50,000 cracks threaten to derail Qld’s $77bn construction boom

Queensland’s construction industry is at an inflection point - faced with a huge task of resolving a 50,000-strong hurdle which is critical to the state’s $77bn construction boom.

With a forecast peak shortfall of 50,000 tradies within two years, Construction Skills Queensland is spending $60m in workforce development initiatives.

The funding represents an $8m increase from last year, reflecting the scale and urgency of demand forecast in CSQ’s landmark Horizon 2032: Imagining Queensland’s Future Construction Workforce report.

CSQ chief executive Geoff Clare says the money will boost the capability and agility of Queensland’s construction workforce in response to an era-defining boom.

“Queensland has a robust construction pipeline, driven by strong population growth, record investment in public infrastructure and the lead-up to the Brisbane 2032 Games,” he says.

“Without urgent and strategic investment in skills and training, workforce shortages will continue to challenge project delivery.”

CSQ chief executive Geoff Clare.

The Horizon 2032 report projects Queensland’s construction activity will climb from $53bn in 2024–25 to a staggering $77bn by 2026–27 — a 45 per cent increase in just two years. Workforce demand is expected to outpace supply, with a peak shortfall of 50,000 workers anticipated in 2026–27.

The not-for-profit CSQ’s 2025–26 Training Plan directly responds to these challenges by expanding its suite of training and workforce support initiatives to attract new workers and career changers, provide courses for building and civil workers and initiatives to support healthy and safe worksites.

A huge pipeline of construction work will see a peak shortfall of 50,000 construction workers in Queensland in 2026-27.

Funding boost

Brisbane-based molecule-to-medicine portfolio biotechnology company Lucui Bio, which is focused on developing a class of drugs to treat auto-immune conditions, has raised an additional $2m in seed financing.

The money brings the total seed investment secured to date to $3m which has been underpinned by a $1m investment from the UniQuest Extension Fund and $1m from Uniseed-managed funds.

The money will be used to support the continued development of Lucia Bio’s portfolio of potent and highly selective Syk inhibitors, which aims to broaden the therapeutic potential of the treatment of peripheral auto-immune conditions.

Tom McCarthy, co-founder and executive chair of Lucia Bio.

Co-founder and executive chair of Lucia Bio Tom McCarthy says the financial support allows them to maintain momentum in the program.

“With UniQuest’s significant prior investment in the discovery of best-in-class Syk inhibitors, Lucia Bio is well poised to deliver molecules that fully exploit the potential of inhibiting

this critical node in human immunology”.

The Syk program was initially developed at UniQuest’s commercial drug discovery group, QEDDI, which was established with an industry-experienced team to advance The University of Queensland’s promising drug targets towards the clinic.

Digital stars

Digital innovation festival, Something Digital, is returning to Brisbane for its eighth year with a roster of international and national thought leaders from NASA, Ben & Jerry’s, The London College of Fashion, and more.

Over August 26-27, at The Tivoli Theatre in Fortitude Valley, the festival will explore the 2025 theme Reimagining Human Intelligence, challenging how digital innovation is reshaping human potential.

Co-founder of Something Digital, Nadine Zrinzo, believes this year’s theme is critical in shaping the future of digital innovation.

“Digital and technology are advancing at an extraordinary pace, but the real question is how we choose to shape it,” she says said.

“Reimagining Human Intelligence isn’t just about AI, rather it’s about how we, as humans, adapt and evolve with technology to create the future we want to build.”