LandCorp dangles duty carrot
LandCorp will pay up to $100,000 of stamp duty on industrial lots sold as part of a new campaign to encourage businesses to expand or relocate.
The incentives will apply to four of LandCorp’s metropolitan estates and 19 of its regional estates from today until December 2.
LandCorp general manager metropolitan and industrial John Hackett said the unprecedented move reflected the Government’s desire to boost the economy.
“It is the first time we have done this sort of incentive,” he said. “It is all part of our selling costs, but the Government is really keen at a higher level to encourage new businesses to start up and create jobs.
“This is a way of attracting businesses who may have been considering expanding or relocating to bring that forward.”
Mr Hackett said LandCorp acknowledged how difficult it was for businesses in the current economic climate.
The offer applies to the first 10 lots purchased from participating regional and metropolitan estates that settle within 90 days.
LandCorp estates accommodate about 2700 businesses that employ 67,000 West Australians.
Its current and future estates will provide for up to 2000 businesses that will employ 42,000 people, with a predicted $14.4 billion annual economic impact.
LandCorp chief executive Frank Marra said the group’s industrial development helped underpin decades of economic prosperity in WA.
“Industrial estates at the Burrup Peninsula, Kalgoorlie, Albany, Pinjarra and Kemerton, as well as Kwinana, Wangara, Cockburn and Canning Vale, have played an important role in realising the potential of regional locations and suburbs across our city,” he said.
Mr Marra said LandCorp’s estates were “strategically located economic and employment land developments” for commercial use for light and heavy industry.
He said the campaign highlighted the range of land options across the State, including in regional areas in a variety of lot sizes.
“We have an economy that is supporting a mineral and petroleum industry worth $99.5 billion, $17 billion worth of new infrastructure is planned, and by 2028, Perth will be Australia’s third most populated city,” he said.
“This is good news for industrial sectors such as transport/ logistics, construction, manufacturing, and other industrial uses.
“LandCorp works with Government and other entities to make sure there is a sufficient long-term supply of land to allow this industrial investment and activity to take place.”
The incentive is expected to attract interest from small and medium sized businesses.
First published in the West Australian