Boosting business investmentThe adoption of a new Business Investment Policy by Tweed Shire Council in June is already encouraging new investment in the Tweed.
The policy provides investment incentives for new, relocating, or expanding businesses within the Tweed Shire.
Businesses successfully applying under the new policy include a brewery investing in the Tweed for the first time and a Kingscliff preschool seeking to expand its existing operations.
Mayor of Tweed, Barry Longland, said the policy was created to promote diversification in the Tweed economy.
“The time is right for the Tweed economy to grow and mature after it has experienced a significant decline in the housing construction industry and business investment. This Policy will help promote both job retention and new employment opportunities.
“Council saw a need to encourage investment that creates jobs. The Tweed has a workforce participation rate which is lower than the State average and this has led to low disposable and household incomes.
“The Business Investment Policy is encouraging the development of a robust Tweed economy which is more resilient to fluctuations in the economic cycle, encourages a broader range of business activities and supports the growth and development of sustainable employment opportunities for the Tweed’s population.”
The Draft Business Investment Policy provides incentives assistance through a non-cash incentive package which allows for payment by instalments of developer contributions for water supply and sewer infrastructure. This Policy complements Council’s existing business assistance programs.
Byron Bay-based Stone and Wood was seeking to expand its existing brewing operations to establish a major production facility and found the Tweed to be the best location for their expanded operations.
“The Business Investment Policy was a game changer for Stone and Wood, and now their development application has been approved, the company will establish a major production facility in the Murwillumbah industrial estate,” Councillor Longland said.
“This will create 10 to 12 much-needed new full-time jobs. Due to the size of their operations they will encourage additional local jobs by sourcing locally supplied goods and trade services.”