Gold Coast Bulletin
GOLD Coast Commonwealth Games preparations are driving an estimated $4 billion-plus economic development boost thanks to fast-tracked major infrastructure.
Games Corporation chairman Nigel Chamier revealed the figure yesterday, saying the city’s economic development gain was likely to be more than double an original estimate.
“When we set out I believed we would have $2 billion worth of economic development, 30,000 jobs, 45,000 contractors and 15,000 volunteers.
“It has become very apparent that economic development will become more like $4-$5 billion,” Mr Chamier told delegates at major aviation conference, the ACI Asia-Pacific Regional Assembly at Broadbeach’s Gold Coast Convention Centre.
“What a great boost that is for this city.”
Speaking later to the Bulletin, Mr Chamier said a study underway on the Games economic impact was suggesting it was going to be much higher — “maybe double, maybe more”.
Major public and private projects brought forward because of the Games were behind the estimate soaring.
“I’m very grateful to the Gold Coast Bulletin for driving a campaign to force it to happen earlier. Clearly it is of great benefit. We never banked on it from the point of view of (Games) transport and planning — we couldn’t because there was no commitment to do it but now of course it is going to make life much easier.”
Other projects boosting economic development benefit included the Star Entertainment Group’s new $800m tower and Jupiters site development at Broadbeach, Pacific Fair’s $670m upgrade and airport floor space doubling.
“There is no doubt the Games have created a lot of excitement and acted as a catalyst for a lot of things to happen — and to happen earlier.”
About $320m was being spent on new Games venues which he said were on budget and on track to be finished by the end of the calendar year.