Cairns economy thrives with billion-dollar boost

The Cairns economy is growing, with a $1.66 billion uplift since 2020.

Council today noted the progress on its 2022-2026 Economic Development Strategy, which has helped steer the region’s economic output to an impressive $11.46 billion.

The city’s job market is also thriving, with employment up to 88,563 jobs - reflecting nearly an 8% increase in jobs from 2020.

The report highlighted the significant pipeline of major projects to be delivered in the Cairns region in coming years.

Councillors recently toured the Cairns Marine Precinct in Portsmith, where they saw firsthand how investments in the proposed Common User Facility, shipyards and defence sector are laying the groundwork for even more growth.

Mayor Amy Eden said a focus on diversifying the economy continued to drive growth.

“Cairns has always been more than just a gateway to the Great Barrier Reef,” she said.

“Our aviation, marine, health, education and defence industries are showing just how essential diversification is to the future growth and resilience of our economy - creating skilled jobs, strengthening our supply chains, and providing opportunities for small businesses.

“With plans to further tap into green industries and expand investment opportunities, Cairns is well on its way to hitting its $13 billion economic target.”

During the reporting period, Council sponsored 12 major events which delivered a $31 million economic impact through visitation to the region.

With $384 million - 88% of Council’s total expenditure - spent with local businesses, that’s a $46 million boost from last year.

Current major projects planned or under construction include:

Cairns Water Security – Stage 1 ProjectBruce Highway, Cairns Southern Access Corridor, (Stage 5) Foster RoadCaptain Cook Highway upgrade (Cairns Central Business District to Smithfield)Cairns Western Arterial Road, Redlynch Connector Road to Captain Cook HighwayKennedy Highway (Cairns to Mareeba) and Kennedy Highway (Mareeba to Ravenshoe) upgrade intersectionKennedy Highway (Cairns to Mareeba), Barron River bridge, pre-constructionCairns Southern Access CyclewayCairns South State Development AreaAviation Precinct Expansion, including Eastern Precinct, Common User Facility and Composites HangarCairns Airport International Terminal RefreshCairns Marine Precinct Expansion including HMAS Cairns Upgrades and Common User FacilityFar North Queensland Health and Innovation Precinct, including James Cook University’s Cairns Tropical Enterprise CentreCairns Hospital Mental Health UnitCairns Hospital Emergency Department expansionCairns Hospital expansion, including 96 additional beds and a new surgical centre and the planned Cairns Health and Innovation CentreCairns Ambulance Station and Operations RedevelopmentCQUniversity’s proposed new City Centre CampusGreat Barrier Reef International Marine College ExpansionWangetti TrailThe Palms Master Planned Estate

Major Events Precinct development including Olympic Legacy Upgrades at Barlow Park.