9. Appendix F - Economic Impact Assessment

TABLE 4.3. NOOSA SITE TRADING IMPACT ASSESSMENT, 2018 – 2021
                                                     Estimated            Projected 2021              Impact 2021
                                           Unit        2018             Pre Dev. Post Dev.            $M       %

 Noosa Spotlight Development
 Sales from TTA residents                   $M           396.0               0.0       27.7           30.7       n.a.
 Sales from Beyond TTA                      $M              0.0              0.0        3.1            3.1       n.a.
 Total                                      $M              0.0              0.0       30.7           30.7       n.a.
 Total Trade Area LFR/Showroom
 Noosa Home development                     $M              0.0              0.0       30.7           30.7       n.a.
 Other LFR/Showrooms in TTA                 $M           396.0             423.6     396.0            -27.7    -6.5%
 Total                                      $M           396.0             423.6     426.7             3.1      0.7%

 Constant 2018 dollars and including GST



4.3.      Employment and Consumer Impacts

  i.     The development of large format retail/showrooms at the subject site will result in a range of important
         economic benefits. The key positive employment and consumer impacts will include the following:

          ­     The promotion of choice, convenience and price competition for Noosa residents, given the fact
                that there is an existing undersupply of large format retail/non-retail showroom facilities.

          ­     Providing expansion potential for large format retail/non-retail showroom facilities, given the
                limited available vacant land in the precinct. In addition, the site is located in a prominent location
                that would likely attract strong national tenants not currently represented within the region.

          ­     Showroom/large format retail facilities at the Noosa site are projected to employ around 378
                persons as summarised in Table 4.4. Taking a conservative view and allowing for an estimated
                10% of the total increase to be as a result of the reduced employment at existing facilities, the
                net additional jobs are estimated at 340.

          ­     The additional 340 permanent retail employees would earn an average annual wage of around
                $38,532 (as sourced from the ABS). This represents an additional $13.1 million in salary and
                wages for the local economy, directly as a result of the proposed development.

          ­     Further jobs would be created from the supplier induced multiplier effects as a result of jobs for
                the on-going running of the facilities at the proposed Noosa Marketplace site as well as from the
                construction of the development. Jobs created are full-time equivalent jobs, which may include
                both full-time and part-time positions. In total, some 323 jobs are projected to be created in the
                broader community, based on ABS Input/Output Multipliers (refer Table 4.5).




         Noosa Marketplace, Queensland
         Economic Impact Assessment                                                                               64
         May 2019