2 projects that will boost jobs in Queensland
Being on the ball with Queensland investment property means knowing which areas are growing and why. Anything from new infrastructure projects to more tourist attractions can have an impact on a region's economic growth and population.
Fortunately, Queensland is one state in Australia that sees a high amount of development. Here are two up-and-coming projects you should keep an eye on.
Bus and Train tunnel (BaT), Brisbane
Yet to be approved, this is one project that will bring many jobs to the Brisbane area. This 5.4 kilometre tunnel will provide a gateway for both trains and buses to travel beneath the Brisbane River and Brisbane CBD. Starting at Dutton Park, the tunnel will run through to Spring Hill with underground stations at Roma Street, George Street and Woolloongabba.
Currently in the consultation phase, this $5 billion project will improve Brisbane's public transport significantly, while injecting many benefits into the local economy.
"It will double the capacity of the rail and bus networks, take pressure off existing infrastructure and make way for future growth," Lord Mayor Graham Quirk explained.
But it's not just a better transport network this link will provide. Approximately 1,600 jobs will be supplied while it's under construction, with more expected once the tunnel is in operation.
Gateway to the north
The first load of soil and rock has been moved for the Gateway Upgrade North project. Spanning from Nudgee to Nundah Creek, this billion dollar upgrade will widen the highway and provide extra lanes for drivers.
Over 75,000 motorists travel on this section of the road each day, and with a need to improve the highway, this project is the answer to boosting livability in this part of Brisbane.
Once work is done, the new and improved road will make the commute around this part of Brisbane much easier for motorists by reducing congestion. It will also leave more room for future growth in traffic over coming years.
Construction of the major works will commence mid-2015, which will help bring in jobs for many road workers in coming months. The timeline for the Gateway Upgrade North project predicts a finish date in late 2018, showing just how extensive these upgrades will be.
For anyone wanting to invest in property hotspots to grow their wealth, it pays to keep an eye on areas that see a lot of development. By speaking with a wealth coaching expert and obtaining property education, you'll soon be well prepared for future wealth creation.