Insurance giant Youi recently announced it will build a massive new global headquarters on Queensland’s Sunshine Coast. Take a closer look at the decision and what it means for the local building industry.
What You Need to Know About Youi’s New Headquarters
Youi will move its corporate headquarters from Birtinya to Sippy Downs, a booming Sunshine Coast suburb. The facility, worth an estimated $80 million, will be the largest non-government development in the Queensland region’s history, and one of the largest regional developments in Australia.
What Are the Implications for the Local Commercial Building Industry?
The Master Builders Association believes Youi’s decision to move to the Sunshine Coast will buoy the local commercial construction industry by creating around 700 jobs. Youi representatives have confirmed local contractors will be favoured.
“We will try our best to use local labour, local skills, and local contractors to do the job, so that we can push some of that money back into the community,” explained Howard Aron, Youi Group’s chief executive officer.