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MEDIA RELEASE: Is the Townsville Market Showing Early Signs of Strain? The Northern Eye reports on the macro economy downturn and what we are seeing on the ground in Townsville and explores what can be done to ensure a strong short- and long-term outlook. Townsville, Queensland, Thursday 14th March 2024: The March quarter Northern Eye reports a turn in our labour market recording an increase in unemployment, population and cost of living predicted in 2024. Townsville and the broader national economy appear to be at tipping point, with higher operating and borrowing costs catching up to the post-COVID growth period. Townsville, however, remains (comparatively) highly affordable, with both houses and units remaining well below the price of new construction. Our relative financial strength and high local incomes give us confidence that the local economy can weather the impending economic slowdown. Matthew Kelly, Principal Economist at Regional Economic Advisory in Townsville, and author of the report comments, “On the one hand, increased business closures and relocations are impacting the commercial property market as businesses battle with labour shortages, cost pressures, and the flow-on effects of the COVID working from home revolution as employers reassess their space requirements. On the other hand, the demand side of the economic equation remains robust, with full flights, restaurants, schools, and a buoyant residential property market all pointing to one thing: Townsville is growing”. Townsville will not escape the 2024/25 downturn unscathed with significant economic links to world trade and commodity markets, with several major economies already in recession. However, it remains well-positioned for long-term growth. Keys to unlocking this growth include economically viable higher density housing options and catching the lagging perception up to the reality of Townsville as a top regional destination to live, work and invest after the difficult social and economic years leading up to COVID. Townsville Chamber of Commerce CEO Heidi Turner commented on the report, “It is heartening to read in the Northern Eye report that the future is bright for our region. We are seeing many businesses caught between increasing costs of doing business, and lower consumer spending. "At Townsville Chamber of Commerce, we will be holding a mirror up to our three levels of government to address our key advocacy areas to reduce red tape and the cost of doing business, reduce crime and ensure we are well positioned to maximise upon future opportunities to raise the region." Read the Northern Eye Report

Townsville stands to become a global leader in the production, export and supply of green methanol, following the signing of a Memorandum of Understanding (MoU) between ABEL Energy and Port of Townsville. The MoU underpins ABEL Energy’s plans to produce and export green methanol from a new $1.7 billion manufacturing facility in Townsville. The partnership will also explore opportunities for establishing marine bunkering facilities at the Townsville Port, making Townsville a critical pitstop in the emerging green shipping network. ABEL Energy CEO Michael van Baarle said the Townsville project would seek to replicate the company’s flagship project, Bell Bay Powerfuels in Tasmania —and would produce 300,000 tonnes per annum of green methanol for the shipping and aviation sectors. “ABEL’s green methanol production process uses 100 per cent renewable power, fresh water and biomass residues. Our production site in Bell Bay – and the one planned for Townsville – is clean in operation with virtually zero greenhouse gas emissions, water emissions or waste discharge,” Mr van Baarle said. “Townsville poses an ideal location for our second green methanol production facility due to the availability of wind and solar energy, along with the large amount of readily available biomass in the forms of sugar cane waste, invasive pest species, prickly acacia and woodchip.” Port of Townsville CEO Ranee Crosby said the proposed project presents benefits for the region that expand beyond ABEL’s direct investment, trade and employment opportunities. “This initiative aligns with Port of Townsville’s commitment to supporting sustainable energy projects and reinforces our position as a key facilitator of trade and economic growth,” Ms Crosby said. “The world’s shipping industry is facing enormous change as it seeks to decarbonise fleets globally to meet IMO’s long-term GHG reduction ambitions. “ABEL Energy’s project presents an exciting opportunity to provide green methanol marine bunkering facilities at the Port of Townsville, as well as exporting renewable energy to global markets.” The MoU outlines a collaborative effort between the Port of Townsville and ABEL Energy to undertake comprehensive investigations to assess the feasibility of the proposed project. Early investigation will include market assessment and analysis, identifying infrastructure and logistic requirements and working cooperatively to advance the project. ABEL Energy joins a growing list of proponents seeking to export renewable energy through the Port of Townsville, including Edify Energy, Origin Energy and Ark Energy Corporation.

