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💰 QLD x GC Cruisey Budgets and The Local Space Race
Today’s newsletter is 985 words: 3.5 minute read.
Thursday, June 15.
Sir Paul McCartney has just channelled AI wizardry for a Beatles encore that will include all original band members. He’ll release the “last ever Beatles song" by harnessing AI to extract Lennon's voice from an old demo. Cue guitar strings and prepare for an epically harmonious time warp.
In today’s email:
QLD + GC Big Budgets: A golden age for the Sunshine State
GC’s Space Race: Goes long on the cosmos
Trending: Cooly Rocks On 2023 fines + NZs economic situation
Around the Web (Snippets): GC Women in HealthTech, Early Oktoberfest and more!
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Live Gold Coast Housing Prices
1. One Big Thing: A Cruisey Budget for the Sunshine State
This week, our city and state budgets for 2023/24 were revealed, painting a promising picture of financial and infrastructural progress.
Diving into the details
Themed "Tackling the Cost of Living", the Queensland budget shows a sunny surplus of $12.3 billion, largely thanks to mega coal royalties.
The beyond inflation weapons in the 2023/24 Queensland Budget included:
Massive hydro project – The budget will support the 2-gigawatt Borumba pumped hydro project in the Sunshine Coast with a $14bn investment
Infrastructure – an $89bn injection into the “big build” program in preparation for the 2032 Olympic Games, including a focus on the Gold Coast
However, there's a possible storm brewing in the distance — a projected deficit of $47 billion by 2026/27.
QLD’s Financial Flotation Device
Statewide, the surplus brings immediate relief, with households setting to benefit from a $550 automatic rebate on their electricity bill this year.
And those needing more support can brace for an extra $700 relief on top of the existing $372 they already receive.
But with significant homelessness and inflation issues ever increasing, many critics have criticised the State Government’s choice of focus.
The Great Coast
With the motto of "Delivering for All", the City of Gold Coast’s budget mirrors the unwavering commitment to the progress and well-being of all residents, which it appears to have succeeded in delivering over many years.
This fiscal year promises significant growth and a boost to our lifestyle.
Neatly compartmentalised for easy reading, The City of Gold highlighted the overall service objectives of the 2023/24 budget.
Singled out were:
$288.68M for drinking water upgrades and infrastructure buildout
$98.52M for waste collection and disposal
$217.74M for sewage services
$45.58M for recycling services
Beyond delivering services, the City of Gold budget listed five top priorities for the growing communities.
Road network improvement
Public transport improvements
Parks, natural areas, and recreation
The big picture
Both the 2023/24 budgets paint a bright future for the City of Gold Coast and its residents.
However, the looming state deficit serves as a reminder to keep a close eye on how the next few years unfold.
Our city, a lifestyle hub, is primed for growth and prosperity; however, as we ride the waves of progress, it needs to be ensured that we're building for a sustainable future while meeting the needs of feedback provided by our residents.
2. Space Race: The Coast's Deeper Leap into the Cosmos
In the last week, Gilmour Space Technologies, our homegrown space industry leader, announced a $52 million grant agreement with the federal government.
This funding is a vital booster rocket to the $156 million Australian Space Manufacturing Network (ASMN).
The ASMN, as it stands, will establish three new space facilities in Queensland:
A standard test and manufacturing facility, enabling members to advance their space research and technology development at lower costs
An advanced manufacturing facility for building commercial rockets and satellites, anchored by Gilmour Space
An orbital spaceport in North Queensland that will help bring products to space.
In other words, we're boldly going where no Gold Coaster has gone before and joining forces with a galactic alliance of over 30 space companies.
What the people say
The press release explained, “It is the largest collaboration project for space in the MMI, bringing together more than 30 space companies, universities, and supply chain partners — including international satellite companies mu Space and SatRevolution, as well as Australian partners such as Neumann Space, Swinburne University of Technology, Spiral Blue, Greatcell Energy, and ARM Hub.”
While Gilmour said that “the grant will fund a major piece of the $156 million Australian Space Manufacturing Network.”
What to look for next
A few extra bright stars moving quickly across that sky, which likely be something to do with Gilmour.
A GC Reddit post from Cooly Rocks On last weekend
📉 And our cousins across the ditch officially hit the dip..
4. Around The Web (Snippets)
Women in HealthTech: A start-up event you should attend on June 22 in Southport with Kaitlyn Sapier, founder of Eduvidd and myhealthPD and Lucie Dawson, founder of Templa
Early Oktoberfest: Mini event at the Australian German Club in Merrimac on June 16. Ja, Schnitzel 🍻
Pricey Islands: $7.85 million was the record-setting price recently paid for a new build on the Sovereign Islands on Gold Coast
The Ashes are on: Starting tomorrow night from Edgbaston in London, with coverage starting from 7:30 pm and the first ball at 8 pm🏏
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