Business confidence in CQ powers on following election

A POST-election business confidence jump in Central Queensland has seen the region surge into fifth place in a nationwide survey.

New Regional Australia Institute figures show that business confidence in the Fitzroy-Central West region was the fifth best of 55 regions in Australia.

Other economic fundamentals ranked the Fitzroy and Central West region 11th in Australia in wage and labour costs, with an average value of $50,015.

Capricorn Enterprise chief executive Mary Carroll said the shockingly positive news came on the back of challenging times in the mining and resources sector, which was a key economic contributor in CQ.

"The statistics reflect the business confidence our organisation saw from our business members, particularly after the Federal election," Ms Carroll said.

"The long, slow lead-up to the election affected business confidence, which was recorded across many sectors and surveys... it was quite noticeable, immediately after the Federal Election, the jump in business confidence in CQ."

According to information from the Regional Australia Institute, the vast potential of northern Australia was being held back by serious bottlenecks in infrastructure and human capital.

The report stated that Townsville, Cairns, Darwin, Mackay and Rockhampton were underpinned by a range of industries including mining, tourism and agriculture. Their size and economic diversity meant those cities were considered self-sustaining in their own right, and provided vital opportunity to towns situated nearby.

It was reported that northern Australia was made up of regions north of the Tropic of Capricorn line.

Topics:  business confidence capricorn enterprise regional australia institute

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