TOWNSVILLE BURDEKIN CHARTERS TOWERS HINCHINBROOK PALM ISLAND
Townsville Enterprise pays its deepest respects to Aboriginal and Torres Strait Islander Peoples as the traditional custodians of the land in Australia, and recognise their continuing connection to land, water and culture.
We pay our respect to Elders past, present and emerging. We acknowledge the stories, traditions and living cultures of Aboriginal and Torres Strait Islander peoples and commit to fostering a culture of learning and working with First Nations peoples in the spirit of reconciliation and access to justice.
About Townsville Enterprise
Townsville Enterprise is a not-for-profit, non-partisan, membership-based organisation that represents the local government areas of Townsville, Magnetic Island, Hinchinbrook, Burdekin, Charters Towers and Palm Island.
For over 30 years, Townsville Enterprise has played a critical role in leading the economic progress for the Townsville North Queensland region. As the peak economic development and destination management body, Townsville Enterprise has the remit of securing the future of North Queensland. This is achieved through strong political advocacy, attracting major investment, promoting the region as a place to visit, invest and live, supporting our members and enhancing our destination through product and experience development.
JOIN US AS A MEMBER TODAY AND HELP SECURE THE FUTURE OF TOWNSVILLE NORTH QUEENSLAND.
Hinchinbrook. Photo by mycolourfulworld
OUR VISION
OUR PURPOSE
Securing the future of Townsville North Queensland.
OUR VALUES
EXCELLENCE
Accept nothing less than quality in everything we do.
PARTNERSHIPS
Work together, inspire each other and use external membership relationships to achieve strategic priorities.
NON-PARTISAN
Strive for what is best for the region – independent of politics. Be transparent, informative and data-led.
CREATIVE
Be innovative and imaginative in creating an exciting and vibrant future.
Chief Executive Officer
Kevin Gill Chairman
Claudia Brumme-Smith
Chair & CEO Message
The Townsville North Queensland region is on the brink of unprecedented growth, with a momentum not seen in over a decade. This transformation is driven by a record-breaking $30B+ pipeline of infrastructure projects over the next 10 years, positioning our region as a beacon of progress and innovation. Townsville Enterprise is immensely proud to have been the leading force in advocacy, investment attraction and support for this project pipeline, a significant portion of which is being realised due to the commencement of the CopperString project. This initiative is not just an investment; it’s the single largest commitment to a clean energy future in our State’s history—a transformative project that has ignited a new era of prosperity for our region.
The 2024 financial year was a defining period for Townsville, as we strategically positioned ourselves to capitalise on the opportunities presented by this green energy revolution. For over 30 years, Townsville Enterprise has been the unwavering advocate for our region, ensuring that all levels of government recognise the essential infrastructure and policy changes needed to unlock the true economic potential of North Queensland. This year, our advocacy platform, “Unlock the North,” was at the forefront of our efforts, delivering a clear and unified message to Brisbane and Canberra ahead of the State and Federal budgets. Our collective efforts resulted in securing over $2.5B towards catalytic projects for North Queensland, with further initiatives under consideration as we approach the 2024/2025 State and Federal elections. While we made significant strides in advancing our major advocacy priorities, we also faced challenges, notably the uncertainty surrounding funding for the Great Barrier Reef Aquarium in the May 2024 Federal budget. However, our regions support for this project and our united voice shone through, as Townsville Enterprise spearheaded a communitydriven campaign that garnered nearly 8,000 signatures in support of funding the National Education Centre of the Reef. After years of relentless advocacy and a powerful community movement, in August 2024 the Prime Minister of Australia, the Hon. Anthony Albanese MP, made a landmark $100 million funding commitment to rebuild the Great Barrier Reef Aquarium—a momentous decision that will have lasting impacts on our community, tourism industry, and the future conservation of the reef.
As we championed the need to rebuild key tourism infrastructure, Townsville Enterprise also ensured that our region continued to grow in prominence
and drive tangible outcomes for our visitor economy. Our efforts in building international capacity through strategic trade partnerships have been pivotal. With over 300 sales meetings conducted across Australia, United Kingdom, Europe, and Singapore, interest in our region and its developments—such as the opening of Ardo, our first 5-star hotel—has never been stronger. This year we saw a record number of Townsville North Queensland operators in attendance at the Australian Tourism Exchange and we also launched a global trade portal which has helped further amplify our region’s awareness. Domestically, our marketing initiatives have yielded extraordinary results. For every dollar spent on marketing, we secured $32 in visitor expenditure, reflecting an outstanding return on investment for our region. Our campaigns reached over 13M people, and directly resulted in securing an additional 16,000 visitors. Brand awareness for Townsville North Queensland continues to grow, with a significant increase in our Net Promoter Score and over 76% of campaign viewers taking action towards booking a holiday in our region.
Whilst the region saw some great highs and wins, the summer season for tourism operators did bring with it some significant challenges. In January 2024 the regions tourism industry saw severe setbacks in the aftermath of consecutive natural disasters. Cyclone Jasper, though sparing the region from physical damage, inflicted significant financial losses through millions of dollars in booking cancellations and negatively shifted consumer sentiment. Just six weeks later, Cyclone Kirrily struck the region directly, exacerbating the situation with widespread cancellations and enduring challenges to the region’s sentiment and forward bookings. Townsville Enterprise was quick to respond to support the
industry in advocating for the Townsville North Queensland Recovery Action Plan. With support from the State Government and Tourism and Events Queensland, Townsville Enterprise launched a 50% off local deal campaign – Mates Rates. The campaign sold out in just 72 hours and provided immediate and much needed support to local operators. Recovery efforts were also supported by a 50% Qantas flight sale and more than $6.4M in PR coverage.
Our more than 60 local tourism ambassador volunteers have been instrumental in promoting our region to visitors through our Visitor Information Centre and at key events. We thank our volunteers for their dedication, expertise and friendly welcome they offered tens of thousands of visitors this financial year. Our volunteers also formed a significant part of our advocacy to secure the Great Barrier Reef Aquarium.
Following membership feedback and an ever-growing pipeline of infrastructure projects requiring over 20,000 additional skilled workers in the next five years, we have started to turn our focus towards liveability promotion and workforce attraction. The foundation for a major Townsville liveability campaign was laid in FY24 through a major research project that set to identify a compelling messaging platform that resonated with potential relocators. This work was also complemented by our role as the Designated Area Representative for the DAMA (Designated Area Migration Agreement), securing over 250 positions for our region. Further supporting our region’s liveability in March 2024, Townsville hosted one of the world’s biggest rockstars – P!nk at Queensland Country Bank Stadium. This was off the back of advocacy and negotiations led by Townsville Enterprise, Stadiums Queensland, Tourism and
Events Queensland and Townsville City Council. With not one- but two sell out stadium shows, 65,000 fans descending on the city and more than $40M injected into the local economy –the city turned pink and put on a show like nowhere else in the country.
To stay at the forefront of regional development, Townsville Enterprise introduced a comprehensive project pipeline dashboard, showcasing the value, status, and job creation potential of the region’s $30B infrastructure pipeline. This year also saw substantial investments that will bolster our region’s development for years to come, including Quinbrook’s $8B Polysilicon Refinery, a $530M expansion of Townsville University Hospital, and JetZero Australia’s announcement to produce Sustainable Aviation Fuel in our region. Additionally, Townsville is set to become a hub for cutting-edge technology with the announcement of
vanadium flow battery manufacturing, a $137M Green Energy Hydrogen Hub, and an MOU between the Port of Townsville and ABEL Energy to produce and export green methanol from a new $1.7B facility.
As a not-for-profit membership organisation, our members are the heart of everything we do. This year, we were supported by over 320 members, marking a growth of 10.4% year-on-year. We extend our deepest gratitude to our principal partner, Townsville City Council, our North Queensland regional councils, our platinum members—Townsville Bulletin, Bravus Mining and Resources, Southern Cross Austereo—and our major partners, including Tourism and Events Queensland and Townsville Airport, for their unwavering support.
As we move into the new financial year, Townsville Enterprise stands resolute in its mission to advocate for and promote the Townsville North Queensland region.
With both State and Federal elections on the horizon, we are at a pivotal moment for the region. The decisions made by today’s government will shape the future for generations to come. It is imperative that Townsville Enterprise continues to champion transformative infrastructure projects and policies that will unlock North Queensland’s full potential. Looking ahead, we are excited to launch our liveability campaign, introduce a new destination management plan for Townsville North Queensland, and continue driving industry advancement through strategic investment attraction.
As the region’s peak economic and tourism body, we remain steadfast in our commitment to secure the future of Townsville North Queensland and we thank everyone who has joined us on this journey and look forward to achieving even greater milestones together.
Year in summary
For every $1 invested into destination marketing activity $32 in visitor expenditure was achieved
Secured $2.5B in public and private investment
Welcomed 52 new members this year (10.4% growth YOY)
More than 300 tourism sales and trade meetings across the year
$30B+ pipeline of projects
More than
2,570 attendees at more than 33 events across the year
Hosted
49 media, tourism trade, event organiser or investor famils across the year
Secured 70 operator mentions across print media, and 133 mentions on social media.
23|24 Committees
FINANCE AUDIT & RISK COMMITTEE
Kathy Danaher, Chair
Townsville Enterprise Limited, Director
Shawn Anderson
Queensland Country Bank
Luke Guazzo
Presto Coffee
Peter Duffy – resigned 29/11/2023
wilson/ryan/grose
Allison McKay – appointed 19/01/2024
Pickerings Group of Companies
Kevin Gill
Townsville Enterprise Limited, Chair
Observers
Claudia-Brumme Smith
Townsville Enterprise Limited
Tracey Holmes
Townsville Enterprise Limited
MEMBERSHIP COMMITTEE
Jamie Fitzpatrick
FGH Group
Peter Wheeler
Colliers Townsville
Observers
Claudia-Brumme Smith
Townsville Enterprise Limited
Tracey Holmes
Townsville Enterprise Limited
Karen Davis
Townsville enterprise Limited
ECONOMIC DEVELOPMENT STRATEGIC ADVISORY COMMITTEE
Ranee Crosby – Chair
Port of Townsville
Carl Valentine
PVW Partners
Cr Mary Brown
Hinchinbrook Shire Council
Brendan Cook
Townsville Airport Limited
Stuart Cunningham
Core Developments NQ
Paul Taylor
Glencore
Nyree Bolton
Townsville City Council
Jacqueline Bohn
Townsville City Council
Claudia Brumme-Smith
Townsville Enterprise Limited
Paul Holden
Townsville Enterprise Limited
Tracey Holmes
Townsville Enterprise Limited
Observers
Marie-Claude Brown
NQROC
Heidi Turner
Townsville Chamber of Commerce
James Doyle Department of State
Development, Infrastructure, Local Government, Planning
Maria James MITEZ
Wayde Chiesa
Regional Development Australia
TOURISM & EVENTS STRATEGIC ADVISORY COMMITTEE
Michael Jones – Chair
The Ville Resort Casino
Amanda Byrne
Queensland Airports
Cr Mary Brown
Hinchinbrook Shire Council
Jacqui James-Eggins
North Queensland Toyota Cowboys
Associate Professor Laurie Murphy
James Cook University
Mark Evans
Paronella Park
Nyree Bolton
Townsville City Council
Claudia Brumme-Smith
Townsville Enterprise Limited
Lisa Woolfe
Townsville Enterprise Limited
Observers
Jamie Fitzpatrick
FGH Group
Kevin Gill – Chair
Townsville Enterprise Limited
Michael Kern
Townsville Chamber of Commerce
Marie-Claude Brown
NQROC
Simone Sullivan
Townsville Enterprise Limited
Key industry snapshot
North Queensland’s robust economic landscape and diverse industry makeup indicates the region is primed for growth. Significant public and private investment into key future and traditional sectors has helped the regions project pipeline grow to $30B+. The region’s ability to grow the traditional industries as well as capitalising on emerging opportunities in renewable energy and green manufacturing will be crucial in driving and shaping our economy.
HEALTH
The health industry remains vital to the North Queensland economy, being the largest employing industry supporting around 20,000 people. The health sector is forecasted to be the fastest growing industry for Townsville North Queensland. There has been significant investment to meet the increasing health demand with the State Government investing $597M across five projects, including the $530M Townsville University Hospital expansion which started construction this year. Investment is also occurring at the Mater Townsville who are constructing a maternity suite and refurbishing an existing building to house general services, transferring services offered at the Hyde Park facility to the new purpose-built facility in Pimlico.
AGRICULTURE
Agriculture remains a significant industry for the region being the largest economic contributor in Burdekin and Hinchinbrook. The Townsville North Queensland region is the largest producer of sugarcane and melons across the nation. High sugar prices over FY24 and a near doubling of live cattle exports have supported the 20.6% uplift of value-add in the agricultural industry in the past 12 months.
DEFENCE
The Defence industry is the biggest contributor to the North Queensland’s Gross Regional Product (GRP) and is set to expand with the Defence Strategic Review identifying the bolstering of northern Australia bases as crucial, positioning Townsville to become the Army capital of Australia. Townsville Enterprise has recognised the need for a clear strategic direction and established the North Queensland Strategic Defence Working Group - guided by industry leaders both within and outside the Defence sector.
