Economic Report · MCU18/0019

1 Introduction

This is a preliminary economic impact assessment of the proposed 90 bed aged
care development project located on lands at the corner of Val Crescent and
Goodchap Street, Noosaville. The subject site is approximately 6,741m2. The
proposed development includes two levels, as well as basement car parking. The
facility will also provide a range of medical and ancillary services to support the
needs of residents.
The economic impact assessment considers:
•   The overall context of the aged care sector and trends in Australian aged care;
•   Noosa’s Economic Development Plan; and
•   The estimated impacts on economic output and employment during both the
    construction phase and the subsequent operational phase of the facility.

1.1 Key Findings
By way of a summary, the key findings of the assessment are:
    1. The project is estimated to support 158 full time equivalent jobs during
       construction.
    2. The project is estimated to support 178 full time equivalent jobs annually
       during operations.
    3. The project is consistent with the objectives of the Noosa Shire Economic
       Plan’s aims to diversify the region’s economic base and promote the growth
       in priority sectors such as aged care, health and wellness.
    4. The project can contribute to the development of the critical mass needed
       for the establishment of a centre of aged care excellence, as earmarked in
       the Noosa Shire Economic Plan – Action Plan.
    5. The project’s location specifically contributes to the creation of an aged care
       and health services cluster around the Noosa Hospital and Central
       Queensland University Noosa Campus. The facilitation of industry
       collaboration and clustering is an objective sought in the Noosa Shire
       Economic Plan. The proposed project goes towards this objective.




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