Townsville Chamber of Commerce - JCU College of Business Law and Governance Mentoring Program 2024 For the past three years, Townsville Chamber of Commerce (TCoC) are proud to have partnered with James Cook University’s (JCU) College of Business Law and Governance (CBLG) to mentor students who are nearing completion of their degree to help them transition into the workforce. The TCoC-JCU Mentoring Program aims to build the skills and career development opportunities of JCU Business/Commerce/Law Students by connecting them to industry professionals for a shared learning experience.  Mentees can learn from an industry mentor, and mentors can develop their leadership and coaching skills by providing guidance to ambitious students who are at the start of their career journey. WHY BECOME A MENTOR? Do you remember what it was like transitioning from uni life to your career? Getting your first job and navigating the work environment? Becoming a mentor is a great way to give back and help guide the next generation of business professionals. It will also give you opportunity to develop personal skills in leadership, talent identification, addressing corporate social responsibility as well as improving your professional profile and the profile of your organisation. Mentoring will involve six one-on-one mentoring sessions, virtual check-ins and mentoring and networking events. Previous mentors of the program told us: “My career has benefited from the expertise and insight of many mentors over the years and this program has been an excellent opportunity to support and encourage the growth of an emerging professional in my field of expertise." "It has been a fantastic opportunity to use my experience to guide a young person and see their confidence grow." "I thought this would be about giving but I gained so much too." To find out more about becoming a mentor or mentee click HERE. WHY BECOME A MENTEE As a mentee, you can learn from an industry mentor who will provide guidance to you to help you at the start of your career journey.  Mentors will be JCU Alumni or Townsville Chamber of Commerce members who are in a similar industry or who have travelled a similar career path to you.  They will provide guidance relating to career planning, skill development, networking and job search techniques. This mentoring will help strengthen and build your network and gain the skills and confidence necessary to excel. Mentoring will involve a set number of one-on-one mentoring sessions, virtual check-ins and mentoring and networking events. Previous participants of the program told us:  “My mentor had been in my shoes not too long ago so they were really helpful in terms of being a relatable figure that I could easily contact and ask for help if needed.” “The mentor program allowed me to establish a network within the profession that provided valuable insights and knowledge.” “It really helped to build my confidence.” Program Overview: 1.     Submit your expression of interest before 5 April, 2024.  Apply here. 2.     Acceptance notifications by 5 April, 2024. 3.     5.30 pm, Wednesday 10 April, 2024. Induction session  4.     Mentors and mentees will participate in a minimum of six one on one mentoring sessions to be completed by end of September. 5.     Students will record meeting outcomes in a PebblePad workbook for feedback and verification by mentor. 6.     Mentors and mentees will have free access to Young Chamber Professional Development and networking sessions. 7.     Mid October - Final celebration event and program evaluation. To find out more about becoming a mentor or mentee click HERE. If you have any questions about the program please contact Natasha Buttler, JCU Marketing Lecturer.

At our Local Election Meet the Candidate’s Breakfast last week it was interesting to hear from 25 of the 27 candidates, about what they stand for and why we should vote for them. To have so many people passionate about making a difference to our city is heartening. It was wonderful to have high school students from Cathedral and Grammar at the event present on the day too especially after some sent in really considered questions for the candidates.    It’s so important that we involve young people in these discussions to gain an understanding of how democracy works. I remember various politicians coming to visit us in high school to talk about the importance of voting and one Politician , Sir Bob, who went on to represent our town for over 20 years, came into our school and spoke passionately to us about the power of every single vote and making sure we knew what and who we were voting for. This is why, as the only independent voice of business in Townsville we host these election events to ensure our members and the wider community have the information they need to make an informed decision.   If you missed our breakfast, you can watch the replay HERE   Pre-Polling is now open so you can cast your vote early at these locations: Greenwood Park Sporting Complex, Thuringowa Drive, KIRWAN RO Office, 2D | 1-3 Woodman Court, WEST END PCYC Townsville, 126 Wellington Street, AITKENVALE   Have a great weekend Heidi