In response to increasing the capability of Defence’s northern bases, it was announced that Townsville will welcome at least 500 defence personnel to the region from 2025. Defence Housing Australia committed to developing at least 500 new dwellings in the region to ensure the influx of personnel does not impact the already tight property market.
TOURISM
Townsville North Queensland’s visitor economy remained strong in FY24 with regional expenditure reaching a record-high of $1.55B. Holiday travel remained the main driver of visitation with the region offering a wide variety of tourism products. The region welcomed more than 3M visitors in the past year through domestic daytrip and overnight visitors, as well as the recovering international visitation. The region also solidified its reputation as the events capital of the north, highlighted by P!nk - concluding her Australian tour with two sold-out concerts. Townsville Airport also set a passenger record welcoming over 1.67M travellers through the terminal.
MINING AND MANUFACTURING
The announcement of the CopperString project will unlock over $740B worth of critical minerals, alongside the abundance of natural solar and wind resources. The global transition towards decarbonisation has presented the region with the opportunity to leverage its natural resources to mine, refine and manufacture the sought after minerals and technology that will allow the region to prosper. The investment into these high value adding projects has begun with $14B worth of mining and manufacturing projects set for the region. Both the mining and manufacturing industries have been recognised and backed by the State Government’s Queensland Critical Minerals Strategy.
EDUCATION
Education and training rank as the third-largest employment industry in Townsville North Queensland. The region hosts over 100 primary and secondary schools, offering private, public, and speciality schooling for all learning and development needs. Townsville also boasts two universities and three vocational training centres, which are crucial for developing a highly skilled workforce. With an anticipated need for 5,000 new ongoing jobs and 12,000 construction jobs over the next six years, training and retaining potential workers is essential. New developments including James Cook University’s Engineering and Innovation Place, and TAFE’s Hydrogen and Renewable Energy Training Facility will support these future workforce requirements.
ENERGY
North Queensland is well-positioned to capitalise on the decarbonisation movement. The region has an abundance of natural resources throughout the North and Northwest with over 300 days of sunshine annually and unique day-night wind patterns near Hughenden, North Queensland is a prime location for the development of renewable energy generation projects. There is currently around $12.2B of energy projects set for the region which has been largely supported by the CopperString commitment. This will enable the region to supply clean, emissions-free power to the nation. North Queensland has also been identified as a green hydrogen hub positioning the region as a promising centre for this emerging industry. Several companies are establishing operations in North Queensland with plans to produce hydrogen form renewable energy for both domestic and export markets. By leveraging its renewable energy advantages, North Queensland can become a major contributor to Australia’s zero-carbon transition.
Advocacy
The Unlock the North advocacy platform remains front and centre of Townsville Enterprise’s advocacy campaign to State and Federal Government. Projects across the areas of advanced manufacturing, water
security, housing, workforce shortages, health, tourism, and liveability, featured in the delegations held in Brisbane and Canberra, with more than 30 meetings secured with Ministers and advisors across all key portfolios.
In FY24 commitments were made to an estimated $2.5B in projects for North Queensland.
HIGHLIGHTS:
Community campaign: Save our Aquarium
The May 2024 Federal Budget left funding for the Great Barrier Reef Aquarium unclear. This prompted Townsville Enterprise to launch a community advocacy campaign #saveouraquarium, which gained almost 8,000 signed petitions. The strength in united advocacy, and heralding community pride in our city did not go unnoticed. In August 2024, the Prime Minister of Australia Hon Anthony Albanese MP committed the final $100M to rebuild the national education centre of the Great Barrier Reef – the Great Barrier Reef Aquarium. The landmark decision and announcement to fund the Great Barrier Reef Aquarium is a game-changer for North Queensland, and would not have been possible without the supporters who signed the community petition, businesses that provided letters of
support, the students from across the region who shared their messages on social media, our media partners who have helped extend our message, and our ambassadors including Traditional Owners, world leading scientists, tourism volunteers and Steve ‘Pricey’ Price, who backed the campaign.
We extend our thanks to the Prime Minister, Senator Nita Green, State Government and Townsville City Council, Townsville Enterprise members and our North Queensland community – this achievement would not have been possible without your support.
The Great Barrier Reef Aquarium will alone generate more than 1,300 direct and indirect jobs and contribute over $444M to our local economy - delivering unrivalled economic benefit, global profile and education and conservation advantages.
HIGHLIGHTS
Delegations:
Throughout FY24, Townsville Enterprise undertook government budget submission delegations to both Brisbane and Canberra.
Townsville Enterprise CEO, Claudia Brumme-Smith was invited by the then Premier of Queensland Annastacia Palaszczuk in July 2023 to join the Asia Trade Mission to promote North Queensland’s potential in renewable energy and critical minerals. Japan is ready to invest into decarbonising projects and Townsville North Queensland is primed to receive this investment.
Submissions:
On behalf of our members and local business community, Townsville Enterprise advocated for the region through several government inquiries, presenting clear policy recommendations to address key business issues. These included:
The National Hydrogen Strategy
In August 2023, Townsville Enterprise highlighted North Queensland’s renewable hydrogen opportunities and challenges.
Aviation Green Paper
In December 2023, recommendations were made to establish North Queensland as a hub for Sustainable Aviation Fuel (SAF) manufacturing, leverage Defence Force needs for aviation skills and SAF production and supporting capacity growth in regional airports.
Townsville North Queensland Recovery Action Plan
In January 2024, a three-stage plan was presented to address tourism sector challenges post a challenging cyclone/ summer season. We acknowledge and thank the State Government and Tourism and Events Queensland for supporting regional tourism recovery through a voucher incentive scheme (Mates Rates) and flight incentives.
Energy (Renewable Transformation and Jobs) Bill 2023
In February 2024, recommendations to the Queensland Government focused on streamlining approvals for renewable energy projects, updating the SuperGrid Infrastructure Blueprint, and emphasising gas’s role in firming renewable energy.
RegenAqua breaks ground:
Following a successful advocacy campaign to secure $8.8M for a macroalgae wastewater treatment facility in the Burdekin. In September 2023, the Burdekin Shire Council and Townsville Enterprise member Pacific Biotechnologies Australia officially celebrated site handover of the Burdekin Wastewater Treatment Facility to RegenAqua. This marked the start of construction of the first macroalgal urban wastewater treatment facility in the world.
Defence Strategic Review:
Following Townsville Enterprise’s Defence Strategic Review Submission, all recommendations were announced for Townsville North Queensland. These announcements included seeing all of Army’s heavy armour and half of its helicopters hosted in Townsville from 2025. This will mean at least 500 additional personnel relocating to Townsville on top of the already 4,000 strong military base.
Defence Housing Australia (DHA):
Following the announcement from the Defence Strategic Review, Townsville Enterprise advocated to DHA to consider the impacts that the relocation of 500 personnel would have on the region’s tight housing market. Along with the support of Townsville’s city leaders, the advocacy efforts proved to be successful, with DHA announcing their New Builds Volume Leasing Program in May 2024. This program will secure an additional 500 new homes for the city.
We participated in the roadshow from Townsville to Mount Isa last year and we really think that Townsville Enterprise plays a key role in engaging stakeholders throughout the region, as well as State and Federal counterparties. That role they play in advocacy is key to ensuring that energy transition occurs.
NATHAN BLUNDELL, CHIEF DEVELOPMENT OFFICER, WINDLAB
Hydrogen Hub:
Townsville Enterprise has continued to advocate for policy and funding incentives to support the emerging hydrogen industry. In February 2024 the region took a major step forward towards securing its future as a green manufacturing city, with Federal funding announced to build a $137M Green Energy Hydrogen Hub in Townsville.
North Rail Yards:
The housing crisis faced in Townsville North Queensland was a key component of Townsville Enterprise’s advocacy for FY24. The North Rail Yards Project, which has been led by Townsville City Council, first featured in the 2023 edition of Unlock the North. This high-density living project provides the opportunity to attract highly skilled workers to the region, offering a variety of amenity and lifestyle benefits. In June 2024, the Queensland Government committed $35M to kickstart the development of the project.
Mount Isa Mine Closure:
In October 2023 Glencore announced that the Mount Isa Mines underground copper operations (Enterprise, X41 and Black Rock) and copper concentrator would close in the second half of 2025. The announcement was consistent with Glencore’s strategy to focus on zinc mining in the Northwest region. Townsville Enterprise engaged with the Department and Minister’s to identify the flow-on economic impact to the North Queensland region as well as solutions to transition the workforce post-mine closure. In response, the State Government announced the $30M Mount Isa Mining Acceleration Program, which will expedite mining projects. More than 2,500 jobs will be created over the next five years, unlocking new opportunities to support mine workers and the Mount Isa community. The Acceleration Program funding will be allocated to three projects:
▶ Eva Copper mine Project (Harmony Gold) - $20.7M
▶ Paradise South Phosphate Mine (North West Phosphate) - $5.77M
To support workforce development for the region’s expanding energy sector, in January 2024 the Queensland Government announced the development of a SuperGrid Training Centre and Transmission Hub - a permanent 10-hectare Hub to be based at Cleveland Bay Industrial Park.
CopperString:
Following the meeting of the Queensland Community Cabinet in Townsville, the then Premier Annastacia Palaszczuk MP announced that the Government would spend $1.3B on the Copperstring project ahead of its confirmed construction start date in mid 2024. This is an additional $700M above what had been committed in the 2023/24 State Budget.
Townsville Eastern Access Rail Corridor (TEARC):
In June 2024, it was announced by the State Government that $2M had been allocated to revisit the TEARC business case. TEARC will improve rail connectivity and efficiency in Townsville.
Mater Hospital Expansion:
The Mater Maternity and Renal Unit Redevelopment was an advocacy ask in the 2023 edition of Unlock the North State and Federal Budget Submission. In October 2023 it was announced that this project was successful in receiving a loan from Northern Australia Infrastructure Facility (NAIF), providing $25M to improve health facilities at Mater Private Hospital in Townsville.
Suncorp Regional Hub:
In February 2024, Townsville Enterprise advocated to both State and Federal Government in support of the ANZ and Suncorp merger. Under the terms of the deal, Suncorp committed to opening a regional hub in Townsville which would create 120 jobs and support the economic growth of the region.
On the horizon for 24|25:
As we move into the FY25, advocacy will remain at the top of Townsville Enterprise’s agenda. With looming State and Federal Elections, a strong united voice for North Queensland will be critical to secure the priorities and projects that will unlock and help grow the region. With a significant pipeline of projects announced or underway it will be vital that enabling infrastructure and policy requirements see commitments in upcoming election cycles. Furthermore, to enable population growth for North Queensland, infrastructure that supports enhanced liveability and the visitor economy, will also be an important catalyst for growth in the region. Moving forward, Townsville Enterprise will continue to work with all levels and sides of government, as well as our local partners, members and media, to ensure that we advocate for what is best for North Queensland!
Regional Development and Investment Attraction
This past year has proven to be a momentous year for the region in terms of attracting new private and public investment. Following the announcement from the Queensland Government that they would own and deliver the $5B CopperString project, we have seen continued interest in the Northwest region for both mining and renewable energy projects. It is estimated that the CopperString project has so far unlocked
over $7B in private sector investment. This investment is particularly welcome for the Northwest region. Other industries across the region also demonstrated growth either through the announcement of new projects, such as Quinbrook’s $8B Polysillicon Refinery, or the commenced construction of existing projects such as the $530M Townsville University Hospital expansion. This year has also been significant for the Defence industry,
with the outcomes of the Defence Strategic Review resulting in force posture changes that saw Townsville emerge as Australia’s Capital of Defence. Currently issues around workforce and housing shortages present the greatest threat to the growth of industry that Townsville North Queensland is experiencing.
8.3%
YoY growth in Gross Regional Product to $22B
Total Value of Projects Secured in FY24: $2.5B
New Industry Developments:
$30B+ project pipeline
$7.8B of investment into new critical minerals and renewable energy projects secured post-CopperString announcement
Townsville Enterprise is proud to support the following announcements that were made for new industry developments in the region.
These projects represent significant private sector investment that will support jobs and economic growth in strategic and sustainable priority sectors. Townsville Enterprise will continue to support these projects as they progress through to construction and completion.
▶ JetZero: JetZero Australia announced the successful execution of a groundbreaking licence and Engineering Agreement with Australian partnerships between JetZero, LanzaJet, Airbus and QANTAS, marking a significant milestone for Australia, and naming Townsville as the host location. This project will revolutionise the aviation industry by converting agricultural by-products sourced from sustainable origins into 102 million litres of SAF annually. That's the equivalent amount of SAF production which on a maximum blend, could meet the annual jet fuel demands for Townsville Airport. Also having the potential to reduce CO2 emissions on a commercial flight by approximately 70% on a net lifecycle basis, relative to traditional fossil-based jet fuel.
▶ Vanadium: Vanadium flow batteries will be entirely manufactured out of North Queensland, under a new agreement between three major companies. Idemitsu Australia, Sumitomo Electric Industries and Vecco Group (the group) have signed a Collaboration Agreement to build a complete manufacturing supply chain, from mining to energy storage.
▶ Green Methanol: Townsville North Queensland stands to become a leader in the production, export and supply of green methanol, following the signing of a Memorandum of Understanding (MoU) between ABEL Energy and Port of Townsville. The MoU underpins ABEL Energy's plans to produce and export green methanol from a new $1.7B manufacturing facility near the Port of Townsville.
