Rockhampton Regional Council through Advance Rockhampton has upped the ante when it comes to creating investment opportunities for new investors and for local businesses looking to expand. The new development incentive complements the other development incentives currently offered in targeted industries.
Last month, Council expanded the current Development Incentives Policy to include multiple residential unit developments in specific areas near the CBD (diagram attached). The policy also extends the current incentives policy for investment in tourism, health, resources, education, aged care and retirement investment sectors.
Rockhampton Region Acting Mayor Neil Fisher said these development incentives have played an important part in stimulating the Rockhampton Region’s economy over the past seven years.
“The purpose of the Development Incentives Policy is to attract investment and support projects that will deliver local jobs and promote economic growth in our community,” Acting Mayor Fisher said.
“Under the policy, Council will refund up to 75 per cent of infrastructure charges to any private development that meets our specific set of criteria, which includes significantly increasing local employment opportunities.
“Council has refined this policy for 2021 to include multiple residential dwellings in the area bounded by Victoria Parade and North, Alma and Fitzroy Streets in Rockhampton.
“We have seen strong growth in this precinct since 2013, mainly through the construction of multi-story residential complexes.”
Advance Rockhampton’s Executive Manager, Mr Greg Bowden, is excited to see this additional economic stimulus to drive further growth in the region.
“The policy will provide opportunities for current employers looking to expand operations and for new investors looking to invest in the region. And, best of all it will compliment Advance Rockhampton’s goal to create long term job growth in the region and across Central Queensland,” Mr Bowden said.
“By amending the policy to include multiple residential dwellings we are sending a message to investors and developers in this sector that Rockhampton Regional Council is committed to increasing liveability options and investment attraction to the region.
“We are really looking forward to welcoming applications from investors and developers in the residential unit sector and working with successful applicants to broaden the lifestyle choices in Rockhampton.”
The policy now includes incentives for new investment in:
- Multiple residential dwellings (in designated CBD zone)
- Medical health & community services
- Aged care and retirement
- Education and training
- Resource industry
- Destination tourism, and
- Farm stay accommodation.
The new policy will apply to development applications lodged with Council from 1 January 2021 to 31 December 2021.