AUSTRALIAN TIMBER OIL AND GAS is about to become the most lucrative export sector in the world, with more than $1 trillion in revenue expected from its sale.
The new export category was created by the Federal Government in December, after the State Government had abandoned its previous plans to develop the resource.
The Government said it had developed a strategic plan to export more than 80 per cent of the value of the timber.
The State Government is also working on a new forestry industry to support its new growth.
Photo: Supplied The new category of timber, known as timber cove resort, was first introduced in Queensland in December last year, and it is being developed in a new area, the Woodlands, off the Gold Coast.
The value of Australian timber oil and other timber products is expected to reach more than AU$1.2 trillion by 2025.
The Federal Government’s Strategic Growth Strategy for Queensland said that the Government would be investing in a number of sectors in order to support the state’s recovery.
Photo : Supplied Under the new timber cove industry, Queensland will sell approximately 8,000 hectares of timber and the Queensland Government has identified about 500 properties to be developed.
The state’s largest development company, Woodlands Development, has already committed to develop a $200 million resort on the site of a former fishing lodge.
Mr Gough said the new development would provide a “new, high-quality” destination for the state to build on the success of its existing resorts.
“This is going to be a big asset for Queensland, a big piece of land,” he said.
“The new timber will be a very important piece of the plan for Queensland.”
The Government has been building a range of industries to support Queensland’s recovery, including tourism, fishing, forestry, farming and tourism, he said, adding the State had a strong future in the timber business.
Mr Smith said Queenslanders would be excited to see the new resource, which is being made up of approximately 40 per cent more trees than previously planned.
“I’m confident it’s going to deliver a very positive outcome for the Queensland economy, because there are a lot of good jobs in the state and it will create many jobs for our people here in the Goldfields,” he added.
“It’s going have a lot to do with our economic health and we’re just really pleased that the Federal government is investing in Queensland.”
Mr Smith added Queensland had to be proactive in promoting tourism, which had increased in recent years, to maintain its economic vitality.
“We’ve had a number years of really high tourism growth in the last few years,” he noted.
“As long as we’re continuing to build our economy, we’re going to have a strong, sustainable and sustainable tourism industry.” “
The Woodlands will be the first major development area in Queensland to be built entirely on renewable resources, with a focus on the state of Queensland. “
As long as we’re continuing to build our economy, we’re going to have a strong, sustainable and sustainable tourism industry.”
The Woodlands will be the first major development area in Queensland to be built entirely on renewable resources, with a focus on the state of Queensland.
“When we’re working with a number that are very high value commodities like timber, it’s really important to make it sustainable,” Mr Smith explained.
Queensland will also build its own coalmine on the Woodland. “
So it’s a great opportunity for the State to build the very high quality, sustainable tourism environment that we need.”
Queensland will also build its own coalmine on the Woodland.
The mining industry is expanding rapidly in the region, with the state expecting to grow by about 25 per cent in the next two years.
Photo to the right is a map of Queensland’s coal mining areas, from North Queensland to the Northern Territory.
The Queensland Government’s Government Infrastructure Facility (GIF) has also been designed to help Queensland become a destination for tourism.
Photo courtesy of the Queensland government.
Mr Cook said the Government had set out a number plans to support tourism, including the establishment of a new tourism agency, and a tourism strategy.
“These are all really good initiatives,” he concluded.
“But they are also going to make the state a much more attractive place for people to come to, and people to stay in, because they will know they’re going there to experience some of the really high quality and very high-value commodities that we have.”
The ABC understands the Queensland Tourism Agency is also considering the development of a resort in the Northern Territories.
The Northern Territory Government has also announced plans to increase its mining capacity in the remote area of the Great Northern Desert, but that is unlikely to be the last time the State builds a resort.