HIGHLIGHTS
▶ In September 2023, Townsville Enterprise undertook a fiveday road trip through the Northwest corridor to speak to proponents, local councils and our members about the impact of the CopperString project for the region. Five videos and newsletters were released to document the perspectives along the corridor. To complete the road trip, Townsville Enterprise hosted a stakeholder function in Mount Isa, which brought together government and industry stakeholders to discuss some of the infrastructure challenges which would need to be addressed to help deliver CopperString.
▶ Townsville Enterprise supported investment attraction through meetings with TIQ Taiwan Commissioner and PNG Trade Delegation to discuss regional investment priorities.
▶ Bronze and above roundtable events were hosted with Townsville Enterprise Members to discuss regional priorities ahead of the 2023 State and Federal Budget submission.
▶ In November 2023, we hosted the Queensland Pacific Metals Project Key Stakeholder Forum in partnership with Townsville City Council. The event included a roundtable discussion between industry representatives from Queensland Pacific Metals, North Queensland Gas Pipeline, Port of Townsville and AEC Group, as well as representatives from Queensland Treasury, the Office of the Co-ordinator General and NAIF. This was followed by
a networking luncheon and a site visit to the Lansdown EcoIndustrial Precinct, which was hosted by Townsville City Council.
▶ In May 2024, the Regional Development & Investment team delivered a project pipeline dashboard for internal use, the project pipeline provides detailed information on the flow of investment into the region, and how projects progress through each development phase. The dashboard is designed to provide insight into the total value of investment into the region, and the jobs which are expected to be created as a result. The full project pipeline has been made exclusively available to Copper and above members of Townsville Enterprise.
▶ As an outcome from the force posture changes recommended in the Defence Strategic Review, Townsville Enterprise hosted the North Queensland Defence Industry Infrastructure Working Group. The purpose of the group is to address the challenges associated with the relocation of 500 personnel to Townsville and also support the attraction of defence industry primes to Townsville. Representatives from the working group include the Australian Strategic Policy Institute, Boeing Defence, Port of Townsville, Townsville Airport, James Cook University, Department of State Development, Ai Group, NQ Spark, Oasis Townsville, Australian Missile Corportation and Townsville City Council.
On the horizon for 2024/2025
The launch of Invest Townsville North Queensland, which will be Townsville Enterprises’ concierge investment attraction brand. This will include the delivery of the Invest Townsville North Queensland website and supporting collateral.
We’re really satisfied with what we’re getting out of Townsville Enterprise, they’ve listened and have been really attentive to what we need... they’re supporting us so we’ve got to support them. What they’ve been doing is really good.
- JARROD HURST, MANAGING DIRECTOR OF HURST CONSTRUCTION
Membership
Townsville Enterprise Members are at the heart of everything we do. With more than 320 members and partners, we recognise that it's because of our members that we can be a strong and deliver a united advocacy voice for North Queensland.
Our advocacy wins are the culmination of our members in the business community who work with us to secure the future of this region – one that it so rightly deserves. With the region on one of the biggest growth trajectories in more than a decade, this is a future that business
owners, employees and proud North Queenslanders should be excited about.
Townsville Enterprise regularly seeks input from our Members throughout the year with Member surveys and requests for feedback on various policy platforms.
Following feedback from our Members, we redefined the membership levels, and realigned the benefits for each to better serve the scale of businesses who join us in our vision to secure the future of our region.
This process has allowed us to be more strategic in our outputs. We introduced a Partnership Manager role to support our Members more effectively and personally. We have seen increased attendance at our events with 26% growth across all events, we have more engagement in our communications, with a 106% increase in recipients who receive our communications, and we appreciate
our Members reaching out to us with any news we can share about their business and milestones.
As a result of the announcement of CopperString (a key advocacy project for Townsville Enterprise), we have seen many of our members gain immediate value for their businesses. We have also seen new businesses and organisations come to our region, building workforce
opportunities, and bringing new Members into our organisation. The beauty and diversity of our region was appreciated during our annual team training visit this year to the Charters Towers region. We were welcomed by our members and industry in that region and look forward to 2025 as we explore another part of Townsville North Queensland.
We actively seek partnerships with likeminded organisations that in turn benefit the wider community ... (that’s why) we are excited to be a strategic member of Townsville Enterprise
- A.G. COOMBS
Since being members of Townsville Enterprise we have seen a lot of benefits, a lot of support and why wouldn’t you be a member? Because they support the region so it makes sense to support the people that support our region which then supports us. We are really satisfied with what we’re getting out of Townsville Enterprise, they’ve listened, they’re really attentive to what we need. To anyone who wants to be a member I’d say it’s definitely worth it, look into it we’ve had a lot of benefits they’re supporting us so we are going to support them – what they’ve been doing is really good
- HURST CONSTRUCTIONS
JCU is a very strong partner of Townsville Enterprise (...) the growth of the community is absolutely vital to the long-term sustainability of our university. We’re here for a purpose which is to build and grow the community here in North Queensland, we want to do that in partnership with all the other employers in the region and Townsville Enterprise provides us with the forum where we can both shape and influence the future of this city and region.
- JAMES COOK UNIVERSITY
For visionary projects like Copperstring it is really important to have organisations like Townsville Enterprise who engage and coordinate the vision for the future.
- WINDLAB (ON COPPERSTRING ANNOUNCEMENT)
Events
Over the past year, Townsville Enterprise has successfully delivered a strong calendar of impactful events and forums. Our Secure the Future Series allowed businesses and attendees to take a deep dive into our regions key industry sectors including Tourism, Mining and Critical Minerals, and Green Energy. These insightful events provide a strong platform for Townsville Enterprise to
HIGHLIGHTS:
shape our advocacy commitments, provide strategic networking opportunities for our Members and share updates on the announcements, projects and opportunities that will help shape the future of North Queensland. Townsville Enterprise also hosted the North Queensland Tourism and Events Awards, Annual General Meeting, Budget events with the Treasurer
▶ The return of the Green Energy Forum for 2024.
▶ The inclusion of industry site tours for the Green Energy and Mining and Critical Minerals Secure the Future events.
▶ Member Mixers showcasing our local members including the newly opened Engineering & Innovation Place at James Cook University and recently refurbished Metropole Hotel.
and Opposition and several Business Breakfasts with keynote speakers. We also held monthly Member Mixers across the year, working with our strategic partners to deliver high quality networking spaces for both our Townsville Enterprise Members and non-members. Over the year, Townsville Enterprise delivered 33 events which saw over 2,570 attendees from across the region.
▶ Hosted Professor Peter Dean to discuss the 2023 Defence Strategic Review.
▶ Hosted UK Consul Richard Cowin within region for our April Member Mixer.
▶ Delivered the Suncorp CEO Round table event at the Metropole Hotel.
▶ Hosted the JCU Jet Zero breakfast and aviation committee meeting.
Again in 2024 I have been honoured to MC Townsville Enterprise Futures Forum events. An amazing series showcasing our region with a fantastic lineup of speakers at each event from Green Energy to Tourism and Mining. I pay special tribute to the amazing TEL team behind the scenes who work tirelessly to secure the best speakers and to keep our forums relevant and entertaining and most importantly from my position professionally planned and executed. As a sole business owner and Townsville Enterprise member I am super proud of the brilliant advocacy role that TEL takes on for Townsville North Queensland and look forward to being part of it for many years to come.
- GLENN “MINTY” MINTERN, GM MEDIA
Tourism Development and Trade
With new tourism products and experiences in the region, an ever-expanded offering of international-ready operators, and an airport with international status and capability, the region has a unique opportunity to grow international visitation. Boosting Townsville North Queensland’s international readiness and supporting operators through capacity building programs has continued to be a major priority this financial year.
Trade partner relationships are critical to ensuring that Townsville North Queensland is top-of-mind for travel agents and distributors from across the globe. With help from State Government’s Contestable Funding,
KEY HIGHLIGHTS
Emergence of Luxury
In December 2024, we saw the opening of Ardo – Townsville’s first 5-star hotel, as well as the Pelorus Island Resort. These new experiences have contributed to a significant elevation in Townsville’s luxury offerings and provide exciting new accommodation options for high-value domestic and international travellers.
Global Trade Representation
Townsville Enterprise undertook a significant amount of trade engagement and representation across the financial year with a sales mission conducted in Europe, UK and Singapore, representation at ATEC’s Meeting Place and a Townsville Enterprise led delegation of 13 operators participating in the 2024 Australian Tourism Exchange in Melbourne.
Townsville Enterprise was able to have in-market representation and meetings in Europe, UK and Singapore. More than 300 trade meetings and agent training sessions were conducted across the year and Townsville Enterprise
Cruise Boom
Townsville saw its largest cruise season in history with 18 ships arriving in the last financial year. In addition to the wonderful welcoming activity delivered by the Townsville Enterprise volunteers, Townsville Enterprise attended the Australian Cruise Association Conference –continuing to engage with and sell the region to cruise liners and shore excursion companies globally.
Eco-Certification
In April 2024, Townsville met globally recognised sustainability standards to achieve ECO Destination Certification at the Nature Tourism level with Ecotourism Australia. Townsville Enterprise was proud to support the certification application which was led by Townsville City Council and built upon the foundations of Townsville North Queensland’s Up for Unexpected brand positioning work.
also hosted key travel partners Ignite Travel, Inside Australia, GoWay, Big Red Group and Pan Pacific Travel on familiarisation and product training tours.
Trade Readiness Mentoring
In the lead up to the Australian Tourism Exchange (ATE) 13 local tourism operators completed a Trade Engagement Mentoring Program with Pinnacle Marketing (funded by the Queensland Government). Operators received one-on-one training about the importance of trade partnerships, how to sell their product and the necessary tools required for attending trade shows/sales missions.
Launched Trade Portal
This year Townsville Enterprise launched a Global Trade Portal to support the work done with international ready tourism operators in the Townsville North Queensland region. This Portal is used by Wholesale and Retail Travel Agents to build itineraries and promote our region to the world.
Major Event Acquisition and Support
Townsville has long been the quiet achiever in hosting a calendar of events that engages and excites locals and visitors of all ages and interests. Long-term traditions of muchloved community and civic events, side-by-side in the annual calendar with national and international scale Major Events – together showcase the region, its culture, its liveability, and its opportunities. In partnership with Townsville City Council, Townsville Enterprise launched the 2024-2027 Townsville Events Strategy Blueprint – a strategy to outline a unique and Townsville-built approach to supporting and promoting events.
The 2024-2027 Townsville Events Strategy Blueprint will see Townsville become a highly desired destination for event promoters – a city that's agile and accessible. This
2023/24 HIGHLIGHTS
P!nk
strategy will help Townsville set the benchmark as a regional centre with a nationally significant events calendar that reflects and embraces local and regional communities.
In March 2024, Townsville hosted one of the world’s biggest rockstars –P!nk at Queensland Country Bank Stadium. With not one - but two sell out shows and 65,000 fans descending on Townsville. P!nk saw a $40M injection into the local economy. The city and business community turned pink with an incomparable atmosphere – Townsville certainly got the party started and left a hugely positive impression on the event promoters.
Townsville Enterprise in partnership with Townsville City Council and Tourism and Events Queensland helped to secure P!nk and was a key stakeholder in the promotion of the event and the city activations.
Sporting Championships
Townsville continued to live up to its reputation as the sporting capital of Northern Australia with the Women’s State of Origin, Pacific Championships and NRL All Stars added to this year's calendar. Townsville Enterprise worked closely with event promoters in the lead up to these events to support event promotion and leverage broadcast opportunities to sell the region.
Homegrown Favourites
Townsville North Queensland’s favourite signature events such as the Australian Festival of Chamber Music, North Australia Festival of Arts, Supercars, Professional Bull Riding etc. continued to be front and centre of this year's events calendar and marketing activities.
Last financial year alone, the Stadium has grown patronage – thanks to major events – by 41%, which has contributed over $120 million in economic value to the North Queensland community.
- TOM KIMBALL, QUEENSLAND COUNTRY BANK STADIUM
Completion of this Events Strategy Blueprint did not slow progress in this area however, with the FY24 events calendar one of the biggest the region has ever seen.
Destination Marketing
The Townsville North Queensland region continue to grow and evolve this year, bucking a statewide trend to see growth in holiday visitation numbers and achieving a record OVE of $1.2B. Positive destination awareness continues to increase, with research results indicating Townsville now ranks #11 in Queensland for unprompted holiday destination awareness, moving four places from 2023. Trade and airline campaign activity has also seen a significant increase, up 62.8% YOY for pax bookings into the destination, directly attributed to campaigns delivered by Townsville Enterprise.
HIGHLIGHTS
▶ Over 16,000 visitors were brought to the region as a direct result of marketing and campaign activity, contributing $16M in visitor spend.
▶ Paid campaign assets were seen over 53M times, with hosted media and influencer content reaching over 44.8M people.
▶ Website saw 774,000 total users.
▶ Destination brand uplift results stated that 1 in 5 respondents were considering a holiday in Townsville, with those exposed to the campaign 100% more likely to be in this consideration phase.
▶ 24% increase in Net Promotor Score.
