Why business is booming in Ipswich
IN FOUR months almost 1500 new Australian Business Numbers have been registered in Ipswich.
The district is growing at an unprecedented rate and massive investments in the city have given would-be small business owners the courage to take a chance, Ipswich Chamber of Commerce President Phillip Bell says.
The Australian Defence Force is undergoing as $1 billion expansion at the Amberley RAAF base and building several hundred homes to support the influx of workers.
Private developers are almost ready to unveil the new entertainment precinct at the former TAFE building on Limestone St and Ipswich City Council says it will start a $150 million redevelopment of the CBD in July.
Mr Bell said those investments, combined with the city's projected growth, were just some examples of why Ipswich was attracting new businesses.
"Smart money follows smart money," Mr Bell said.
"Business confidence is shown through those large investments and there are significant projects in the pipeline, such as the Toowoomba Second Range Crossing, that will create more opportunities for Ipswich businesses.
"That really drives long term confidence."
In 2014 there were 7833 businesses in Ipswich.
By 2015 that was up to 7946 and of those businesses 198 employed between 20 and 199 people.
Today there are 30,269 active registered ABNs in Ipswich and the areas Gross Regional Product is estimated at $7.89 billion, or 2.7% of the state's economic output.
When Jolie and Pete took over the café on Ellenborough and Rod Sts, formerly Smith Café now Ellen and Rod, they said commercial rental affordability had formed part of the attraction to Ipswich.
Mr Bell says while commercial affordability won't last forever, now was the right time for small business owners to secure tenancies.
"There is a level of excitement around the CBD redevelopment and this is a good time to get in," Mr Bell said.
"There are plenty of small business owners on the Gold Coast who didn't foresee the growth and wish now they'd got in earlier."