Figures reveal surge of business activity off the back of new city centre
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The Sunshine Coast has seen a 35 per cent increase in companies employing more than 20 workers since 2019, overtaking major hubs such as the Gold Coast, Geelong and Newcastle regions.
That’s according to Australian Bureau of Statistics data released last month, which has revealed a surge of new businesses opening on the Coast, fuelled by major infrastructure investments and the Maroochydore city centre.
The figures from the ABS Economy and Industry Report also show local businesses with annual turnovers of more than $10 million have increased by 38 per cent in the same time, reinforcing the region’s transition into an economic powerhouse.
It comes as Sunshine Coast Council mayor Rosanna Natoli and Walker Group executive of development Peter Saba prepare to join the Property Council of Australia to discuss how the Maroochydore city centre is propelling the Coast’s economic growth at the Transforming the Sunshine Coast event on Thursday, June 13.
The newly reconfigured Maroochydore city centre masterplan, adopted earlier this year, responds to the region’s rapid growth to create more opportunities for local families to live, work, study and socialise on their doorstep.
About 10,000 residents will eventually call Maroochydore city centre home, with 25,000 workers commuting to the CBD daily.
The new Maroochydore city centre is being delivered as a partnership between Sunshine Coast Council, Walker Corporation and SunCentral Maroochydore.
Walker managing director and chief executive officer David Gallant said the new city centre had 23,000sqm of commercial space currently under construction, bringing the total delivered so far in the Priority Development Area close to 40,000sqm.
“This new ABS data confirms Lang Walker’s strategy when he outlined his vision for the Maroochydore city centre with an unlimited opportunity for businesses and government to expand against a coastal backdrop offering an unrivalled lifestyle for their workforce,” Mr Gallant said.
SunCentral Maroochydore chief executive officer Amanda Yeates said the Coast had become a magnet for talent and innovation.
“We are welcoming an increase in skilled professionals from across Australia who are drawn to the lifestyle, strong community fabric and strategic location,” Ms Yeates said.
“Great healthcare is the cornerstone of the best communities and we are proud to contribute to Maroochydore city centre’s recognition as a leading health precinct in Australia,” Barwon Investment Partners director Tom Patrick said.
Targeting completion in late 2025, the Maroochy Private Hospital will bring an influx of skilled health professionals and students together in a research and innovation hub with the University of the Sunshine Coast and Medacta, a leading international orthopaedic company.
Cr Natoli praised the council’s decision to develop the new CBD.
“Maroochydore city centre is a beacon of commercial confidence in our region, helping to attract more businesses than ever to the Sunshine Coast and create thousands of diverse local jobs for our community and future generations,” she said.