Always-on marketing
To increase the destination’s digital presence and enhance searchability from paid campaign activity, Townsville Enterprise delivered its annual ‘always-on' marketing strategy which consisted of search engine marketing, and content marketing through social media. This strategy has become an integral part of our marketing approach, further stimulating an increase in consumers’ search demand to ensure potential
visitors are consistently served appropriate results and content to support broader awareness objectives. A search engine marketing (SEM) strategy delivered over 384,564 clicks to the website and achieved over 22.6M impressions. Additionally, always-on video content targeted audiences to build retargeting audiences for conversion (sales) messaging. This approach reached over 1.47M people and achieved almost 600,000 video views.
“Come up for Summer” campaign
As Townsville North Queensland entered its first traditional low season post COVID-19 – Townsville Enterprise delivered the “Come up for Summer” campaign aimed at increasing consumer consideration of a ‘summer holiday’ in Townsville North Queensland. Identified in the recent brand research, widespread awareness challenges lie in the perceptions of the region being ‘too hot and humid
to holiday in summer’ or inversely ‘too wet’ - and these perceptions formed part of the tactical brand messaging. To trigger this reappraisal and ultimately drive conversion during this period, the campaign targeted consumers from key source markets of Brisbane, Sunshine Coast, Gold Coast, Victoria and New South Wales using content partnerships with Australian Traveller and Out and About with Kids, and a trade conversion partnership with Travello.
Major event marketing
With the biggest year of major events filling the 2024 calendar, major focus went into delivering supporting marketing activity in partnership with event managers and key funding partners, including Tourism and Events Queensland. Events supported under this model included:
▶ Pacific Championships: 14-15 October
▶ NRL All Stars: 14 February
▶ P!nk Summer Carnival: 22-23 March
▶ Women’s State of Origin: 27 June
Aimed at leveraging earned media coverage and broader paid marketing activity behind each event, campaign activity elevated the destination message across key digital channels including display, electronic mail and social media.
Mates Rates & Cyclone Recovery
Following a difficult start to 2024 after two consecutive cyclone weather events, Townsville Enterprise partnered with the Queensland Government to deliver a 50% off local deal campaign – titled Mates Rates – to drive immediate bookings for tourism operators in Townsville North Queensland. This activity and accompanying public relations blitz also coincided with a broader statewide flight incentive program which saw 50% savings across North Queensland destinations with QANTAS Airlines.
The Mates Rates campaign sold out in 72 hours from launch due to overwhelming demand, delivering over 1,100 pax bookings for local tourism operators. This activity has been able to drive over $1,08M in OVE, and generated media coverage valued at over $6.4M ASR*. Partnerships with Channel 7’s Sunrise and Nomadasaurus reached over 24.15M nationally across broadcast and social media.
ASR = Advertising Sales Rate
COMBINED RESULTS:
▶ Campaign’s social assets have been seen more than 8.6M times
▶ The campaign’s social assets have reached 460,660 people
▶ Generated 114,920 clicks to site
Queensland Tourism Awards – Highly Commended Award: Up for Unexpected
Townsville Enterprise was recognised with a highly commended award at the 2023 Queensland Tourism Awards for our new destination brand –Townsville North Queensland, Up for Unexpected. The submission sighted the significant results the new brand derived in its first year since launching including a 166% increase in destination awareness and 70% of people who saw the campaign acted towards booking a Townsville North Queensland holiday.
PR Media and Influencer Activity
Public relations activity has also formed a key part of the destination marketing strategy resulting in dedicated news features across a number of travel and holiday publications – both online and in print. Kicking this off at the beginning of 2024, Townsville Enterprise attended the International Media Marketplace in Sydney, which saw over 150 travel media and freelance journalists gather for 1:1 meetings, pitching the destination for a year of earned media coverage and famil planning.
From bespoke media hosting famils alone, Townsville Enterprise secured 14 original stories with a media audience reach of over 44.8M, inclusive of 70 operator mentions in print, and 133 mentions on social media. The flow on effect of this content remains with additional editorial pieces organically making their way to top-rated publications like Traveller, Australian Traveller, Escape, Explore, Australian Geographic, QANTAS Insider, and more right across the country. Internationally, we also generated coverage in prominent German and French publications.
In addition to dedicated media famils and editorial features, destination promotion also included influencer famil and content across macro and micro content creator channels. This strategy ensured vision, images and experiences from across our region reach new and engaged audiences – particularly targeting
southern interstate markets of Sydney and Melbourne. Through this approach, Townsville Enterprise secured 20 new content pieces, with a total reach of over 487,000 people, importantly securing over 3,485 points of engagement (shares, saves or comments) indicating interest and intent, and 308,000 impressions.
▶ FINE DINING IN THE TOWNSVILLE REGION
▶ REV UP FOR NTI TOWNSVILLE 500
▶ TOP THINGS TO DO IN TOWNSVILLE
▶ WINTER ESCAPE TO THE TOWNSVILLE REGION
Explore Next Door
Townsville Enterprise launched the annual regional tourism campaign in partnership with Hinchinbrook Shire Council, Charters Towers Regional Council and Burdekin Shire Council. Explore Next Door encouraged locals to adventure close to home and explore our beautiful regions that are right next door. Timed to align with the June/July school holidays, the
campaign included targeted social media, radio promotions and online blog content. The campaign social assets reached 9,088 people, and were seen 9,637 times, with activity increasing uplift in organic search to site by 18.06% and 20% uplift in organic socials pointing to the campaign landing page.
Ticket to Unexpected Campaign
Cementing the region as the events capital of the North, Townsville Enterprise delivered its major campaign of the year – Ticket to Unexpected – which aimed to build awareness of the destination through major events and encourage an increased length of stay and spend through holiday attractions and experiences in Townsville North Queensland.
Leveraging the awareness growth from last year’s destination brand launch - Up for Unexpected - this digital-led campaign aimed to highlight the diverse and
exciting array of events planned for the year and continue to leverage our distinct surprise and delight factor. Building on brand awareness garnered from the brand launch in 2023, the campaign targeted consumers from key source markets of Brisbane, Sunshine Coast, Gold Coast, Victoria and New South Wales using content partnerships with We Are Explorers, and a highly digital marketing mix – including social media, catch-up TV, billboards and programmatic display. Results from this campaign delivered over 28,542 clicks to site, with assets seen over 4.3M times.
Ticket to unexpected
Get your ticket to the hottest events, unwind with the coolest experiences – holiday with the best of both worlds in Townsville North Queensland. Your ticket to unexpected awaits.
Museum of Underwater Art
▶ Respondents who were exposed to the campaign were 20% more likely to rank Townsville as an unprompted holiday destination in Queensland.
▶ 55% (one in two) felt more positive towards Townsville North Queensland after seeing the campaign.
▶ Those exposed to the campaign were 225% more likely to have travelled to Townsville North Queensland in the last 12 months, holding market share.
▶ 1 in 5 respondents are considering a holiday in Townsville North Queensland, with those exposed to the campaign 100% more likely to be in this consideration phase.
▶ Those exposed to the campaign were +38pts more likely to recommend Townsville North Queensland to family and friends compared to those who were not exposed suggesting the campaign messaging resonated with the target audience.
▶ Promoting events as the driver for holiday travel, the campaign drove significant increases in respondent intention to attend all listed events (most notably, those who selected ‘None of these’ has reduced by -19%).
▶ 76% of those who recall the campaign did something as a result (Considered as a holiday destination, spoke to family and friends, research Townsville North Queensland further, booked a holiday and visited)
Tactical Campaigns
Leveraging awareness driven by supporting marketing activity, Townsville Enterprise and Queensland Airports partnered to deliver several tactical campaigns with airline partners – Jetstar, Virgin Australia, Bonza Airlines, and online travel agencies, Webjet, Ignite Travel and Travello. These campaigns drove direct
Queensland is
Bluey’s
World for Real Life – featuring Townsville North Queensland
results and increased passenger numbers to the region across all airlines and ports. Across all trade and tactical campaign activity, assets reached over 7.9M people and generated over 10K clicks to site. Importantly, this activity also secured an additional 16,266 passenger bookings, driving over $16M in OVE.
▶ Dedicated ads running on Queensland. com and social channels featuring Townsville and Magnetic Island.
In June 2024, Tourism and Events Queensland launched the biggest campaign in more than a decade, partnering with global phenomenon Bluey, to encourage visitors from around the globe to visit Queensland, and Townsville North Queensland had a starring role. To launch, a statewide PR activation saw groups gather to play an Australian Book of Record-breaking game of Keepy Uppy - in Townsville North Queensland the game was played at various locations to show off the best of the region. The campaign targeted families across Australia, New Zealand, the United States, the United Kingdom, Japan and Singapore, with Townsville North Queensland featured throughout the campaign, driving inspiration to visit Bluey’s home state and working together with several significant trade and aviation partners to drive bookings – including Qantas Group, Expedia Group, the Flight Centre Travel Group and Accor Group. How Townsville North Queensland featured:
▶ Filmed bespoke content for the global PR activation which saw content featured as part of the TEQ news release.
▶ Local operators were also involved in launch activity, with clips from their business featured on Townsville North Queensland channels.
ON THE HORIZON FOR 2024/2025
With growth in destination awareness for Townsville North Queensland, Townsville Enterprise remains committed to delivering an ongoing marketing calendar which elevates the region as a holiday destination of choice for future travellers. While a focus will continue on building awareness and shifting perception, there will significant attention also put toward trade partnerships which will broaden audiences and support industry during key booking periods.
Investing in and supporting tourism is essential to Townsville’s economy and the region’s future growth. We’re proud to partner with TEL and support their work in showcasing North Queensland as a world-class tourism destination. TEL’s marketing campaigns have helped to expose Townsville to new tourism markets benefitting both the region as a whole and tourism businesses like ours. We look forward to continuing to work with TEL to further promote everything the North Queensland region has to offer to visitors.
- KIMBERLEY WILKINSON, THE VILLE RESORT CASINO
Liveability and Workforce Attraction
With the region’s historic $30B+ pipeline set to deliver extraordinary growth for the city, it also demands an additional 20,000 new skilled workers to fulfil project requirements right across the North and Northwest. In response to feedback from industry, Townsville Enterprise embarked on phase one (research) to develop a liveability campaign platform for Townsville, partnering with key employers including Townsville City Council, Powerlink | CopperString, Port of Townsville, Townsville Catholic Education, James Cook University and Bravus Mining & Resources.
FY24 delivered an in-depth research project to understand market trends, and unique positioning of Townsville as a top relocation destination amid a cluttered labour market.
The research approach which analysed over 15,000 data points was:
▶ Research
▶ National data review
▶ Digital Intelligence Review
▶ Online Community
▶ Value Proposition with Steering Committee
▶ Big Qualitative Survey and Message Testing
▶ Market Segmentation
▶ Benchmark Testing
Fundamental learnings were garnered from this research, incorporating national psychographic research by The Lab Insight and Strategy, and bespoke focus group engagement with
potential relocators and new residents to Townsville. Key findings which have shaped the creative campaign platform include:
▶ 1 in 5 metro population considering a shift regional
▶ 50% believe the Australian dream is not achievable
▶ 83% making changes to spending due to cost of living
▶ 77% of Potential Relocations surveyed said they were considering a move in the next 3 years, but don’t have any concrete plans or locations
▶ 23% are actively planning a move in the next 3 years (destination may be decided/undecided)
▶ 75% of Potential Relocators had travelled to Townsville in the past 2 years, making them +7% more likely to have Townsville on their top preference list
From this research, and analysing our region’s key motivators, the brand platform – The Good Life was created. This messaging is centred around the drivers of regional relocators and elevates the prosperous career pathways, coupled with the benefits of the North’s enviable coastal lifestyle.
Liveability and Brand Promise
The world has changed, and with it, you – Australia - are rethinking what it means to live the good life.
Slowing down to feel connected, releasing the pressure to choose balance, leaving behind what no longer serves you to embrace new.
Townsville too is a place that’s embracing change, quietly transforming with a vision for the future, redefining what it means to live life in full colour.
A place where the best of both worlds is a reality. A place of AND, not OR. Make it in a career of the future, AND live a life of freedom, where slowing down AND living it up is possible, where natural wonders AND world-leading innovation coexist, where disconnecting leaves you feeling connected AND opportunities abound. That’s the good life.
Good connection | Good size | Good environment | Good progress | Good fun
Live life without compromise — shape your future, not be swept along by it — live with purpose, live with balance. Live the good life, in Townsville – home of the good life.
Designated Area Migration Agreement (DAMA)
23/24 SUMMARY
Townsville Enterprise is the Designated Area Representative for the Townsville North Queensland Designated Area Migration Agreement (TNQ DAMA).
The TNQ DAMA is a formal agreement between the Australian Government and Townsville Enterprise. It provides business owners who have exhausted local recruitment options access to overseas workers, providing flexibility and responsiveness not available through the standard skilled migration programs. Since 1 July 2023 we have endorsed 70 applications for 253 positions within the TNQ region. We have 42 occupations included in our DAMA which are not on the skilled migration listing. There are also numerous occupations with a permanent resident pathway, age concessions up to 55 years, and English concessions.
On the horizon
With the Federal Government undertaking a migration review, Townsville Enterprise will be making submissions to the review publication to ensure migration for our region remains fit for purpose. Townsville Enterprise will also be hosting information sessions on DAMA and any changes to migration that may affect our members and region.
