Big business investment confirms confidence in Sunshine Coast
  • Thursday 01 March 2018
Youi HQ

The Sunshine Coast has another symbol of its growth as a major economic region with the official opening today (March 1) of insurance giant Youi’s new $72 million global headquarters.

The state-of-the-art building, located in the Sunshine Coast Technology Precinct, is home to more than 1300 skilled workers and continues Youi’s remarkable success story since setting up business as a start-up on the Sunshine Coast with just 30 employees in 2008.

It is hoped the global HQ will eventually house 3000 employees.

Mayor Mark Jamieson, who took part in today’s official opening ceremony, said Youi and council continued to build on a strong relationship that goes back almost 10 years.

“Our Sunshine Coast has become one of the strongest regional economies in Queensland and is enjoying some of the highest levels of business confidence seen in the state,” Mayor Jamieson said.

“Youi’s success story shows that our region offers great opportunities to establish, grow and operate a global undertaking from the region.

“Other large corporates, such as Stellar Asia Pacific and Budget Direct, have also realised these benefits and made the Sunshine Coast their choice for doing business.”

Youi CEO Frank Costigan said the decision to build at Sippy Downs reinforced the company’s commitment to growing with the Sunshine Coast community, providing additional employment opportunities and helping strengthen an already buoyant economy.

“The Sunshine Coast was a great destination choice for our multi-million dollar headquarters,” Mr Costigan said.

“The Sunshine Coast provides us with access to talented staff matched by a great place to live and work and, with the delivery of other major property and infrastructure projects, it provides a platform for businesses like ours to grow and develop.”

According to a KPMG review of the performance of council’s Regional Economic Development Strategy, the Sunshine Coast economy is well on the way to achieving its 20-year goal to grow Gross Regional Product to $33 billion in 2033, accompanied by an increase in high-value employment, exports and household income.

Mayor Jamieson said smart, innovative companies wishing to grow their business needed to build in a smart and creative region which is exactly what the Sunshine Coast offers.

“I encourage the rest of Australia, and beyond, to consider the Sunshine Coast for their corporate headquarters,” he said.

“We are perfectly positioned near Asia, and with access to both a new city centre and the latest international airport currently under construction, the future of doing business is right here on the Sunshine Coast.

“With $12.5 billion in public and private investment, including major infrastructure investment, the region is emerging as a world-class business destination."

Sunshine Coast Chamber Alliance President Michael Shadforth said Youi was a great example of what’s possible on the Sunshine Coast and encouraged other corporations looking to expand to consider the Sunshine Coast.

“The Sunshine Coast is an area that embraces the new economy and is set-up perfectly for businesses to connect to the rest of the world with the projects it’s working on in the region,” Mr Shadforth said.

“The Sunshine Coast embraces the entrepreneurial spirit and our large pool of talented people looking for an enriched and connected lifestyle is growing all the time.”

Mayor Jamieson said he had made no secret of his desire to work with other tiers of government to ensure the Sunshine Coast positions itself as Australia’s leading smart city-region.

“We are making significant progress on an international broadband submarine cable which will connect the Sunshine Coast directly with global communications systems, providing a potential value of $700 million annually to the economy of the region and $1.1 billion annually to the Queensland economy,” he said.

“The combination of this region’s competitive business environment, award-winning reputation for innovation, accessibility to markets, new infrastructure, highly-skilled workforce and idyllic lifestyle makes the Sunshine Coast a location of choice for business and investment.”

The Sunshine Coast was again named a Smart21 community for 2018 by the Intelligent Community Forum (ICF), identifying the region as one of the top 21 communities in the world for economic, social and cultural development in the digital age.