New Toowoomba Regional Council incentives policy for industrial projects praised by developers

The Toowoomba Regional Council has endorsed a new incentives policy that has already earned praise from at least one developer.

Aerial photograph of Toowoomba. Photo Kevin Farmer / The Chronicle Helicopter services courtesy of Heliwest Group

Members of Toowoomba’s development industry have praised a new incentives policy by the council that will reduce infrastructure charges for certain industrial projects.

In a move that one developer said would create jobs “immediately”, the Toowoomba Regional Council this week endorsed a plan to reduce the charges attached to material change of use (MCU) and reconfiguring a lot (RAL) applications for industrial activities in areas zoned for that development.

The policy, which runs between now and June 2022, will discount MCU applications by up to $100,000 in industrial zones, for uses like extractive, high, medium, low, marine, research and technology, service and special industries.

Additionally, charges attached to non-residential RAL development applications will be calculated at a lower rate per lot, making it more affordable for lots over 1430 sqm.

Mayor Paul Antonio said the incentives scheme was designed to boost business activity while the region recovered from the effects of the COVID-19 pandemic.

“In setting these incentives we did a lot of benchmarking against other councils and believe what we have put on the table is quite an attractive proposition, particularly to those in regional townships,” he said.

“This policy encourages the creation of new industrial lots and construction on industrial land to stimulate new employment across the region to minimise the economic downturn experienced as a result of the pandemic.

“In total the council has committed $2 million to this policy which is available until June 30 2022.”

The move was praised by Toowoomba developer and real estate agent Edward Hodge, who said the benefits would be quickly seen.

“This is one of the best economic development policies I have seen come from the council,” he said.

“It will be a real and immediate job creator for Toowoomba.

“It’s a huge incentive to buy industrial land and build new facilities.”

The policy is the first major incentives scheme the council has passed since it introduced a plan to reduce infrastructure charges for inner-city living developments.

This was seized upon by developer Kenneth Wagner to help create the new Toowoomba Oaks Hotel.