Visitor Services
Townsville Enterprise's volunteer team serves as the welcoming face of Townsville North Queensland, providing vital visitor information services through the Visitor Information Centre, and coordinating welcome activities for events and cruise ships. This year, the Townsville Visitor Information Centre welcomed over 20,000 visitors, marking a significant increase of 27%, and facilitated more than $230,000 in bookings for local tourism operators and businesses.
During the cruise season, the volunteers greeted approximately 10,000 passengers and up to 7,000 crew at the Quayside Terminal pop-up Visitor Information Centre. Our invaluable volunteer service includes sharing local knowledge, recommending tours, and highlighting attractions. Cruise passengers consistently provide positive feedback, praising the friendly and helpful welcome they receive, both at the Port and from the team greeting them in the city.
The Visitor Centre is staffed by approximately 65 volunteers and
2023/2024 HIGHLIGHTS
▶ Awarded silver at the Queensland Tourism Awards for Outstanding Contribution by a volunteer or volunteer group.
▶ 1,400+ visitor interactions during each school holiday pop-up at the Sealink Terminal.
▶ 10,000 cruise passengers and 7,000 crew welcomed at Quayside Terminal
two Tourism Officers, operating 50 hours per week at our central location in Flinders Street.
In addition to their work at the permanent Visitor Information Centre on Flinders Street, our volunteers staffed pop-up information stands at major events throughout the year, including the Supercars, Townsville Eco-fest, Defence Open Day, and Seniors Expo. They also played a crucial role in advocating for the Great Barrier Reef Aquarium, collecting signatures during
15 appearances on the Strand and at local markets. During school holidays, they operated a pop-up location at the Sealink Terminal, engaging with approximately 1,450 visitors each school holiday period as they travel to and from Magnetic Island.
In recognition of their outstanding contributions, the Volunteer Tourism Ambassadors were awarded silver in the Queensland Tourism Industry Awards for Outstanding Contribution by a volunteer or volunteer organisation.
▶ Volunteers participated in monthly familiarisation events, ensuring up-to-date knowledge of local attractions, including Sealink Whale Watching, ARDO and the Museum of Underwater Art.
▶ In April 2024, 26 volunteers and staff attended the VIC Volunteer Conference in Ayr, enhancing their skills and knowledge.
▶ Celebrated volunteers week with a reception at The Metropole Hotel, where each volunteer received a certificate of service award.
▶ Volunteer attendance at our Member Mixer events.
▶ Promoting and attending P!nk concert.
Welcoming arrivals from cruise ships
Local information at the Supercars
Defence Open Day
The welcome is a crucial part of the overall experience for cruise ship passengers and the TEL Volunteers are always on hand to provide great advice and a friendly face to the visitors of our city. Survey feedback from passengers about their experience when disembarking in Townsville is outstanding.
SARAH MATHIESEN ACTING MANAGER STRATEGY & EXTERNAL AFFAIRS PORT OF TOWNSVILLE
Excellent team at the information centre. Great fun and full of information on places to see and things to do. I will definitely be back to see the attractions.
CAROLINE LOVETT GOOGLE REVIEW
For over a decade the Townsville Enterprise (TEL) volunteers have worked tirelessly with SeaLink North Queensland to promote our services. They have helped provide a welcoming experience for visitors at our Breakwater Terminal as well as promoting our ferry services and North Queensland Adventure Tours through the Visitor Information Centre and the pop up events.
KATIE LORD MARINE OPERATIONS MANAGER SEALINK NORTH QUEENSLAND
I enjoy sharing my local knowledge of the city and surrounds with visitors and assisting them with organising their itinerary while visiting. It is enjoyable to meet people from different countries and areas of Australia. Working in the Visitor Centre gives a purpose to my day as I enjoy attending famils with other volunteers and learning about our new products and operators. It is wonderful to meet new volunteers, and the Visitor Centre has a lovely work environment.
KAREN GLAZEBROOK VOLUNTEER, 11 YEARS
Future Leaders Program
The Townsville Enterprise North Queensland Future Leaders Program educates the next generation of regional leaders on the issues, opportunities, and challenges impacting Townsville North Queensland. The program is a succession plan for the region, ensuring the skills, knowledge and talent within Townsville North Queensland are retained and developed.
The 2024 North Queensland Future Leaders Program was launched in partnership with program sponsor Queensland Country Bank in January 2024. The application process saw the program oversubscribed and narrowing down to the 15 participants for this cohort was difficult. The program commenced with an orientation day designed to equip the participants with the necessary skills to realise the best outcomes from the program. Over the eight-month program schedule the group participated in exclusive
The Future Leaders Program has been an amazing experience for me. It has provided in-depth insights into the challenges and opportunities shaping our region and each module has provided insights into key industry players in our community. The Health and Innovation Module day was one of my favourites, as we were provided practical knowledge that we could take back to our respective business sectors. Building relationships with local business leaders, and with my mentor Roxanne Grey, was especially valuable for my personal and professional growth. This program has not only equipped me with the skills to contribute to our region’s future but also inspired me to take an active role in shaping it!
I want to extend my sincere thanks to Karen and the team at Townsville Enterprise for bringing back this incredible program.
- EMMA MOONEY, 2024 FUTURE LEADERS PARTICIPANT
behind-the-scenes tours, boardroom briefings, and special events. They also engaged in learning sessions led by experts across various economic sectors each vital to our region’s prosperity:
▶ Module 1: Transport, Logistic and Defence
▶ Module 2: Green Energy
▶ Module 3: Tourism, Events and Sports
▶ Module 4: Skills, Training and Education
▶ Module 5: Mining and Critical Minerals
▶ Module 6: Agriculture and Water
▶ Module 7: Health and Innovation
I have really enjoyed my time in the Future Leaders Program. As someone who is relatively new to Townsville, I cannot downplay how beneficial the program has been in enabling me to get to know the city, its many industries and the incredible people that live and work here. The opportunity to network, meet and interact with these people has been invaluable on both a personal and professional level. Having a one-on-one mentor who aligns with my goals has been so enlightening and a resource that I value immensely. I am extremely lucky to have been with an amazing group of Future Leaders and the connections we have made will no doubt continue into the future. Thanks TEL for being the organisers of such a fantastic program!
- AMY DORLING, 2024 FUTURE LEADERS PARTICIPANT
Beyond the module days, the mentoring component of the program fostered meaningful connections and supported the participants’ career goals through interactions with some of our region’s most esteemed leaders and business owners.
Without the support of our mentors, industry partners and program sponsor, we would not have been able to deliver this program, providing opportunities for our Future Leaders to learn and be guided by the best in our region.
The North Queensland Future Leaders Program gave me an exceptional insight into the region’s economic landscape, opening my eyes to industries outside my own. It made me grateful for the region we are in and showed that opportunities for professional growth are available without having to relocate to major city centres. Townsville Enterprise assembled a fantastic cohort of Future Leaders, all bringing unique insights from their lines of work to contribute to the program’s delivery. A big thank you goes to all the businesses, leaders and mentors that contributed their time and knowledge to ensuring a successful and engaging program. I’d advise anyone in the region with a view of leading – this program connects you with the right people and the right information to be make a difference in the future of the region!
- CONNOR MCKAY, 2024 FUTURE LEADERS PARTICIPANT
NQH2
The Townsville Enterprise led North Queensland Hydrogen Consortium (NQH2) continued to go from strength to strength in FY24, with national interest in the consortium growing. NQH2 was invited to provide updates at both the Smart Energy Council’s conference and the Hydrogen Connect Summit this year.
Projects being undertaken by two founding members of NQH2 reached milestones this year:
▶ Ark Energy’s SUN HQ phase 1 broke ground in November 2023. Phase 1 will see a 1 megawatt facility that will produce renewable hydrogen from the co-located Sun Metals Solar Farm. Phase 1 of SunHQ will have a production capacity of 155,000kg of green hydrogen p.a.
▶ Edify Energy Pty Ltd (member of NQH2 & TEL) was a successful applicant in the Townsville Hydrogen Hub funding. This funding will see the delivery of a green hydrogen production facility at Lansdown, initially supplying domestic customers and moving on to export markets. The project “EGH2” involves the deployment of a 17.6 MW Siemens Energy electrolyser with 21 MW solar PV integrated behind the meter to produce renewable hydrogen for domestic industrial and transport applications. The project is the first stage of a planned 1 GW green hydrogen production facility that will export hydrogen globally through the Port of Townsville.
ON THE HORIZON FOR 2024/2025
Townsville Enterprise is undertaking community engagement work to build awareness & positive engagement for the emerging hydrogen industry in the region, as well as facilitating the development of new skills and training opportunities for the North Queensland Community.
In 2025, North Queensland will host its first Hydrogen Grand Prix, a secondary school learning program. CQ University is partnering with Townsville Enterprise and Horizon educational to deliver this activation.
Townsville Enterprise will be representing NQH2 at the APAC Hydrogen Summit being held in Brisbane in September and will host potential investors into the region with industry site tours.
Convention Bureau
Over the past year, the Townsville Enterprise Convention Bureau has played a significant role in promoting Townsville North Queensland as a premier destination for conferences, meetings and events. With a consistent focus on showcasing the region's unique offerings, the Convention Bureau team collaborates closely with local stakeholders, businesses, and venues to attract state and national level business events.
AIME
In February 2024, the Townsville Enterprise Convention Bureau was represented at Melbourne for the annual Asia Pacific Incentives and Meetings Expo (AIME). This event is the nation’s largest trade expo, where the team met with professional conference organisers to attract business events and incentive programs to our region. The team met with over 35 conference organisers from across the country, Asia and New Zealand to showcase and advocate for all Townsville North Queensland has to offer.
The Townsville Convention Bureau stands as a trusted advisor and advocate for organisers seeking an ideal setting for successful and memorable events in the Townsville North Queensland region and engaged with 14 conference and business event bids across the financial year.
Famils
Townsville Enterprise Convention Bureau hosted two famil tours across the financial year to showcase Townsville North Queensland as a potential business events and conference destination. The groups saw event and conferencing spaces, dinning and restaurant options (including our first 5-star accommodation – Ardo), various off-site venues, whilst enjoying some of the best tours and attractions Townsville and Magnetic Island has to offer. Famil guests also witnessed events in action attending the history-making Game III of the NRLW State of Origin. Following these famils, the region secured an interstate medical conference in May 2025 with the Australian College of Midwives, with plans to “stay and play” in North Queensland pre and post conference next calendar year.
I spent three days with the Townsville Enterprise Convention Bureau team, and they were nothing short of fabulous! – professional, friendly and organised. It was evident that an immense amount of thought and time had gone into organising the familiarisation tour, and I visited a great range of locations, venues, tourist operators and suppliers within a region I had never placed on my event planning radar. A memorable moment of the tour was our trip over to Magnetic Island, and the afternoon sail with Clayton and the team from Pilgrim Sailing; I had no idea that such luxury was only a 20-minute ferry ride in North Queensland
- GABRIELLE EARLS, AUSTRALIAN COLLEGE OF MIDWIVES
Marketing Campaign
I had an amazing time on my recent famil to Townsville. The trip was thoroughly planned and hosted, and everyone was incredibly friendly and welcoming as they showcased all that the area has to offer. Every detail was covered, and the hosts provided knowledgeable and detailed answers to all our questions. The trip was particularly beneficial because all the venues took the time to understand our needs as a PCO and were willing to work with us to meet our requirements. I especially enjoyed visiting the Stadium, Flinders Lane, and the sail on Magnetic Island and I will definitely be recommending the venues I saw to my colleagues for future conferences
- LIANNA RIZK, ASN EVENTS
Throughout the year Townsville Enterprise delivered various marketing campaigns to raise awareness of the Townsville Enterprise Convention Bureau. The team officially launched a website purely dedicated to the Convention Bureau, housing a range of channels to the Bureau’s preferred suppliers, entertainment, MC’s, restaurants and bars, plus example itineraries and pre & post incentive trip proposals, making planning an event or conference in Townsville, the easiest it has ever been. The Bureau also engaged with MICENET Business and Tourism Publishing and published several sponsored content packages within their publication to further the awareness of business events and conferences in North Queensland.
