Why the Sunshine Coast is a top choice for regional business investment.
There has been so much news lately about the ‘regional renaissance’ created by COVID-19.
Yet even before the drastic changes caused by COVID-19, Australians were leaving capital cities to find better housing, career and lifestyle opportunities. People are choosing to move to regional locales to find meaningful opportunity and a balanced lifestyle.
At the same time, businesses are acting to address the operational risks inherent in a centralised capital-city framework and more are considering regional investment.
By decentralising critical business functions including taking a ‘hub and spoke’ approach to business locations, organisations recognise that by having satellite offices and remote working staff, they can reduce risk and strengthen business continuity.
What’s in a boost of Vitamin SC?
- Affordable business locations
- A growing regional economy
- Sunshine Coast Broadband Cable superfast data speeds
- $12.5 billion in Sunshine Coast Infrastructure investment
- Supportive business networks
Hub and spoke business model
Under the ‘hub and spoke’ scenario, a business might retain a city office location, augment it with a regional satellite office, and/or allow staff to work from home several days a week.
Whilst historically regional hubs have acted as the second business location or support offices for city based HQs, big brands like Youi and Gourmet Garden have chosen to establish regional business headquarters on the Sunshine Coast.
Other well-known businesses such as Auto & General, Get Wines Direct and Office HQ have significant operations in the region.
These organisations benefit from a skilled and qualified workforce as well as a pipeline of future qualified workers, with more than 83,000 tertiary students studying at University of Sunshine Coast, two TAFE campuses and 100-plus registered training organisations.
Give your business a boost
The Sunshine Coast has the unique combination of attractive business conditions and all the lifestyle desirability any Australian would want.
Business benefits include:
- Commercial property is almost 50% lower than Brisbane CBD,
- Industrial land prices are 63-84% lower than east coast capital cities,
- Lowest average workers compensation premiums across Australia’s eastern states.
By locating your business on the Sunshine Coast, you’ll also pay the lowest basic flat payroll tax rate of any Australian state or territory. The current Queensland payroll tax rate is:
- 4.75% for employers or groups of employers who pay $6.5 million or less in Australian taxable wages.
- 4.95% for employers or groups of employers who pay more than $6.5 million in Australian taxable wages.
Major infrastructure development
The Sunshine Coast economy is one of Australia’s fastest growing regional economies and is expected to grow to $33 billion by 2033.
Significant infrastructure projects are equipping the region to support the growth of high value industries, including the development of Australia’s only greenfield CBD, the Maroochydore City Centre.
This 53-hectare development is master-planned to provide the ideal mix of residential, commercial, retail, civic and community uses; all set within 20 hectares of parkland, waterways and open spaces.
On the Sunshine Coast, innovation is a cornerstone of success for everyone, from government to business.
The Sunshine Coast region hosts a local Cyber Security Node that is connected to a network of national nodes that are developing and delivering a range of initiatives to increase our nation’s cyber security capability.
A new Regional Innovation Benchmark (RIB) research shows that the #SunshineCoast is leading the way in innovation, collaboration and entrepreneurship.
One of the great case studies featured in this report is discusses the collaboration between Sunshine Coast Council and telecommunications startup OneQode.
OneQode offers a digital services platform to ensure fast international connectivity and local last mile connections to residents and businesses. This service is the perfect partner to the Sunshine Coast submarine cable, which will provide the fastest east coast connection to Asia and bring high speed data to the region.
To realise the potential of the submarine cable, last mile connections are critical. This case study demonstrates that collaborations such as these will surely bring greater connectivity to our region and attract smart businesses with data-driven needs.
Supportive business networks
The Sunshine Coast business community is made up of welcoming and supportive business people.
Sunshine Coast Council has a team of investment specialists dedicated to helping businesses with free site selection assistance, relocation advice and introductions to government, industry and business networks.
The Sunshine Coast boasts affordable industrial and commercial business location and lower overhead costs.
A range of Sunshine Coast Council and state government incentives are also available – both financial and non-financial.
Incentives and support services offered as part of the Invest Sunshine Coast program include:
- Business case development support.
- Dedicated business facilitation services.
- Customised site selection assistance.
- Competitive development costs.
- Incentives and assistance to eligible applicants to enable projects to commence sooner and help offset expansion, establishment or relocation costs.