A new study identifies the infrastructure and property developments that will keep WA growing as the mining boom fades.
The Property Council of Australia’s Keep WA Growing report by Urbis demonstrates how $4.5 billion of infrastructure investment and $2.4 billion of unlocked property development would enable a further $27 billion of economic activity for WA, generating 32,500 new jobs.
The landmark study introduces a new framework to independently identify and prioritise major projects according to economic and community benefits.
The framework prioritised three major projects around Perth that would deliver the greatest benefit: MAX Light Rail, Western Trade Coast and the Peel Economic and Environmental Initiative.
“The property industry is perfectly positioned to pick up the growth baton from the resources sector and these projects are urgently needed to ensure WA continues to deliver prosperity, jobs and strong communities,” said the Property Council WA Executive Director Joe Lenzo.
“The absolutely right thing for WA to do now is plan for growth and invest in high performing infrastructure. The totally wrong thing is to withdraw from infrastructure investment for short-term Budget reasons.”
Urbis Chief Economist Nicki Hutley said, “The focus going forward needs to be on rational budgetary decisions which deliver maximum leverage from the more scare infrastructure capital. We are pleased to inform the debate and to promote a deeper understanding of those investment projects which will provide optimum outcomes for the WA community.”