OUR MEMBERS AS AT 30 JUNE 2024 Membership
LIFE MEMBERS
Alison Ferry
Em Prof Edward Scott (Vale)
Geoffrey Plante
Graham Jackson OAM (Vale)
Greg Peel
John Bearne
Laurence Lancini
Tony Mooney AM
PRINCIPAL PARTNER
Townsville City Council
MAJOR PARTNER
Tourism Events Queensland
Townsville Airport
PLATINUM MEMBER
News Corp Australia
Southern Cross Austereo
Bravus Mining & Resources
REGIONAL COUNCIL PARTNERSHIPS
Burdekin Shire Council
Charters Towers Regional Council
Hinchinbrook Shire Council
Palm Island Aboriginal Shire Council
STRATEGIC MEMBER – GOLD
Flinders Shire Council
Glencore Copper
James Cook University
Port of Townsville Limited
Powerlink
Sun Metals Corporation Pty Ltd
SunCorp
STRATEGIC MEMBER – SILVER
Ergon Energy Network
Queensland Pacific Metals Ltd
Australian Radio Network
Pickering Group of Companies
The Ville Resort Casino Townsville
STRATEGIC MEMBER – COPPER
A.G. Coombs Pty Ltd
ANZ Banking Corporation
Ark Energy
Davco Farming
Edify Energy Pty Ltd
GHD Pty Ltd
Hurst Constructions Queensland
KPAT Hotels & Pubs
MMG Limited
Pacific Marine Group Pty Ltd
SMEC Australia
TAFE Queensland
Townsville Hospital and Health Service
Wilson Ryan Grose Lawyers
STRATEGIC MEMBER – BRONZE
Australian Institute of Marine Science
BMD Construction
Boeing Defence Australia Ltd
Commonwealth Bank
Cubic Defence Australia Pty Ltd
DGH ENGINEERING PTY LTD
Exante Management Pty Ltd
FGH Group
Future Renewable Vision (FRV)
Gabrielli Constructions Pty Ltd
Gallagher Insurance Brokers
Helix Legal
Horan & Bird Energy Pty Ltd
HyNQ
Iberdrola Australia Limited
Incitec Pivot Limited
Lendlease
Mater Hospital and Health Service
North Queensland Gas
Pipeline No. 1 Pty Ltd
Origin Energy
Pacific Biotechnologies
Private Energy Partners - Quinbrook
QEM Limited
Queensland Country Bank
Ravenswood Gold Pty Ltd
SeaLink Queensland Pty Ltd
South 32
Stadiums Queensland
TEi Services Pty Ltd
UGL Townsville
Wandarra
Watpac Construction Pty Ltd
Windlab Development Australia Pty Ltd
Wulguru Group
MacKellar Mining Pty Ltd
Eagle Drilling NQ Pty Ltd
AEC Group Pty Ltd
Peel Valentine Whitehead PVW
CONNECT MEMBER – MEDIUM
ARC - The Australian Reinforcing Company
At One Bright Point Pty Ltd
Carey Group
Colliers Townsville Pty Ltd
Cowboys Leagues Club Ltd
Cowboys Rugby League Football Limited
CPB Contractors Pty Ltd
Delta Office Solutions
Gripfast Consulting Pty Ltd
ITHG Pty Ltd
Keir Steele Waldon Lawyers
KPMG Australia
Lancini Property Group
Post Office Brewing Pty Ltd
SLR Consulting Australia Pty Ltd
St Hilliers Contracting Pty Ltd
Wulguru Technical Services Pty Ltd
Ethan Global Pty Ltd
Findex
Honeycombes Property Group
Townsville Turf Club
Vecco Electric Pty Ltd
Wilmar Sugar Australia Limited
CONNECT MEMBER – SMALL
Burdekin Motors
Burdekin Theatre
City Vehicle Services
Community Information
Centre Townsville Inc
Finance King
Nautilus Aviation - Colonial Leisure Group
Orpheus Island Lodge Resort
- Colonial Leisure Group
Perc Tucker Regional Gallery
Pickerings Auto Group
Quayside Terminal
SIXT
Townsville Auto Group
Townsville Stadium
TYTO Wetlands Information Centre
Yurika
GM Media
Sci Qual International Pty Ltd
TP Human Capital
FortisEM Group Pty Ltd
MAK Media Australia Pty Ltd
Sherdon Harvesting
AECOM Australia Pty Ltd
Aligned Corporate Residences Townsville
ALLROADS Pty Ltd
Amaroo on Mandalay
AON Risk Services
Australian Professional Galvanizing
Brothers Leagues Club Townsville P/L
Castletown Shopping World
Cate’s Chemist
Connolly Suthers Lawyers
Copiers Excellence (Townsville)
Coral Coast Tourist Park
Core Developments NQ PTY LTD
Coutts Redington Pty Ltd
CQ University
CQG Consulting
Designer Life
Dexus
Discovery Parks Pty Ltd
Ede Events
Edmund Rice Education Australia
Goodstart Early Learning
HIF Asia Pacific
Hotel Grand Chancellor
Iconic Hospitality Pty Ltd
Jet Zero Australia Pty Ltd
Knight Frank Townsville
Lamont Sign Solutions
Magnetic Island Ferries
Magnetic Island Tours (Ulendo)
Maidment Development Group Pty Ltd
Markwell Group
Martin Locke Homes Pty Ltd
McDonald’s Parcorp Group
Mercure Townsville
Minelec Pty Ltd
Morgans Financial Limited
Museum of Tropical Queensland
NGH Consulting
Nomads Magnetic Island
Northern Conquest Charters Pty Ltd
NPS Corporate
Optimise Health and Wellness
O’Regan & Partners Townsville - Integrity
Accounting and Taxation Services
Ornatas Pty Ltd
Otto’s Fresh Food Market
Pacific Islands International
Paronella Park
Peppers Resort - Magnetic Island
Premise
Prizm Engineering Pty Ltd
Quest Townsville on Eyre
Reef HQ Great Barrier Reef Aquarium
Rider Levett Bucknall Qld Pty Ltd
RMS Engineering & Construction
Rockfield Technologies Australia Pty Ltd
Rydges Southbank Townsville
Scyne Advisory
Simon George & Sons
Skytrans
Sunbus Townsville
The Digimen
The Park Motel
Townsville Sports Precinct
Townsville Aboriginal & Islander Health Services
V8 Supercars Australia Pty Ltd
Wagners Holding Company Limited
CONNECT MEMBER – MICRO
AAA+ Financial Solutions
AB & SJ Hinks T/A Aquascene Charters
Adrenalin Snorkel and Dive
Aquarius on the Beach
Australian Airport Lighting Pty Ltd
Beach House Motel
Big Mama Sailing
Billabong Sanctuary
Brazier Motti Holdings Pty Ltd
Breakwater Marina
Bridgewater Restaurant
Budd Photography
Built Tuff Industries Pty Ltd
Burdekin Rum / Mt Elliot Springs
C Bar Holdings
Cactus Jacks Restaurant
Campbell Scientific Australia
Charters Towers Tourist Park
City Oasis Inn
Cleveland Bay Chemical Company
Coconut Glen Van Park
CRC for Developing Northern Australia Ltd
Dendra Systems
Detour Coaches
DGL Townsville Pty Ltd
EMU Sportswear
Epic Environmental Pty Ltd
FTEC Electrical Pty Ltd
Gallivanter Travel
Get Branded
Goldtower
Grand Hotel Townsville
Great Northern Laundry
Herveys Range Heritage Tea Rooms
Hidden Valley Cabins and Tours
In Spades Marketing
Inland Oasis Motel
J.A Wilson & P.J Wilson - Trike It Like It
Jewellery By Design
Kordamentha
Magnetic Island Sea Kayaks
McGill Family Trust - Arcadia Village
Menninger Capital
Milupa Pty Ltd
MM Consulting Old Pty Ltd Grandmas
Mungalla Aboriginal Corporation
Murdering Point Winery
NQ Cycle Journeys
Oasis Lifestyle Village Pty Ltd
- Townsville Eco Resort
Pilgrim Sailing Pty Ltd
Rambutan Townsville
Regional Economic Advisory
Ruswin Locksmith & Security
Safetyhut Pty Ltd
Selina Operation Magnetic Island Pty Ltd
Sling & Stone
St Patrick’s College Townsville Limited
Tan Lines Distilling
Texas Longhorn Tours
TICS Group
Townsville Catholic Education
Townsville Gateway Holiday Park
Townsville Helicopters
Townsville Motor Boat and Yacht Club Ltd
Tropical Palms Resort & 4WD hire
Wambiana Station
Watermark Townsville
WIld Local
Woollam Constructions
Yongala Dive
Advantage Project Solutions
Australian Renewables Academy Pty Ltd
BD Clarke Pty Ltd
Brighter Super
Clontarf Foundation
Cohen Legal
Corpay
Flinders Street Wharves Pty Ltd
FNQ Adventures PTY LTD
GKL Group Pty Ltd
Hansen Engineering Group
Membership
Intract Australia
Investor Support
Kelly Accomodation Holdings - Big4
Aussie Outback Oasis Holiday Park
Kernow
Liddle’s Air Service Pty Ltd
Magnetic Island Roaming
Signature Staff
SMAC
Smart Precinct NQ
Steele Project Strategy and Advisory
Study Townsville
Sublime Experiences
SV Partners Pty Ltd
Tasman Holiday Parks
The Austrans Group
The People & Culture Link
Vacatio Australia Pty Ltd
Workforce Abundance Pty Ltd
Ericks and Fredericks International
Consulting Pty Ltd
Townsville Adventure Tours
Faraday’s Trading Pty Ltd
Limitless Films
COMMUNITY MEMBER
Australian Festival Of Chamber Music
Bowen Gumlu Growers Association
Cathedral School of St James & St Anne
Colin Harkness
Commerce North West Inc
Crikey Trikey Joy Rides
Dolan Hayes
Drive It NQ Pty Ltd
Grey and Grey
J Allison Johnston
Joseph O’Brien
Magnetic Island Koala Hospital
Michael Spearman
Museum of Underwater Art Ltd
Pinnacles Gallery
Scott Stewart
Scott Verrall
selectability
Tec-NQ
Umbrella Studio
Zephenias Healthcare Services
RECIPROCAL
Ayr Chamber of Commerce Inc
Charters Towers Chamber of Commerce and Mines Inc
Gulf Savannah Development Inc
Hinchinbrook Chamber of Commerce
Industry & Tourism Inc
Housing Industry Association
Mount Isa to Townsville Economic Development Zone Inc (MITEZ)
Property Council of Australia
Q.I.T.E
Queensland Renewable Energy Council
Queensland Resources Council
Queensland Trucking Association
The Home Hill Chamber of Commerce
The North Queensland Club
Townsville Chamber of Commerce
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Townsville Enterprise Limited
DIRECTORS REPORT
The Directors of Townsville Enterprise Limited present their report together with the financial statements of the entity, For the Year Ended 30 June 2024 and the Independent Audit Report thereon.
Directors Details
The following persons were Directors of Townsville Enterprise Limited during the whole of the financial year and up to the date of this report unless otherwise stated.
Kevin Gill Appointed 26/05/2008
Jenny Hill Appointed 25/05/2012 – Resigned 28/03/2024
Simon Biggs Appointed 23/05/2023
Joe Carey Appointed 11/02/2011
Ranee Crosby Appointed 15/05/2014
Peter Duffy Appointed 29/11/2023
Kathy Danaher Appointed 28/05/2019
Jamie Fitzpatrick Appointed 19/02/2020
Michael Jones Appointed 20/06/2018
Moya Steele Appointed 21/10/2015 – Resigned 29/11/2023
Peter Wheeler Appointed 10/04/2021
Principle Activities
The company’s principle continuing activities during the year consisted of the promotion of tourism and economic development in North Queensland. Review of Operations
Comments on the operations and the results of those operations are set out below:
▶ Operating revenue for the year ended 30 June 2024 $4,738,329 (2023: $4,352,828)
▶ Operating surplus/(deficit) for the year ended 30 June 2024 $199,327 (2024: $142,303)
Developments and Expected Results of Operations
This financial year Townsville Enterprise moved focus and efforts away from the pandemic recovery into strategic projects and advocacy to support the region’s future growth and prosperity. Whilst skills shortages, housing challenges have dominated the conversation throughout the year, the region also experienced some exceptional outcomes with more than $2.5 in investment secured, record overnight visitor expenditure and the launch of the regions first Regional Growth Plan. Townsville Enterprise has returned a positive financial result, largely due to diversification of revenue generation, strong membership and the finalisation of the Hells Gates Dam grant acquittal.
Advocacy
In FY24, advocacy remained at the core of our organisation. We saw a reshuffled State Government and a newly elected Local Government following the March elections. Our efforts took us to Canberra in November 2023, where we secured 16 meetings over two days. In February 2024, we hosted a delegation to Brisbane and secured 20 meetings,
presenting our “Unlock the North” document, which outlines the region’s key priorities for securing its future. Deputy Prime Minister and Minister for Defence Richard Marles MP announced significant changes to the Army structure, establishing Townsville as the Defence Capital of the nation. All major recommendations from the Joint Townsville Enterprise and TCC Strategic Review Submission have been incorporated which led to a $1.2 billion investment announcement. From 2025, Townsville will host all the Army’s heavy armour and half of its helicopters, resulting in at least 500 additional personnel relocating to the area, adding to the existing 4,000-strong military presence.
The world’s attention is turning to the North, and Townsville North Queensland can deliver on it’s potential as Australia’s most liveable green manufacturing city. Ark Energy’s SunHQ hub received a $5 million grant from the Queensland Government and a $3.02 million grant from the Australian Renewable Energy Agency (ARENA). Additionally, the Clean Energy Finance Corporation (CEFC) has committed up to $12.5 million to support Ark Energy in delivering SunHQ, making it the first hydrogen project to be jointly supported by ARENA and CEFC.
The Polysilicon Manufacturing Facility has secured a site at the Lansdown Eco-Industrial Precinct, marking it as the only facility of its kind outside China. The Mater Private Hospital received $25 million for infrastructure expansion, and the Queensland Premier announced an additional $700 million to fast-track the CopperString project.
Premier Steven Miles committed $35 million to kickstart the development of Townsville’s North Rail Yards. This investment will go towards remediation works and the stabilisation of heritage infrastructure to ensure the North Rail Yards are shovelready. The North Rail Yards project will be the first build-torent development in regional Australia. This high-density living provides an opportunity to attract highly skilled workers to the region, offering a variety of amenities and lifestyle benefits.
