According to figures released by the Gold Coast City Council’s Economic Development branch BusinessGC, the Investment Attraction Program has returned dividends equal to almost two new jobs and more than $105,000 a day to the local economy, making the region one of the fastest growing urban development areas in the world.

“A combination of lower costs, a highly-skilled local workforce, world-class infrastructure and a supportive business environment means the Gold Coast is garnering a global reputation as a hotspot for investment and business success,” said Councillor Susie Douglas, who is also the Gold Coast City Council Economic Development and Tourism chairperson.

The program, which had the aim of diversifying industries away from the Gold Coast strengths of tourism and construction, has directly resulted in the creation of 1,300 jobs and $77 million in direct capital expenditure. It targeted nine sectors: film, fashion and music, education, environment, food and beverage, health and medical, information communication technology, sport business and marine industries.

Douglas added that a further 200 direct jobs and $15 million in direct capital expenditure has come through major companies that have established or relocated to the Gold Coast.

Walsh who is the author ofFuturetainment and CEO of Hong Kong based innovation research agency Tomorrow, likens the National Broadband Network to electricity in that it is an essential utility required to function in today’s Australia.

“Broadband is the 21st century equivalent of electricity; all the advanced markets in the world already have it thanks to a combination of business and government efforts; Scandinavia, Korea, China,”

“Research shows there is a clear correlation between innovation in business and fast broadband,” he says.

Walsh believes a National Broadband Network is vital for entertainment, gaming, and enterprise to flourish in Australia. In enterprise, for example, this could mean in the medical field, where imaging and patient X Rays can be delivered from regional and remote areas via broadband, an area Senator Conroy was quick to point to in his public utterances about the National Broadband Network.

“For advertisers, this means it is no longer enough to buy a TV or billboard ad. Advertisers now need to convince an audience to engage with their brand online, and have people forward it to their friends -because the only way you can get a critical mass of attention now is for an ad to go viral,” says Mr Walsh.

Walsh also believes the internet as we know it is changing.

”Globally, internet is simply becoming a utility. It is the applications that matter. Consumers don’t need to understand electricity to make a cup of tea. Fast broadband is just the start, not the end of the innovation curve. ”

“When you ask people in Indonesia if they use the internet they say no. But if you ask them if they use Faceook they say yes because they see Facebook as a button on their Blackberry.

Mr Walsh predicts that location-based social networking like Foursquare will boom in Australia shortly such as how VIVO Cafe used Foursquareto gain a swarm badge and promote their business online.

The Coalition plans to have the Office of Financial Management examine an ‘Infrastructure Partnership Bonds Scheme’, which will see upwards of $20 billion raised from Australians through the issuing of bonds with lucrative returns and tax advantages. This is seen as helping fill the “$700 billion infrastructure deficit” the Liberal party claims Australia faces.

The Housing Industry Association has come out in support of Mr Abbott’s plan, with the plan a reflection on of conclusions on the Urban Infrastructure Summit the HIA held last week according to HIA Chief Executive, Association, Mr Graham Wolfe.

“Infrastructure bonds issued under an appropriate framework offer a viable method of funding the much needed investment Australia requires, a point HIA emphasised at the conclusion of its Urban Infrastructure Summit held last week,”he said. “The need for alternative funding options extends beyond just large scale projects that are on Infrastructure Australia’s radar”

HIA’s MR Wolfe believes the infrastructure bonds proposed by Mr Abbott need to extend to support residential development, not just infrastructure, with the current user pay system inequitable.

“The funding of urban infrastructure for residential development also requires urgent attention to move Australia away from the current highly inequitable ‘user pays’ funding model.” he said.

Tony Abbott’s planned investment bond scheme would attract a 10 percent rebate on earnings from the bond, irrespective of the tax status or rate of the taxpayer. Following from this, these infrastructure bonds would save two thirds of the tax payable on the interest from these infrastructure bonds.

“As an international expert at HIA’s Urban Infrastructure Summit confirmed, a funding model based on municipal bonds issued in the US presents is a viable option for funding Australia’s residential infrastructure requirements.”

“To adequately address Australia’s future investment needs, the use of infrastructure bonds as a funding mechanism needs to incorporate the residential sector,” Mr Wolfe added.

Mr Ripper said Labor endorsed the Auditor General’s recommendations including the need to improve the procurement and delivery of capital projects.

“I acknowledge there were significant problems in the administration of the Perth Arena project during Labor’s time in office and I endorse the Auditor General’s recommendations which will ensure these problems are not repeated,” Mr Ripper said.

“Labor can be proud of its record in this State having delivered $30billion of infrastructure and capital works projects while reducing the State’s debt.

“This was clearly a project where the scarcity of planning and project management resources were exposed.”

Mr Ripper called on the Barnett Government to implement the Auditor General’s recommendations in full and as soon as possible.

“The future of major projects promised by Premier Colin Barnett are at risk,” Mr Ripper said.

“The Premier has announced major infrastructure projects including the Oakajee Port, Perth Waterfront Development and Northbridge Link without addressing any of the concerns highlighted in the Auditor General’s report.

