Sensational-Adelaide.com

SA embraces a new era of optimism
Article from: The Advertiser

September 15, 2007 12:00am

LOOK east. South Australia is facing a new dawn.
SA is a state - a geographically defined economic region - on the move.



It is no longer being dragged along by a booming federal economy or prosperity on the eastern seaboard.

SA is defying interstate trends and defining its own economic growth, its own future.

For the first time since the Dunstan era of the early 1970s, SA – and the people of SA – are again proud, confident and independent.

They are no longer introspective, hesitant and apologetic. They no longer feel they are singing in the chorus line behind performers from Sydney, Melbourne and Brisbane.

That period of inferiority and navel-gazing, created largely by the $3.2 billion State Bank collapse in the early 1990s, has been despatched to history.

Adelaide is at the hub of a dynamic regional economy, with much of the new-found prosperity and confidence being generated from the rural centres.

Politically, for the first time since the mid-1990s, SA has an effective Government challenged by a viable Opposition led by Martin Hamilton-Smith.

The Government has wrested back SA's triple A economic rating but it has been reactive rather than pro-active.

At last, after years of neglect, serious money is being earmarked for infrastructure.

The upgrading of South Rd, the Port River bridges, the northern expressway, the reconstruction of Henley Beach Rd, upgrades of port facilities and even the extension of the tram down King William St improve community facilities.

Business is being boosted by the explosion of investment in the mining and defence industries and niche industries like aquaculture and the apparently endless demand for SA wine.

Retail business is sound, cars continue to sell and the housing sector – new and resale – is commanding price growth which has even surprised the sluggish Sydney market.

The arts are growing, with the 2008 Festival of Arts, the Fringe, Womadelaide, SALA and new events like OzAsia and the Guitar Festival. Meanwhile, the number of shows at the Festival Centre have doubled in the past year.

The environment is keeping pace with changing community demands. Wind and solar power are making more than token energy contributions but despite promises of desalination plants and increased hill storage capacity, reliable water supplies cannot yet be guaranteed.

All South Australians should embrace this changing community mood, this new era of optimism and prosperity.

People must not retreat into introspection and negativism. Change must be accepted and celebrated. As a community, we must move decisively to capture and hold the benefits of the expanding global economy.

The comfort of isolation and insularity no longer exist in a world of high technology and instant global communications.

We must continue to march forward in an unfamiliar and, at times, uncomfortable world of communications and technology, or become bogged in the frozen and static past.

Responsibility for all editorial comment is taken by The Editor, Melvin Mansell, 31 Waymouth St, Adelaide, SA 5000

Will wrote:I am convinced SA has entered a new era. However, it would be great if there were more article like this one in the paper, and even ads onTV, to remind everyone and convince them that SA has risen from the ruins.

crawf wrote: As for number plates, I really wish the State Government would hurry up and release the slogan "SA: A Brilliant Blend".

Mining boom means city boom

Aaron Coultate

18Sep07

THE mining exploration boom in South Australia's outback is the catalyst behind a record year of development in the Adelaide CBD, industry experts say. Figures provided to the City Messenger show 742 development applications with a total value of $575 million were lodged with the City Council between January 1 and August 31.

The biggest applications were for office towers, apartment blocks and sporting ground upgrades.

Last year's record total of $525 million worth of development applications has already been eclipsed.

Knight Frank managing director Don Crouch was not surprised by the figures.

``The exploration boom is what's driving it ... there's a new found confidence in Adelaide,'' he said.

``It's all at the stage of exploration and feasibility studies, but exploration booms naturally lead to resource booms.''

He said BHP Billiton's proposed $7 billion-plus expansion of the Olympic Dam copper and uranium mine at Roxby provided confidence.

``It's not new money (in the city). It's existing Adelaide developers with new found confidence,'' he said.

Mr Crouch doubted the city's skyline would rise higher than the 137m Westpac tower.

``It's not a big issue. As long as developments are relative to the appearance of our city,'' he said.

``Taller developments might be appropriate in Sydney, but we're not in Sydney.''

With four months of the year to go, the council is close to doubling the entire value of development applications in 2005 ($343 million) and 2004 ($391 million).

Still in the pipeline are the $75 million upgrade of Adelaide Oval, the $55 million revamp of Victoria Park and a $250 million apartment/shopping complex at North Adelaide's LeCornu site.

Property Council executive director Nathan Paine echoed Mr Crouch's sentiments, saying there was a renewed confidence in the local economy.
``Mining, resources, defence contracts, it's all contributing,'' he said.

``You have to remember that were coming off historic lows.''

City CEO Stuart Moseley said the office market in particular had been ``far more buoyant for far longer'' than expected.
Mr Moseley said the ``leading indicators'' showed this boom would continue.

``In practice it can't (continue) of course so it will come to an end at some stage.''