With a vacancy rate below 1% and an estimated 20,000 ongoing and construction jobs by 2029, North Queensland’s housing stock is under significant pressure. Our advocacy for this project and securing the investment needed will ensure Townsville North Queensland can attract the workforce required for major projects like CopperString, hospital upgrades, advanced manufacturing, and aviation.
As we approach the State Election in October, we will continue to develop understanding and build relationships with the government to ensure the success of our future advocacy campaigns.
Tourism and Events
Year Ending March 2024 National Visitor Survey saw the Townsville North Queensland Tourism sector reach new records, recording a record Overnight Visitor Expenditure (OVE) of over $1.2B and increasing holiday visitation from both intrastate and interstate markets by 3.1%, the only region in the State to achieve domestic holiday visitation growth for this period. International visitation is still in recovery, sitting at 83% recovered for OVE and 90% recovered for visitor numbers. Despite this the region did see strong and growing visitation from the UK and record numbers from Asia.
Townsville Airport saw positive increases in capacity and traffic across the year as well. The FY24 year saw the official opening of Townsville’s first 5-star hotel Ardo, changing the face of luxury experiences for the region.
The Townsville North Queensland destination brand continued to strengthen this year, with events being a prominent feature in this year’s major brand campaign. Across all campaign activity throughout the year more than $16M in visitor expenditure was secured for the financial year and campaign assets reached almost 10 million people.
Whilst overall the region saw strong visitor numbers, summer was a challenging period for many operators following the perceptual and media concerns caused by Cyclone Kirrily. In partnership with Tourism and Events Queensland, Townsville Enterprise delivered a recovery campaign driving locals to holiday locally. More than 1,100 pax bookings were secured with the 50% discount campaign selling out in less than 72 hours. More than $8M worth of media coverage was also secured for the region to shift perceptions and let visitors know Townsville North Queensland was again open for business.
To support our regional councils in driving intraregional visitation out of Townsville, Townsville Enterprise delivered the Explore Next Door Campaign. Profiling Burdekin, Hinchinbrook, and Charters Towers across social media, print and radio to build awareness of regional tourism offerings.
Building Townsville North Queensland’s international capacity has been a big focus for Townsville Enterprise this year, with funding secured through Tourism and Events Queensland contestable funding. Townsville Enterprise provided operators international readiness mentoring and took a delegation of 12 trade ready operators to the Australian Tourism Exchange. In market representation and meetings were also with key travel and trade partners domestically and in Europe, UK, and Singapore. More than 300 trade meetings and agent training sessions were conducted across the year.
Townsville Enterprise acknowledges its media partners, regional Councils, Townsville Airport and Tourism and Events Queensland for supporting all our marketing and campaign activities. It is through these partnerships Townsville Enterprise was able to further extend our marketing reach.
Townsville Enterprise continued to support the region’s events calendar in the FY24 year, Townsville Enterprise supported Tourism and Events Queensland and Townsville City Council with the acquisition and marketing of significant events including P!nk, Women’s State of Origin and the NRL Pacific Championships.
Regional Development and Investment Attraction
Investment attraction continued to be a priority for Townsville Enterprise in FY24. Across the year the organisation supported more than $10.96B in private investment and a further $971.6M in public investment. To capture the flow of investment, Townsville Enterprise transformed the existing project pipeline, into a live, interactive dashboard. The intention is for the pipeline to be exclusively accessed by copper level and above members and provides key insights into the major project, proponents, and job creation forecasts over the next five years. In FY24, the North Queensland Project Pipeline captured 63 projects
and a value of $33B. This pipeline will be an important benchmarking tool for future years, to ensure that the region continues to grow as these projects progress. Townsville Enterprise also undertook the second stage of the investment collateral development, with the rebranding of Townsville Economic Gateway into Invest Townsville North Queensland (ITNQ). This new site will serve as the primary investment gateway for the North Queensland region. ITNQ will officially launch in FY25.
Acknowledging the region’s critical skills and workforce shortages, Townsville Enterprise continued to facilitate the Designated Area Migration Agreement (DAMA) for the region as the DAR (Designated Area Representative). The Townsville North Queensland DAMA is a formal agreement between the Australian Government and Townsville Enterprise. It provides business owners who have exhausted local recruitment options access to overseas workers, providing a flexibility and responsiveness not available through the standard skilled migration programs. 70 applications were endorsed, and 53 labour agreement were undertaken.
Housing continues to be a challenge for Townsville North Queensland, with rental vacancies remaining below 1%. Further exacerbating the issue of housing shortages has been the sluggish approval rate for new residential constructions in Townsville. Due to these pressures, Townsville Enterprise advocated for new builds only to be accepted into Defence Housing Australia’s (DHA’s) acquiree of property for their new personnel based in Townsville. In May, DHA announces the New Builds Volume Leasing Program which will secure 500 new constructed homes for Townsville. Furthermore, Townsville City Council’s North Rail Yards Project was included in the Federal and State submissions made in the 2024 Unlock the North document. Townsville Enterprise was pleased to see the commitment from the Miles Government for $35M to kickstart the development of this critical housing project. This investment will go towards the remediation works and stabilisation of heritage infrastructure to ensure the North Rail Yards are shovel ready. In the lead up to the State election in October, Townsville Enterprise will continue to seek bipartisan support for key housing infrastructure recommendations to activate new housing developments in the region.
Membership, Events and Business Development
Total membership revenue for The Year Ended 30 June 2024 $1,165,514 (2023: $980,916)
Membership continues to be a priority focus across the organisation. The introduction of a Partnership Manager role provides a dedicated resource to manage and grow the membership base. Membership acquisition features across all events and organisation marketing opportunities. The membership survey saw an increase in the positive Net Promoter score of 3% (+23). The survey provided some valuable insights into member satisfaction with opportunity to continue to improve our membership benefits, support our identified member needs and maintain a strong and satisfied membership base across all industry sectors.
The rollout of the redefined membership structure has assisted in prospective members finding their membership buy in position with an understanding of upgrading opportunities as their businesses and employee numbers increase. The new
membership model was also designed to encourage more defined and clear benefits across the member levels, and this has made those deliverables easier to manage and track. Townsville Enterprise delivered a strong calendar of business events including the North Queensland Tourism & Events Awards, Townsville Enterprise Annual General Meeting & Christmas Function, the Green Energy Forum, Welcome Event and Industry Site Tours, Tourism Futures Forum, Mining and Critical Minerals Forum, Welcome Event and Site Tours, Budget events with the Treasurer, Shadow Treasurer and Queensland Premier and CopperString Stakeholder Engagement functions. We also held multiple Member Mixer networking events involving our strategic partners across the region and various Business Breakfasts. Over the financial year, Townsville Enterprise delivered 33 events which saw over 2,570 attendees.
Investment Strategy
In February 2023, the Board approved Townsville Enterprise Limited’s Statement of Investment Policy and Objectives. This document outlines the objectives and principles for the Townsville Enterprise Limited Investment Fund (TIF).
The purpose of the TIF is to invest funds earned form the delivery of the Hells Gates Dam and Irrigation Scheme Business Case with a focus of leaving an enduring legacy of recurring cash income to be utilised to further TEL’s purpose in accordance with its constitution.
Funds have been invested progressively over the financial year yielding 7.54% annualised net return since inception.
DIRECTORS QUALIFICATIONS
Director
KJ Gill
Qualifications
B Com, CA, GAICD
Chairman 10 years 3 months
Director 15 years 1 month
Member – CopperString Reference Group
Special Responsibilities
Member – Finance Audit and Risk Committee
JL Hill
SR Biggs
JW Carey
RL Crosby
BSc MPHTM, MAICD
Deputy Chairman 12 years 1 month
Mayor – Townsville City Council
Member – Australian Institute of Company Directors
Member – Australian Local Government Women’s Association
Board Member and Policy Executive Committee Member – Local Government Association of Queensland
Member – North Queensland Regional Organisation of Councils
Deputy Chair – Regional Queensland Council of Mayors
Member – Smart Precinct NQ Limited
Deputy Chair – TCC/Townsville Entertainment & Convention Centre Joint Venture Board
Chairman – Townsville Local Disaster Management Group
FREng FTSE
Director 2 years 1 month
Director – Advance Cairns
Council Member – Australian Institute of Marine Science
Vice-Chancellor and President – James Cook University
Council Member – James Cook University
Director/Chairman – James Cook University Singapore
Member – Optus Strategic Advisory Board
Advisory Board Member – ARC Centre of excellence for Enabling Eco-Efficient Beneficiation of Minerals
Director – Smart Precinct NQ Limited
B. Com, CPA, Dip FP, GAICD
Director 13 years 4 months
Director – Bohle Developments Pty Ltd
Director – Carey Accountants Pty Ltd
Director – Carey Financial Pty Ltd
Director – Carey Holdings (QLD) Pty Ltd
Director – Carey Property Group No 2 Pty Ltd
Director – Carey Property Group Pty Ltd
Director – Carey Thomson Moore Consulting Pty Ltd
Director – Carsenish Nominees Pty Ltd
Director/ Secretary – CGP Holdings Pty Ltd
Director/ Secretary – CitiLink Precinct 1 Pty Ltd
Director/ Secretary – CitiLink Precinct 2 Pty Ltd
Director/ Secretary – Coorparoo Debenture Pty Ltd
Director – Cowboys Leagues Club Limited
Director – Cowboys Rugby League Football Club Limited
Director – Dexat Holdings Pty Ltd
Director – Endure Wealth Pty Ltd
Director – Strategic SMSF Pty Ltd
Director – The Boardroom CFO Pty Ltd
Director/ Secretary – Wabbitz Pty Ltd
Special Responsibilities
Director – Hells Gates Dam Irrigation Scheme Pty Ltd
LLB, GAICD
Director 10 years 1 month
Chief Executive Officer – Port of Townsville Limited
Member – Queensland Ministerial Freight Council
Chair – Queensland Ports Association
Director – Ports Australia
Special Responsibilities
Chair – Economic Development Strategic Advisory Committee
Director/ Secretary – Tan Lines Distilling Pty Ltd
Special Responsibilities
Co-Chair – Membership Committee
Director 6 years 1 month
Director – Breakwater Island Limited
Director – Centralian Car Wash Pty
Director – Centralian Property Pty Ltd
Sole Director/ Secretary – Jonesy Pty Ltd, Acting for the Jones Family Trust
Director – Ronald McDonald House Charity – North Australia Charter
Special Responsibilities
Chairman – Tourism and Events Strategic Advisory Committee
BA.LLB, MAICD
Director 8 years 1 month
Director – Steele Projects and Advisory Pty Ltd
Director – MA Steele Pty Ltd
Director – MAASK Investments Pty Ltd
Consultant – Keir Steele Waldon Lawyers Pty Ltd
Director 3 years 2 months
Director – Colliers International (Townsville) Pty Ltd
Director – Welben Investments Pty Ltd
Director – Benwel Pty Ltd, ATF The Peter Wheeler Family Trust
Director – Caldwool Pty Ltd, ATF The Caldwool Unit Trust
Director – Stufrletch Pty Ltd, ATF The Sturfletch Unit Trust
Director – 13 Martinez Avenue Pty Ltd, ATF 13 Martinez Unit Trust
Director – Tec NQ
Director – North Railyards Developments Pty Ltd
Group Chair – Salvation Army Red Shield Appeal | Townsville Region
Chair – Townsville Advisory Group | Salvation Army
Committee Member – Australian Property Council | Townsville Committee
Special Responsibilities
Co-Chair – Membership Committee
MEETINGS OF DIRECTORS
The number of meetings the Company’s Board of Directors (the Board) and of each Board Committee held during the year ended 30 June 2024, and the number of meetings attended by each Director were:
A = Number of meetings attended.
B = Number of meetings held during the time the Director held office or was a member of the Committee during the year.
Directors Benefits
Since the end of the previous financial year no Directors have received or become entitled to receive benefit (other than a benefit included in the aggregate amount of emoluments received or due and receivable by Directors), by reason of a contract made by the Company, or a related corporation with the Director or with a firm they are a member of, or a company in which they have a substantial financial interest to the financial statements.
Insurance of Officers
During the financial year, Townsville Enterprise Limited paid a premium to insure the Directors and Secretaries of the Company. Under the arrangement the premium is unable to be disclosed. The Company has not otherwise, during or since the end of the financial year, except to the extent permitted by law, indemnified or agreed to indemnify any officer or auditor of the Company or any related body corporate against a liability incurred as an officer or auditor.
Contributions on Winding Up
The Company is incorporated under the Corporations Act 2001 and is a Company limited by guarantee. If the Company is wound up, the constitution states that each member is required to contribute a maximum of $20 each towards meeting any outstanding obligations of the entity.
Environmental Regulations
No significant environmental regulations apply to the Company.
