A complex commercial project to redevelop an old cereal commercial site is on track to go ahead.

A controversial project to rebuild a cereal commercial building in Brisbane’s inner-city has been on track for approval for six years, with the first phase set to be completed in the coming months.

Key points:The cereal company’s new cereal factory will be built on a former industrial siteThe project will create about 1,000 permanent jobsThe Government says the project will generate $4 billion in jobs over 20 yearsThe Queensland Government has confirmed the first of two phases of the Brisbane cereal commercial factory will begin work this year.

The cereal industry is in turmoil with cereal manufacturers facing bankruptcy, but Queensland has been able to build on its past success by creating a cereal factory with the support of a federal government grant.

Key facts:The Brisbane cereal factory, which is due to begin work by 2020, will be the first in the world to be a large-scale commercial facility with a mix of industrial and residential use.

It will create 1,200 permanent jobs.

The Government is hopeful the project, which will create more than 4,000 new permanent jobs, will create around $4.3 billion in local and national economic activity.

Key projectsThe Brisbane project is set to create 1.8 million new jobs over the next 20 years.

“This project will be a key part of the Queensland Government’s economic recovery strategy,” Queensland Premier Annastacia Palaszczuk said.

“The Brisbane Cereal Company is a strong, local and highly-regarded employer, and it is a major contribution to the Queensland economy.”

Work will begin on the first stage of the project by the end of 2019, and the Brisbane Courier-Mail has more details on the new cereal facility’s opening date and the work expected to be undertaken there.

“As Queenslanders will see, this project is a big boost to our regional economy,” Premier PalasZczuk added.

“Our investment in the Brisbane Cereals factory will create thousands of new jobs and thousands of additional permanent jobs.”

The project’s second phase will also include residential, commercial and industrial use, and is expected to generate around 1,500 permanent jobs in Queensland.

Construction of the second phase of the cereal factory is expected on site by the start of 2020.

The project is part of a $5 billion plan to create more housing in Queensland, as part of efforts to address housing shortages.

The Brisbane Courier Mail has more on the Brisbane project.

Topics:business-economics-and-finance,business-environment,economic-trends,government-and-“partnerships”,community-and,environment,brisbane-4000,qld,australiaMore stories from Queensland

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