Springfield Land Corporation has applauded the State Government's decision to support residents and businesses of the Western Corridor by fast-tracking funding for the vital Springfield rail link.
More than $120 million will be reportedly be announced tomorrow in the 2010-11 State Budget which will enable completion of the remaining 10km of rail line between Darra and Springfield, a station near the Orion shopping centreSpringfield Town Centre, plus much needed supporting infrastructure.
Chairman Maha Sinnathamby said the Bligh Government's decision supported the $2.4 billion investment already made by Springfield Land Corporation to create Australia's largest and fastest growing master-planned community.
"For many years I have been very vocal about the need for State Government funding to fast-track this rail link and I am grateful the State Government has answered the call," Mr Sinnathamby said.
He said the Government's recent decision to consider establishing three new ‘model cities' close by accelerated the need to shift the completion date for this vital rail link for the west forward from 2015 to 2013.
"Predictions of a booming South-East Queensland population are no surprise to us. Since we began building this vision almost 20 years ago, we have known cities of the future needed to be founded on solid integrated master planning principles that could deliver robust public transport, roads, health and education facilities, sewerage, stormwater management and open space systems," he said.
"All of that stems from ensuring the enabling infrastructure is available to support this vision. Governments have the capacity and capability to manage the very growth they think is out of control by strategically planning and placing appropriate infrastructure and services."
Mr Sinnathamby said Greater Springfield was a key element in the current demographic and growth plans of South-East Queensland.
"Direct investment into the Queensland economy from the Greater Springfield project currently stands at $1.4 billion annually with annual net additions to Gross State Product (GSP) of $313 million," he said.
"We have also supported or created a total of 439 jobs on a year to year basis. "But the benefits go far beyond direct investment. There has also been significant public sector funding through the provision of infrastructure and land parcels to the State Government.
"Factor in the increases in the rateable base brought about by population growth induced to become part of the Greater Springfield community and you start to see the real economic contribution."
Mr Sinnathamby said the rail link would further encourage businesses and residents to consider Greater Springfield, which was recently named as the world's best master planned development by the International Real Estate Federation at its Prix d'Excellence Awards.
"Ipswich is expected to be the State's fastest growing local government area, with an average annual growth rate of 4.6% over the period 2006-2031. This compares with an overall average growth rate of the State as a whole of 0.7% and for Brisbane of 1%," he said.
"The success of Greater Springfield has been a major catalyst in Ipswich's boom.
"We estimate more than $15 billion will be spent in the next 20 years further developing Greater Springfield and we have a set population target of 105,000 by 2030.
"Greater Springfield already has achieved world-wide acclaim as a place like no other and we will continue to strive to make it even more remarkable."
