The value of investment projects being built in Western Australia has jumped 66.9 per in 12 months and is at its highest level since at least 2001.
Access Economics' latest Investment Monitor report states the value of projects under construction now stands at $23.3 billion, which is its highest ever total since the monitor was first published in 2001.
Treasurer Eric Ripper today said the June quarter figure represented a 21.4 per cent increase on the March quarter and a 66.9 per cent increase over the past year.
The Investment Monitor also lists $131.3 billion worth of current and potential investment - a $9.5 billion increase on the March quarter.
It says the value of projects under consideration is $49.7 billion, an increase of 23.8 per cent over the past year.
"The large value of current and potential projects for WA reflects the buoyant conditions in the resources sector and high levels of business confidence," Mr Ripper said.
Projects under construction include BHP Billiton's $1.7 billion Rapid Growth Project 3, while projects under consideration include Grange Resources' $1.7 billion Southdown magnetite project.
However, the boom is not without its challenges and the Investment Monitor cautions that many of the planned projects will be in competition for the same skilled labour.
"Addressing the skills shortage is a top priority for the Carpenter Government," the Treasurer said.
"For example, we have allocated an additional $31 million to fund more apprenticeships and traineeships and have cut the length of time for some apprenticeships to two years."
Mr Ripper also called on the Prime Minister, John Howard, to keep edown interest rates.
