Charters Towers Regional Council mayor Liz Schmidt said there are a number of significant developments for the Charters Towers economy likely in the near future from which the region could see improved growth outcomes.
“Charters Towers will need to increase its real economic output by 80 per cent over the next 20 years,” Cr Schmidt said.
“This level of growth will require major new investments, via expansion of existing business and from new industry,” she said.
“In order to realise the required investments, Charters Towers will need to be more proactive and investment ready in a more competitive investment environment.”
She said mining, agriculture, education and tourism are the current major contributors to the region that will remain key to the future of the region’s economy.
“As sectors of proven strength Charters Towers will retain focus on ensuring these sectors remain competitive and perform to their full potential for the region, and we’ll be also actively exploring opportunities for new industries and sectors.”
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Council is currently underway with the design and construction of a major water infrastructure upgrade project to be completed over the coming three years at a cost of more than $17m, which is being funded 50 per cent by the Department of Infrastructure and Regional Development under the National Stronger Regions Funding program.
Upgrades will include improvements to capacity of the FEJ Butcher Water Treatment in Charters Towers, reservoir improvements, weir intake upgrades and reticulation mains improvements.
“The Water Infrastructure Upgrade program will provide many benefits to the community, by increasing the reliability of the water supply, treatment and storage activities.
“As with many smaller communities, water infrastructure is ageing and improvements are essential to maintain a reliable and safe water supply.”
She said seven key themes have been developed to prioritise key regional projects.
The key themes are: To reinforce the region’s four pillar economy; develop greater two-way trade with the greater region; to become a benchmark country city; building a major service centre to rural North Queensland; to increase tourism; capture major infrastructure and industry investments and to shape an investment friendly reputation.
“Council continues to maintain its membership with various economic development groups operating in the region, including the wider North West region.
“It is through this membership Council will stay informed of the opportunities available for the region.”