Research findings and assessment framework for categorising projects and realising the economic benefit to be discussed
The Sunshine Coast Business Council (SCBC) will host a conference where a newly created framework to categorise projects of regional significance will be presented.
The conference will feature Dr Steven Boyd, Program Co-ordinator of the Bachelor of Property Economics & Development, University of the Sunshine Coast, as he presents findings from research into how significant public and private projects are assessed, communicated to the community and what approaches are followed to understand and share the economic gains.
Sunshine Coast Business Council Chair Sandy Zubrinich said the Business Council was interested in the ripple effect to the regional economy from the nearly $2b investment in the Sunshine Coast Health Precinct, as well as the other major projects identified in the Regional Economic Development Strategy (REDS).
“It is difficult to monitor the economic value to the region from these types of major projects, either individually or as a portfolio of projects, due in part to the inconsistent categorisation of projects between the tiers of government and the private sector, and the inconsistent terms and often confusing narrative used to communicate the economic benefits to the community,” Ms Zubrinich said.
"It is critical that the community understands the strategic purpose of major projects, especially those identified in long term regional strategies, and how each project and the portfolio of projects worked together to deliver a regional vision.”
“I congratulate Dr Boyd on his work and his thought-provoking contribution to what may be new thinking on categorising projects and making it easier to understand the economic benefits at a regional level from investments.”
The framework has been developed from research commissioned by the Sunshine Coast Business Council together with Regional Development (RDA) Sunshine Coast Inc, Sunshine Coast Airport and Property Council of Australia and we hope it will provide assistance and steer decisions on future developments in this and other regions.
Commencing the research project in March 2018, Dr Steven Boyd said that the two deliverable components resulting from the project would enable the categorisation, measurement and delivery of projects significant to the Sunshine Coast region such as the Sunshine Coast Airport, Maroochydore CBD, Aura and the new submarine cable project.
“I’m thankful for the participation and support from representatives of the Australian and Queensland governments, council and private sector stakeholders,” Dr Boyd said.
“The research is currently under peer review and I look forward to sharing the findings at the conference on the 23rd October,” he said.
He also thanked the panel of industry experts including Michael Aikman, Mike Reynolds and Adam Boersma and Andrew Powell MP as Shadow Minister for State Development, Manufacturing, Infrastructure and Planning who will offer their opinions on the findings and how the research may practically benefit public and private sector decision making and encourage community discussion.
Enabling projects of regional significance will be held at the Maroochy RSL from 1.45pm on Tuesday, 23 October.
Early bird tickets are available until 13 October, with bookings closing on Friday 19 October.
For more information, please visit www.scbusinesscouncil.com.au