General News
26 March, 2025
United force: Momentum gathers behind Special Economic Zone
The region's leaders and big players are pushing ahead with plans for a North West SEZ.
A coalition of support is rising for a Special Economic Zone with North West councils set to discuss the matter at a gathering in state parliament next week.
Mount Isa mayor Peta MacRae has made the issue a top agenda item when the North West Queensland Regional Organisation of Councils (NWQROC) meet in Brisbane as part of a raft of appointments with LNP government ministers.
Cr MacRae said a “significant policy response” was needed to tackle the regulatory and investment pressures faced by emerging resource projects and that a SEZ provided a wide range of levers that could be adjusted to improve the lives of residents.
There is growing support for the proposal, with Traeger MP Robbie Katter, Kennedy MP Bob Katter and the Mount Isa to Townsville Economic Zone (MITEZ) backing it, while key local resource industry leaders say it could assist the region reach its long-lauded economic potential.
All of the supporters say that a SEZ could deliver a “fit-for-purpose” regulatory environment for new project viability and deliver tax incentives to increase local investment, skilled workers and job opportunities.
The push for a Special Economic Zone follows the collapse of four junior miners in and around Cloncurry in recent months and heated debate about the high-cost burdens for power and freight delivery in the North West.
Cr MacRae laid out the case for a SEZ at a MITEZ forum at the Mount Isa Civic Centre last week.
In front of more than 100 officials from local councils, state government agencies and the resources sector, Cr MacRae said the competitive advantage of the North West Minerals Province could not be realised within the current tax framework.
She also said a range of federal tax changes could be discussed within a SEZ, including HECS relief, housing support, zonal offsets and a fairer share of resource royalty revenue.
“I have spoken many times about how we need a better share of the royalties to improve livability in our community,” Cr MacRae said at the forum.
“Whatever economic levers that need to be pulled by government should be used to achieve that.
“Now there is discussion around a special economic zone, I think there could be a real political appetite for it.
“We think our timing is pretty good to being advocating for that.”
Mount Isa Minerals chief executive officer Nicholas Huffels said he “fully supported” initiatives that enabled industry to expand and support communities.
“There needs to be acknowledgement that Australia needs to get more dynamic, and I think a Special Economic Zone could absolutely achieve that,” he said.
“At the very minimum it is an acknowledgement of the importance of the community and the economic viability of that community.
“There is a current mindset among investors that it takes 14 to 17 years to get the necessary project approvals to be up and running.
“That is a long time to have your money invested and it is underpinned by the complexity of navigating all the bureaucracy involved.”
Richmond mayor John Wharton told North West Weekly that he supported any initiative that increased decision-making power in local hands.
“This is the type of thing we have been after for a long time,” he said.