Appendix F- Economic Impact Assessment · MCU23/0078

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Economic outcomes



7.1 Introduction   This section considers the resultant economic outcomes arising from the proposed
                   construction and operation of Noosa Civic Village, including consideration of the
                   following:
                   •    Capital investment and resulting employment during the construction period
                   •    Ongoing employment generation
                   •    Consumer benefits such as additional shopping choice, improved convenience, price
                        competition, reduced commute to work, and improved variety and affordability of
                        residential accommodation.
                   •    Other effects including positive externalities arising for example from reduced travel.

                   Economic disbenefits have also been considered, particularly in terms of any adverse
                   consequences from competition effects; although, as noted in Chapter 6, the
                   development is not expected to lead to any substantial trading impacts on existing
                   centres.
7.2 Economic       Construction period effects
benefits
                   Significant employment will be generated during construction of the proposed Noosa
                   Civic Village, which is expected to commence in 2024 and be completed in 2026, over an
                   18-month timeframe.

                   Table 13 presents an estimate of the capital investment and construction-related
                   employment associated with construction of Noosa Civic Village, based on information
                   provided by Stockwell which indicates a total construction cost of $145m.
                   Applying typical labour cost ratios, the indicative construction cost would require a
                   labour input of almost 400 full-time equivalent jobs (FTE) over the life of the VMU
                   project, or an average of 255 jobs per year throughout the construction phase.


                   Noosa Village Mixed Use Development – Economic Impact Statement for Development Application   Deep End Services