Why businesses are looking north

Advertorial for BEDAAustralia’s business landscape is changing.As organisations rethink where to invest and expand, population growth, major infrastructure projects, stronger Asia-Pacific connections and deepening industry capability are reshaping Australia’s investment landscape.Brisbane sits at the centre of that shift. The city’s economy is forecast to reach $275 billion by 2041, supported by a major infrastructure pipeline, expanding industry precincts and continued population growth.Brisbane’s growth momentum is attracting capital and reshaping Australia’s investment landscape.Brisbane Economic Development Agency (BEDA) works to connect business, research, industry and government, helping organisations identify opportunities and accelerate investment.Working across government, industry and research, BEDA helps organisations identify investment opportunities, build partnerships and navigate major projects in the city.Anthony Ryan, chief executive officer of BEDA, says Brisbane’s momentum reflects long-term economic and demographic trends rather than temporary market conditions.“Brisbane is moving through a sustained period of economic growth, maintaining an annual growth rate of 6 per cent, making it the fastest-growing capital economy in Australia,” says Ryan.“That momentum is being driven by pre-2032 Games investment, a growing working-age population and a thriving $17.8 billion visitor economy.“This momentum is also supported by our proximity to Asia, a rapidly expanding workforce, a $100 billion-plus major projects pipeline and critical infrastructure including the Port of Brisbane and Brisbane Airport.”That combination of market demand, infrastructure and industrial capability is already influencing major investment decisions.Alter Steel chief executive Paul Zuckerman says Brisbane emerged as the preferred location for the company’s new low-carbon steel mill after an extensive national search.“With so much building and construction work planned for greater Brisbane and Queensland, it just made sense to utilise the local circular economy,” Zuckerman says.“Brisbane already had the critical resources we needed, including processed scrap metal, energy, transport infrastructure and, importantly, access to a well-trained workforce.”BEDA knows that businesses are increasingly assessing more than just available land or office space when making investment decisions.Instead, they are looking at where skilled workers are available, how efficiently goods can move through supply chains and whether infrastructure will support long-term growth. Brisbane’s growing workforce, established logistics network and expanding industry precincts are helping provide that certainty.Brisbane’s life sciences sector offers a clear example.The city’s health and innovation precincts are helping translate research into commercial opportunities by bringing together universities, researchers, government and industry.John Ratcliffe, chief executive of Altea Investments, says Brisbane stands out because its innovation ecosystem operates as a connected network rather than a collection of separate institutions.“When evaluating markets, we look for places where the science and health infrastructure is concentrated and works together rather than where precincts are siloed or competing,” Ratcliffe says.Anthony Ryan, chief executive of Brisbane Economic Development Agency, left, and John Ratcliffe, chief executive of Altea Investments.“In Brisbane, all levels of government, industry and academia are pulling in the same direction.”Ratcliffe says talent remains one of the city’s strongest competitive advantages.BEDA acts as a facilitator of collaboration between business, research institutions and government, which is becoming increasingly important as Brisbane continues to grow.“This pipeline creates opportunities and challenges,” Ryan says.“It will take government and industry working together to understand the barriers and pull the right levers.”Ryan says cities that combine economic momentum, connectivity, industry capability and collaboration will be best placed to compete for investment over the coming decade.“Brisbane is fast emerging as one of Australia’s most compelling growth stories,” Ryan says.“From major infrastructure projects and a thriving innovation ecosystem to a growing talent pool and strong lifestyle appeal, Brisbane is attracting businesses, investment and new ideas at scale.“Brisbane has the people, the capital and the conviction to meet this moment.”To find out more, please visit Choose Brisbane.From our partners