Castle Hill. Very much loved and used by the locals Townsville is located in Far North Queensland. This city was established around 1864, which is only 29 years after Melbourne was founded. The city was used as a distribution port for the sugar and pastoral industries in the early development of the region.
During World War 2, over 50,000 American and Australian troops and air crews were based out of Townsville. This military relationship has continued to this day with Townsville now being Australia’s leading garrison city. It is anticipated that the nearby training will be the preferred location for allied forces training by 2030.
The wider city area is both a modern business hub and picturesque tourist destination. With a growing population of nearly 200,000 people and a great climate, it has all the key ingredients to make your investment in property promising. With more than 300 days of sunshine a year, the average temperature in this part of the north remains an amazing 28 degrees.
Townsville Main Industries
Townsville ranks amongst the top ten electorates in Australia per capita income and it is consistently ranked as one of the top ten cities. If you are looking for opportunities to invest, develop, and do business in Northern Australia, Townsville is the perfect place for you.
The city and surrounding regions are growing with new opportunities and challenges. There are many opportunities for existing producers and investors to grow and succeed in local industries. It has strong industries in education, healthcare, retail, construction and manufacturing.
As the home to the largest Army base in Australia, there is an ongoing boost to this regional economy. This is reflected in new jobs in technology, construction, and engineering. There is also a RAAF Base that is co-located at the Townsville Airport. The Australian government has signed a military area training deal with Singapore, worth AU$2.25bn over the next 25 years. The training will support jobs and grow the economy in the region.
It is the home to two universities that include James Cook University and the Central Queensland University.
Townsville has several large public assets, these include the Australian Institute of Marine Science headquarters and the Great Barrier Reef Marine Park Authority.
Strength in Mining
Townsville is one of the few cities that has the capability to refine zinc, copper, and nickel. There are also plans to have a major $2B lithium-ion battery manufacturing facility in the region.
The Port of Townsville is the largest commercial Port in Northern Australia handling over 4.5 million tonnes of cargo each year. This will grow as part of the $1.6 billion Port Expansion Project which is due for completion in 2040.
The economy in Townsville is based on two fundamentals: the large and growing presence of the Defence Force and the growing presence of the Mining Sector. The two trends are interrelated. The increased presence of the Defence Force – which has contributed substantially to the growth and development over recent decades – makes extensive use of the town’s infrastructure and economic activity. In turn, massive development in the nearby mining sector has made Townsville an attractive place for assistance in supporting micro, regional and national government initiatives.