Queensland Premier Anna Bligh will front an investment roadshow in Sydney and Melbourne this week to promote incentive scheme for companies to relocate to the state.
Accompanied by Queensland Treasurer Andrew Fraser, Bligh will make a keynote presentation at a function in Sydney on Tuesday, hosted by Trade and Investment Queensland.
The Committee for Economic Development of Australia will host a similar presentation in Melbourne on Wednesday.
Bligh has indicated she will use the roadshow to promote the fact that Queensland is “back in business” following the spate of natural disasters that swept through the state earlier this year.
The purpose of the trip is to convince companies to relocate to Queensland, with the Queensland Investment Incentive Scheme forming an integral part of the Government’s sales pitch.
The QIIS offers tax breaks and cash incentives to companies who relocate to Queensland.
A spokesperson from the Department of Employment, Economic Development and Innovation says the incentives are offered on a discretionary basis to new investment projects in the state.
“The value of QIIS financial incentive packages vary, based mainly on the size and strategic nature of the project, and the project’s net economic benefit to Queensland,” the spokesperson says.
“All applications are subject to comprehensive commercial and economic analysis. An incentive package may be the combination of a range of tax refunds and rebates, and the establishment of relocation cash grants.”
TIQ works with companies looking to relocate, expand or develop their business in Queensland by providing a range of services, including facilitating introductions with local companies and service providers, and arranging site visits.
The Government will also be talking up its Queensland Building Boost, which will provide $10,000 grants to those buying or building a new home in Queensland valued under $600,000.
“We make no bones about it – this is a brazen effort to aggressively pursue investment and job opportunities for Queensland,” Bligh said in a statement.
The impact of the natural disasters contributed to Queensland recording no economic growth last year – its worst figures since the economy contracted in the early 1980s.
However, private sector investment of 27% – driven largely by the strength of the state’s resources sector – is expected to boost growth to 5% in 2011-12.
While interstate migration to Queensland has dropped off in the past few years, Fraser is confident it will increase again as workers head north for lucrative mining jobs.
“Businesses should think about their expansion plans in Queensland because we certainly expect to be a magnet for skilled labour over the next few years,” Fraser said in a statement.
According to Fraser, the investor roadshow will help to promote Queensland as an attractive place to do business, both geographically and economically.
“We are the perfect pivot between South America and the Asia Pacific. These are two regions that will define the 21st century,” Fraser said.
“It is critical that… businesses based in Sydney and Melbourne understand the opportunities that Queensland offers.”
“We will hold one-on-one meetings with a range of potential investors… We’ll certainly be saying ‘the door is open’ and we don’t be shy about our intentions.”
“We are set to sell ideas, cleaner energy, food security, bio medical solutions, international education and a great holiday destination. It’s a pretty good recipe globally right now.”