AUDITORS INDEPENDENCE DECLARATION
A copy of the auditor’s independence declaration, as required under section 307c of the Corporations Act 2001, is set out on the next page. The Directors’ report is signed in accordance with a resolution of the Board of Directors, pursuant to section 298(2)(a) of the Corporations Act 2001. On behalf of the Directors
Kevin Gill | Director
Townsville, 17 October 2024
AUDITOR’S INDEPENDENCE DECLARATION
To the Directors of Townsville Enterprise Limited
In accordance with the requirements of section 307C of the Corporations Act 2001, as lead auditor for the audit for Townsville Enterprise Limited, I declare that, to the best of my knowledge and belief, during the year ended 30 June 2023, there have been:
1. No contraventions of the auditor independence requirements as set out in the Corporations Act 2001 in relation to the audit; and
2. No contraventions of any applicable code of professional conduct in relation to the audit.
Crowe Audit Australia
Tracey Mayhew | Partner Townsville, 17 October 2024
STATEMENT OF PROFIT OR LOSS AND OTHER COMPREHENSIVE INCOME FOR THE YEAR ENDED 30 JUNE 2024
Surplus / (deficit) for the year attributable to the members of Townsville Enterprise Limited
income / (loss) for
This statement should be read in conjunction with the notes to the financial statements
STATEMENT OF FINANCIAL POSITION
STATEMENT
OF
CHANGES IN EQUITY
FOR THE YEAR ENDED 30 JUNE 2024
statement should be read in conjunction with the notes to the financial statements
STATEMENT OF CASHFLOWS FOR THE YEAR ENDED 30 JUNE 2024
This
NOTES TO THE FINANCIAL STATEMENTS
1. GENERAL INFORMATION
1.1 Basis of Preparation
These general purpose financial statements have been prepared in accordance with the Corporations Act 2001 and other authoritative pronouncements issued by the Australian Accounting Standards Board (AASB) and comply with other requirements of law.
The financial statements comprise the financial statements of Townsville Enterprise Limited (the Company). For the purposes of preparing the financial statements, the Company is a not-for-profit entity.
HISTORICAL COST CONVENTION
The financial statements have been prepared under the historical cost convention.
CRITICAL ACCOUNTING ESTIMATES
The preparation of the financial statements requires the use of certain critical accounting estimates. It also requires management to exercise its judgement in the process of applying the Company’s accounting policies. The areas involving a higher degree of judgement or complexity, or areas where assumptions and estimates are significant to the financial statements are disclosed in the relevant accounting policies within Note 1 and are based on historical experience and on the various factors, including expectations of future events management believes to be reasonable under the circumstances.
1.2 Statement of Compliance
The Company does not have ‘public accountability’ as defined by AASB 1053 Application of Tiers of Australian Accounting Standards and is therefore eligible to apply Tier 2 reporting framework under the Australian Accounting Standards.
The financial statements comply with the recognition and measurement requirements of Australian Accounting Standards, the presentation requirements in those standards as modified by AASB 1060 General Purpose Financial Statements – Simplified Disclosures for For-Profit and NotFor-Profit Tier 2 entities and the disclosure requirements in AASB 1060. Accordingly, the financial statements comply with Australian Accounting Standards – Simplified Disclosures.
1.3 Information about the Company
Townsville Enterprise Limited is a not-for-profit company limited by guarantee, incorporated under the Corporations Act 2001. The registered office and principal place of business is as follows: 151 Sturt Street, Townsville, QLD 4810 Tel (07) 4726 2728
2. MATERIAL ACCOUNTING POLICIES
The accounting policies that are material to the company are set out below. The accounting policies adopted are consistent with those of the previous financial year, unless otherwise stated.
New or amended Accounting Standards and Interpretations adopted
The company has adopted all of the new or amended Accounting Standards and interpretations issued by the Australian Accounting Standards Board (AASB) that are mandatory for the current reporting period.
Any new or amended Accounting Standards or Interpretations that are not yet mandatory have not been early adopted
2.1 Revenue
Revenue is recognised at an amount that reflects the consideration to which the Company is expected to be entitled in exchange for transferring goods or services to a customer.
MEMBERSHIP AND PARTNERSHIP REVENUE
Membership and Partnership revenue is recognised in the Statement of Profit or Loss and Other Comprehensive Income in respect to the period in which it relates.
Amounts received in advance of the membership period are recognised in the Statement of Financial Position until the commencement of the membership period.
GRANTS
Grant revenue is recognised in the Statement of Profit or Loss and Other Comprehensive Income when the Company satisfies the performance obligations stated within the funding agreements or Grant Deeds. If conditions are attached to the grant which must be satisfied before the Company is eligible to retain the contribution, the grant will be recognised in the Statement of Financial Position as a liability until these conditions are satisfied.
Income recognition from grants received by Townsville Enterprise Limited has been appropriately accounted for under AASB 1058 or AASB 15 based on the assessment performed.
SERVICE REVENUE
Revenue arising from the rendering of a service is recognised upon the delivery of the service to the clients.
OTHER REVENUE
Other revenue (which includes campaign, event and project income) is recognised when it is received or when the right to receive the payment is established.
All revenue is stated net of the amount of goods and services tax (GST).
2.2 Lease
The company has a lease for the main office of Townsville Enterprise Limited at 151 Sturt Street. This lease is reflected on the balance sheet as a right of use and a lease liability in accordance with AASB 16. The following table describes the nature of this lease as recognised on the balance sheet:
Right of use asset Office premises
Term of lease 7 years
Extension option term 5 years
Lease commencement date 1/10/2021
Lease incentive
2 months rental
At lease commencement date the Company recognises a right-ofuse assets and a lease liability. The right-of-use asset is measured at cost and depreciated on a straight-line basis from the lease commencement date to the end of the lease term (including option period). The lease liability is measured at the present value. Subsequent to the initial measurement the liability will be reduced for payments made and increased for interest.
2.3 Income Tax
The Company is exempt from income tax under Division 50 of the Income Tax Assessment Act 1997.
2.4 Current and non-current classifications
Assets and liabilities are presented in the Statement of Financial Position based on current and non-current classification.
An asset is classified as current when: it is either expected to be realised or intended to be sold or consumed in the normal operating cycle; it is held primarily for the purpose of trading; it is expected to be realised within 12 months after the reporting period; or the asset is cash or cash equivalents unless restricted from being exchanged or used to settle a liability for at least 12 months after the reporting period. All other assets are classified as non-current.
A liability is classified as current when: it is either expected to be settled in normal operating cycle; it is held primarily for the purpose of trading; it is due to be settled within 12 months after the reporting period; or there is no unconditional right to defer the settlement of the liability for at least 12 months after the reporting period. All other liabilities are classified as non-current.
2.5 Cash and cash equivalents
Cash and cash equivalents include cash on hand, deposits held at call with financial institutions and other short term highly liquid investments with original maturities of three months or less that are readily convertible to known amounts of cash and which are subject to insignificant risk of changes in value. Deposits with maturity dates greater than three months are considered investments. On initial recognition investments are measured at fair value plus transaction costs and subsequently measured at amortised cost in accordance with AASB 9 Financial Instruments.
2.6 Trade and other receivables
Trade and other receivables are measured at amortised cost, less any allowance for expected credit losses in
accordance with AASB 9 Financial Instruments. Trade receivables are generally due for settlement within 30 days.
2.7 Property, plant and equipment
Plant and equipment is stated at historical cost less accumulated depreciation. Historical cost includes expenditure that is directly attributable to the acquisition of the asset/s.
Depreciation is calculated on a straight line or diminishing value basis to write off the net cost of each item of property, plant or equipment over their expected useful lives as follows:
Leasehold Improvements 10-50%
Plant and Equipment 5-20%
Motor Vehicles 20-25%
The residual values, useful lives and depreciation methods are reviewed, and adjusted if appropriate, at each reporting date.
Leasehold Improvements are depreciated over the unexpired period of the lease or the estimated useful life of the assets, whichever is shorter.
An item of property, plant or equipment is derecognised upon disposal, or when there is no future economic benefit to the Company. Gains and losses between the carrying amount and the disposal amount are distributed to the Statement of Profit or Loss. Any revaluation surplus reserve relating to the item disposed of is transferred directly to retained profits.
2.8 Intangible Assets and Software
Intangible assets are initially recognised at cost. The gains or losses recognised in profit or loss arising from the derecognition of intangible assets are measured as the difference between net disposal proceeds and the carrying amount of the intangible assets. The method and useful lives of finite life intangible assets are reviewed annually. Changes in the expected pattern of consumption of useful life are accounted for prospectively by changing the amortisation method or period.
Significant costs associated with configuration and customisation of software are deferred and amortised on a straight-line basis over the period of their expected benefit, being their finite life of three to five years.
2.9 Trade and other payables
These amounts represent liabilities for goods and services provided to the Company prior to the end of the financial year and which are unpaid. Due to their short-term nature, they are measured at amortised cost and are not discounted. The amounts are unsecured and are usually paid within 30 days of recognition.
2.10 Employee Benefits
Short term employee benefits
Liabilities for wages and salaries, including nonmonetary benefits and annual leave expected to be settled within 12 months of the reporting date or where no right to defer settlement exists, are recognised in current liabilities in respect of employees’ services up to the reporting date and are measured at the amounts expected to be paid when the liabilities are settled.
LONG-TERM EMPLOYEE BENEFITS
The liability for long service leave not expected to be settled within 12 months of the reporting date is recognised in noncurrent liabilities, provided there is an unconditional right to defer settlement of the liability. The liability is measured as the present value of expected future payments to be made in respect of services provided by employees up to the reporting date using the projected unit credit method. Consideration is given to expected future wage and salary levels, experience of employee departures and periods of service. Expected future payments are recognised at the expected cash outflow when the liability is settled. Long term benefits are accounted for employees who have achieved seven years of service with the Company.
2.11 Goods and Services Tax (GST) and other similar taxes
Revenues, expenses and assets are recognised net of the amount of associated GST, unless GST incurred is not recoverable from the Australian Tax Office (ATO). In this case it is recognised as part of the cost of the acquisition of the asset or as part of the expense.
Receivables and payables are stated inclusive of the amount of GST receivable or payable. The net amount of GST recoverable
3. REVENUE
from, or payable to, the ATO is included in other receivables or other payables in the Statement of Financial Position. Cash flows are presented on a gross basis. The GST components of cash flows arising from investing or financing activities which are recoverable from or payable to the ATO are presented as operating cash flows.
2.12 Investments
The entity classifies its financial assets in the following measurement category; Those to be measured subsequently at fair value (either through other comprehensive income (OCI) or through the Statement of Comprehensive Income). For assets measured at fair value, gains and losses will either be recorded in the Statement of Comprehensive Income or OCI. For investments in equity instruments that are not held for trading, this will depend on whether the company has made an irrevocable election at the time of initial recognition to account for the equity investment at fair value through other comprehensive income (FVTOCI).
4. OTHER EXPENSES
5. CASH AND CASH EQUIVALENTS
6. TRADE AND OTHER RECEIVABLES
7. PROPERTY, PLANT AND EQUIPMENT
Reconciliation of the written down value at the beginning and end of the current financial year is set out below
8. TRADE AND OTHER PAYABLES
9. EMPLOYEE BENEFITS
10. OTHER LIABILITIES
11. RELATED PARTY TRANSACTIONS
Townsville Enterprise Limited’s related parties include its key management personnel and related entities as described below. Townsville Enterprise Limited considers normal course of business transactions to include membership fees, lease payments and other low value payments that occur on normal commercial terms.
11.1 Transactions with related entities
There were no transactions with related parties during the current and previous financial year outside of the normal course of business.
11.2 Transactions with key management personnel
Any person(s) having authority and responsibility for planning, directing and controlling the activities of the entity, directly or indirectly, including any Director of that entity is considered key management personnel. The Board of Directors of Townsville Enterprise Limited are designated key management personnel in accordance with the definition provided. The Chair of the Board receives remuneration for their role on the Board, no other Directors receive remuneration for their roles on the Board. Other management personnel for 2023/24 include Claudia Brumme-Smith (CEO), Tracey Holmes (Director Corporate Services), Lisa Woolfe (Director Visitor Economy and Marketing), Paul Holden (Director Regional Development and Investment) and Kevin Gill (Chairman).
12. CONTINGENCIES
There are no contingent liabilities incurred by Townsville Enterprise Limited at 30 June 2023 and 30 June 2024.
13. LEASE COMMITMENTS
14. FINANCIAL ASSETS
15. AUDITOR REMUNERATION
Fees paid to Townsville Enterprise’s contracted auditors for the period are as follows:
The audit fees quoted by Crowe Audit Australia relating to the 2023-2024 financial statements are $15,000 (2023: $14,500)
16. POST REPORTING DATE EVENTS
No matters or circumstances have arisen since 30 June 2024 that has significantly affected, or may significantly affect, the Company’s operations, the results of those operations, or the Company’s state of affairs in future financial years.
17. ECONOMIC DEPENDENCE
Townsville Enterprise Limited is dependent upon the ongoing receipt of Local and State Government grants to ensure the ongoing continuance of its programs. At the date of this report, management has no reason to believe that this financial support will not continue.
DIRECTORS DECLARATION
In the opinion of the Directors of Townsville Enterprise Limited:
a) The financial statements and notes of Townsville Enterprise Limited are in accordance with the Corporations Act 2001, including:
I. Giving a true and fair view of its financial position as at 30 June 2024 and of its performance for the financial year ended on that date; and II. Complying with Australian Accounting Simplified Disclosure Requirements (including the Australian Accounting Interpretations) and the Corporations Regulations 2001; and b) There are reasonable grounds to believe that Townsville Enterprise Limited will be able to pay its debts as and when they become due and payable.
Signed in accordance with a resolution of the Directors