“These projects have been announced and more than $564million of taxpayers’ dollars has been committed despite the fact that the projects have not been scoped or planned, the risks for the State have not been identified and there has been no transparency and no accountability in the decision-making process.

The Hunter Valley rail network is managed by ARTC and is a key component of the overall supply chain, delivering coal from mines in the Hunter Valley to the Port of Newcastle for export. The rail network also carries passenger trains and non-coal freight trains.

Late last year, the ACCC authorised capacity management arrangements for the export coal terminals at the port as part of the ‘long term solution’, and has recently been assessing access arrangements for ARTC’s Hunter Valley rail network. The ACCC wants to ensure that the Hunter Valley rail network contributes to the long term solution for the Hunter Valley coal supply chain.

In its draft decision the ACCC emphasises the need for the rail access arrangements to align with other components of the supply chain, and thereby contribute to an efficient and effective supply chain overall.

The ACCC has also recognised a need to balance the broader public interest objectives with the legitimate business interests of ARTC and the interests of all access seekers, including passenger trains, coal and non-coal freight.

In relation to the price of access, the ACCC’s draft decision reflects the principle of the Act that prices should allow for an appropriate return for ARTC that reflects risk, so as to encourage efficient investment in, and use of, essential infrastructure.

In the draft decision the ACCC has provided detailed feedback to ARTC to assist it to revise its arrangements to a form that could be accepted. The ACCC also noted that ARTC and industry have been working in the interim on solutions to some of the outstanding issues, which may assist to address some of the matters raised by the ACCC.

The ACCC acknowledges the complexity of the task and the hard work undertaken by the parties to date. It strongly encourages industry to continue to work cooperatively to devise an appropriate and effective outcome.

The ACCC is publicly consulting on its draft decision. Submissions must be received by 31 March 2010. The ACCC may place less weight on submissions received after this time.

14 coal companies met yesterday in a meeting chaired by former NSW premier Nick Greiner after the QLD Government announced plans to float Queensland Rail Coal as early as October this year.

The floated company would be a vertically integrated rail operation including the railway lines, trains and coal carriages that run on them. The proposed vertically integrated model raises questions over whether structural separation is necessary to avoid a repeat of the Telstra sale result.

The coal companies have agreed to form a consortium to buy only the rail lines themselves and not the associated rolling stock.

Queensland Premier Anna Bligh defended the government’s decision to float the entirety of Queensland Rail, and not just the railway network, as this would give the highest income from the sale. “my role is to look after the taxpayer”.

Chief executive of Queensland Rail, Lance Hockridge, believed comparisons between his company and Telstra were unwarranted in an interview with ABC’s Inside Business television program.

“You are talking about a big, big company with literally millions of small customers versus a company like ours with a handful, or two handfuls, of big customers, of the kind of BHP and Rio Tinto.”

“We’ve looked around the world at every railroad around the world. What is the right model for this kind of business . . . the North American railroads, the so-called class one railroads, all of which are publicly listed. They are all vertically integrated and they are all very successful railroads.”

The proposed Queensland Rail structure differs from that which exists in other states. In NSW, the federal government owns the railway tracks through the Australian Rail Freight Corporation, with the rolling stock owned and operated by Queensland Rail and Pacific National.

Workers on Pilbara’s Gorgon Gas project are expected to work for 70 hours a week and for 29 days straight before having a 9 day break. The West Australian revealed yesterday that low-skilled workers such as labourers would get about $150,000 annually and qualified tradesmen would get about $10,000 more.

The Master Builders Association Kim Richardson warns that such high rates of pay the for Gorgon Gas project workers would leave the construction industry with a skills shortage nationwide, leading to higher house prices.

“When our industry trains these young skilled workers to be tradespeople, as soon as they’ve finished their apprenticeship they’re off up north, to get paid, let’s face it, $2,500 to $3,000 a week, much more attractive than staying in Perth.”

Worksafe Commissioner Nina Lyhne believes working 70 hours a week on the project could lead to fatigue and place workers at risk.

“I would say that 70 hours a week certainly sounds like it’s at the higher end of the scale. There would be cause for concern if there weren’t appropriate arrangements in place for adequate breaks and those sorts of things.”

“So, it certainly is at the higher risk end of the scale.”

Disputes over the $2.3 billion Eagle Downs hard coking coal project in Queensland threatens a billion dollar Queensland Rail (QR) expansion, with Aquila Resources and Bowen Central Coal (BCC) disputing the infrastructure arrangements.

Disputes over the infrastructure terms resulting in the use of the Dalrymple terminal in Mackay instead of the expanded Abbot Point coal terminal could push exports for the project back from 2012 to 2015. The Eagle Downs hard coking project had been selected as a foundation customer by Queensland Rail for the Goonyella Abbot Point expansion to connect the Bowen Basin rail infrastructure, through to the Abbot Point coal terminal.

QR spokesman Mike Carter issued a statement counter to the speculation that the rail link was under threat.

“We have a number of customers for the GAP project, including the Northern Missing Link, and at this stage the project remains committed to proceeding, with construction expected to start in early April,” Mr Carter said.

“We have a range of customers, our project is on schedule, it’s aligned to a 50-million-tonne per annum project and we’ll have that ready to go in early 2012.”