Gold Coast health and knowledge precinct: jobs capital if government builds on Games

THE Gold Coast Health and Knowledge Precinct could deliver a permanent workforce of 26,000 but it has a critical window of two to three years to secure more private investment.

THE Gold Coast Health and Knowledge Precinct can host a permanent workforce of 26,000 for the city’s north — and State Government reckons it is on its way to deliver after opening up new sites.

A report considered by councillors in closed session reveals the Government, city council and Commonwealth Games have already invested $5 billion in the 200 hectare Southport precinct, recognising it could have a “significant impact” on the city’s fast growing northern economy.

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Artist impression of the Gold Coast Health and Knowledge precinct masterplan. Supplied by State Government.

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“Leveraging this large investment into new development and jobs, particularly private investment, is our most urgent challenge, and complacency on this matter should be avoided,” the officer’s report said.

Council was told there was a two to three year window to get investments. The existing workforce of more than 10,000 employees could reach 26,000, and there was increasing business investment interest from the private sector.

“However converting this interest into ‘on-the-ground’ jobs is a challenge,” the report said.

State Development Minister Cameron Dick said demand for space within the coworking hub COHORT has prompted a new push for land sales within precinct.

Since opening its doors in April, COHORT has become home to around 160 digital health professionals and startup innovators with occupancy currently sitting at 80 per cent, he said.

About 9.5ha of state-owned land within the health and knowledge precinct is to be marketed domestically and abroad as ‘Lumina’.

“The development of this site over the next 10-to-15 years will ignite and unite businesses,” Mr Dick said.

Dr Brent Richards, the co-founder of IntelliHQ located at COHORT, welcomed the launch of Lumina and encouraged other health and knowledge businesses to get involved in the emerging health and innovation hub.

“Healthcare both wants and needs the continuously improving patient outcomes that will be created from the high-tech revolution,” he said.

“We’re excited to be part of this exciting venture.”

Councillors have backed a recommendation to fund $398,750 to attract a company to invest, along with $2.5 million for a “precinct investment attraction” program.

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The Health and Knowledge precinct incubation hub - where 9.5 to 10 hectares of land has been set aside for attracting globally competitive cutting edge firms to drive diversification of the economy after the Commonwealth Games

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Officers had found “that our investment targets are often courted by other governments” and there were not enough incentives.

“It is critical buildings to support precinct growth particularly private sector investment are made available in the next two to three years,” the officer’s report said.

The $1.7 billion Gold Coast University Hospital would soon acquire four lots within the Parklands precinct totalling 14,750sq m.

Bonney MP Sam O’Connor said he was concerned 18 months after the Games no private investment had occurred on any prime real estate blocks: “We need to get moving on the Health and Knowledge Precinct. Our window of opportunity to make it a reality is closing,” he said.