
AN UNDERSEA broadband cable connecting the Coast to the rest of the world is expected to deliver 864 new jobs and bring $927 million in to the economy.
Sunshine Coast Business Council Chair Sandy Zubrinich said last week's announcement confirming the Coast's connection to an international submarine broadband cable was exciting news for the local economy.
The new contract has been agreed between the Sunshine Coast Council and RTI Connectivity Pty Ltd (RTI-C) and would see the installation of 550km undersea cable to hook up to the already existing Japan-Guam line.
Ms Zubrinich congratulated council for securing such a significant piece of infrastructure for the region.
"This not only immensely improves our international connectivity but the estimated $927m injection of new investment into our economy should have a significant impact on our local business environment," Ms Zubrinich said.
"This project is not only expected to deliver up to 864 new jobs within the region, it also makes the Sunshine Coast an even more appealing destination for businesses who rely on high speed internet, given the direct access it provides to international markets in Asia and the United States."
Ms Zubrinich said the international submarine broadband cable, which was due to be connected by 2020, would be attractive to a host of national and multi-national organisations.
"It will open the door for a range of businesses which may never have considered the Sunshine Coast as a location for their head office or call centre," she said.
"With potential internet speeds 1.8m times faster than we currently have, we now have the ability to attract data-driven organisations considering a move out of expensive metro areas."
Ms Zubrinich said the investment would be the Coast on the business map of the world.
"The combination of our incredible lifestyle and this state-of-the-art technology can not be underestimated and I commend the Sunshine Coast Council and Queensland Government for taking the initiative to secure this deal.
"In short, it will help drive significant business growth in the region."