The Reef Marina $85 million redevelopment proposal for the Port Douglas waterfront is expected to generate employment for about 320 people and create a further 300 indirect jobs over the two-year construction period, according to figures from Cummings Economics.
The independent economic impact statement for the proposed redevelopment, also found in addition to boosting employment in the Douglas Shire by about 5.8%, the regional economy would grow by 4.4%.
The projects overall economic contribution was valued at $588 million over 30 years.
The proposed waterfront transformation features 85 luxury residences with almost 200 rooms, increasing Port Douglas holiday and permanent accommodation options.
The project will also offer new waterfront dining and entertainment areas along with an additional 44 marina berths.
The Reef Marina co-owner Andrew Hooper-Nguyen said the raw data was exciting for Port Douglas, not only providing the economic stimulus for jobs and growth during the initial construction phase, but longer term, benefiting the entire community.
Looking forward, this redevelopment has the opportunity to change the future for our children, creating pathways for employment across a number of different sectors from hospitality and retail to tourism and other service related industries, creating around 240 permanent jobs.
Once complete, total expenditure on holiday and residential rentals, commercial space expenditure and increased marina activity is expected to be approximately $48 million annually, Mr Hooper-Nguyen added.
Highlights of the redevelopment include a rainforest walkway to connect the marina to the town centre and a timber boardwalk spanning the entire waterfront.
This will feature public art, shaded seating, viewing stages to make the most of the ports scenic beauty, restaurants, cafes and other retail outlets.
The development application to transform the Port Douglas waterfront into a vibrant community, entertainment and cultural precinct is before the Douglas Shire Council.