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Property News

WA continues to attract investment

February 14, 2012

Western Australia might seem far away from major Australian centres like Sydney and Melbourne, but the economic potential of the area may be worth the trip.

The largest state in Australia continues to rein in investment contracts, many from the mining sector.

A report released earlier this month by the Deloitte Access Economics December quarter 2011 Investment Monitor revealed that the combined total of "committed to" and "in progress" projects in the state was worth approximately $140.1 billion.

Just today (February 14 2012) it was announced that 62 local companies were awarded $14 billion in contracts through the resources industry.

According to commerce minister Simon O’Brien, the most encouraging result of the agreements will be the subsequent jobs coming forth.

He said: "For example, the recent $600 million FMG contract awarded to RCR Tomlinson will result in 500 to 600 jobs. Similarly Clough’s new Wheatstone contract will result in 300 new positions."

All of the investment and job potential in Western Australia may even attract residential property investment in the area, as the growth is expected to continue for years to come.

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