The Sunshine Coast is entering one of the most significant periods of economic opportunity in its history, with a more diverse and sophisticated economy, more than $20 billion in public and private investment in the pipeline and the Brisbane 2032 Olympic and Paralympic Games providing further impetus for growth.

These were among the key messages to emerge from the Sunshine Coast Business Council (SCBC) conference – The Economy, Catalytic Investment, What to Expect – which brought together more than 100 business and industry leaders to examine what has driven the region’s economic transformation over the past 15 years and how to maximise the opportunities ahead.

SCBC Chair Sandy Zubrinich said presentations from leading economists and industry leaders painted a positive picture for the Sunshine Coast but also highlighted challenges that needed to be addressed.

“The Sunshine Coast has undergone an extraordinary transformation over the past decade and a half and we are now entering another defining period for our economy,” Ms Zubrinich said.

“What came through very clearly is that we have a strong foundation to build on, but investment alone won’t guarantee the outcomes we want.

“We need to ensure we have the workforce to deliver these projects, that we aren’t holding investment back through unnecessary red tape and delays, and that we use this next wave of investment to drive productivity as well as economic growth.”

The conference examined the Sunshine Coast’s economic performance since 2010, including the impact of the major ‘game changer’ projects identified through the region’s 2013 Regional Economic Development Strategy (REDS), and the role they have played in shaping the Sunshine Coast economy.

Analysis presented by Lucid Economics director Michael Campbell showed the structure of the Sunshine Coast economy had changed significantly, becoming more diverse and sophisticated and increasingly supported by knowledge-intensive and higher-value industries.

Ms Zubrinich said major investments including the Sunshine Coast Airport expansion and Maroochydore City Centre had helped broaden the regional economy, while more recent developments such as the Avani Hotel in Mooloolaba demonstrated continued investor confidence.

“What is really encouraging is that we are no longer talking about what these game changer projects might do for our economy – we can now look back and see the transformation that has taken place,” Ms Zubrinich said.

“The lesson from the past 15 years is that well-targeted catalytic investment can fundamentally change a regional economy.

“The question now is how we apply those lessons to what lies ahead, to ensure the planned $20 billion investment delivers the greatest benefit for the Sunshine Coast.”

Optimal Economics director Stephen Walters pointed to Queensland’s comparatively strong economic performance, while highlighting weak productivity growth as a significant challenge facing Australia.

He also identified labour shortages, the need to consider immigration settings, timely approvals and better coordination of public and private investment as important considerations to avoid escalating costs and project delays.

Housing affordability and availability also emerged as critical issues, with the Sunshine Coast’s rising property prices threatening to erode one of the region’s traditional competitive advantages.

Ms Zubrinich said unlocking new housing supply quickly and cost-effectively was essential to attracting and retaining the workforce needed to support the region’s next phase of growth.

“We have always had the advantage of offering an enviable lifestyle at a more affordable price than the major capital cities, but that advantage is rapidly disappearing,” Ms Zubrinich said.

“Unless we find ways to bring more housing to market faster and at a more affordable price, we risk undermining the very economic opportunities we’re working so hard to create.”

Former Brisbane Lord Mayor Graham Quirk told the conference the Games, improved public transport and road infrastructure and continued private-sector investment created significant opportunities for the Sunshine Coast, including new employment opportunities and the chance to engage a new generation in delivering the infrastructure needed for 2032.

He encouraged more young people to consider careers in trades and construction, describing the opportunity to help build the Games as something they could look back on as a lifetime achievement.

Mr Quirk also encouraged seeking interstate and international joint venture opportunities and highlighted the potential for the Games to leave a broader community legacy beyond infrastructure and economic growth, citing the significant increase in volunteerism and sport participation associated with the London Olympics.

Mr Quirk was then joined by Sunshine Coast Mayor Rosanna Natoli, Walker Corporation’s Peter Saba and Stockland’s David Laner for a panel discussion moderated by Property Council of Australia Queensland Executive Director Jess Caire, examining how the region could turn its significant investment pipeline into tangible outcomes for businesses and the broader community.

The discussion highlighted the importance of long-term planning, innovative “outside-the-box” approaches to development and infrastructure delivery, reducing approval windows to maintain momentum and ensuring housing, transport and community infrastructure kept pace with population growth.

Ms Zubrinich said addressing those constraints would require closer collaboration between all levels of government and the private sector, one of the SCBC’s key objectives for hosting conferences such as this.

“We heard that the Sunshine Coast is very well positioned for the next 15 years, but we cannot be complacent,” Ms Zubrinich said.

“We are competing for workers, skills and investment, and there is an enormous amount of infrastructure to be delivered across South East Queensland in a relatively short period of time.

“That means finding better ways of doing things, removing unnecessary barriers and ensuring the infrastructure and services our growing community needs are delivered when they’re needed.

“We have confidence in the Sunshine Coast and clearly investors do too. Our job now is to ensure that confidence continues to strengthen and that this once-in-a-generation investment pipeline translates into stronger businesses, better jobs and lasting prosperity for our region.”

About the Sunshine Coast Business Council

Sunshine Coast Business Council remains the peak business advocacy body on the Sunshine Coast, with membership spanning key national and regional industry groups and major private-sector employers across tourism, property, construction, retail, finance, telecommunications and professional services. Through this network the Sunshine Coast Business Council touches approximately 10,000 businesses.