An Opportunity for Mid-Tier Construction Firms
Developing Australia’s infrastructure is imperative for economic growth, so it’s reassuring that our government is committed to a record level of investment in infrastructure. However, it’s not all good news.
Our reliance on foreign firms – particularly in a post-COVID world – is risky in terms of our economic growth.
Here, we look at the current state of Australian infrastructure and investment, and how other countries have handled the risks. In particular, we consider how local mid-tier construction firms can play a role in reducing the risks and securing economic growth.
Australia’s infrastructure investment commitment for FY2020 was $51.93 billion and is at a historical year high, exceeding post-GFC spending of $35 billion. The trend looks set to continue with the Federal Government planning to spend $100 billion over the next decade – and that’s on top of spending by state governments and private developers.