Charters Towers has achieved sound economic and population outcomes in recent years. Council remains committed to attracting and facilitating further development towards enhancing the Charters Towers economy into the future, from which the Region could see improved growth outcomes. Government analysts predict that in order to maintain living standards in line with Australian benchmarks and account for forecast population growth, Charters Towers will need to increase its real economic output by 80% over the next 20 years.
This level of growth will require major new investments, both from expansion of existing business and from new industry to the Region. In order to realise the required investments, Charters Towers must be investment-ready to compete in an increasingly competitive investment environment.
There are four sectors of the economy which are current major contributors to the Region and are considered to remain key to the future performance of the Region's economy. They are mining, agriculture, education and tourism.
Council is continuing with the development and leasing of land for recreational purposes including a Drag Strip, Motor Sport Complex and potential for recreational activity on the Burdekin River through a Water Activity Zoning Plan. Development of a Sport and Recreation Master Plan for the benefit of the various affiliations is considered a priority for the forthcoming year.
Council continues to partner with the North Queensland Regional Organisations of Council on regional development issues and has continued membership with Townsville Enterprise Limited (TEL) and MITEZ (Mount Isa to Townsville Economic Development Zone).
Cr Frank Beveridge, Mayor of Charters Towers is also the Chairman of Regional Development Australia Townsville and North West Queensland (RDA). RDA facilities and advocate for economic development across the North and North West Queensland region.