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A new study from EY suggests southern New South Wales could see a boost of up to $3.8 billion to Gross Regional Product from Inland Rail over the coming decades.
The Inland Rail Regional Intelligence Report for southern NSW shows the investments spurred by Inland Rail could bring up to 670 full‑time jobs to the region in the 10th year of operation, demonstrating the Federal Government has the right plan for this landmark project.
Federal Member for Riverina and Deputy Prime Minister, Minister for Infrastructure, Transport and Regional Development Michael McCormack said the report recognises the long-term opportunities Inland Rail will deliver to southern NSW.
“Inland Rail will deliver unprecedented supply chain efficiencies,” Mr McCormack said.
“These efficiencies are going to attract additional investment as industry invests and expands alongside the alignment to take advantage of the lower-cost, greater reliability and faster transit time that Inland Rail provides.
“We’re already seeing evidence of this investment – just last year Pacific National opened a $35 million logistics hub outside Parkes. Hubs such as these provide sustainable, long-term jobs and opportunities for regions, opportunities which other industries will piggy back on.
“Once complete, Inland Rail will put 80 per cent of Australia’s population within overnight reach of Parkes, giving the manufacturing, processing and logistics businesses which establish and build in southern NSW a distinct competitive advantage.”
Finance Minister Mathias Cormann said the report was further proof that Inland Rail would make a significant and long-term economic contribution across southern NSW.
“What we’re seeing time and time again is evidence that our investment in Inland Rail will increase investment and grow jobs for many decades to come,” Minister Cormann said.
“Inland Rail will expand the capacity of our freight network, in doing so it will generate significant investment opportunities across the many and varied regions it crosses.”
Local Member for Farrer and Minister for the Environment Sussan Ley said Inland Rail was an important infrastructure project for our region because of the sustained, long-term opportunities it will attract.
“Our region is renowned for its agriculture and manufacturing excellence and the findings of this study show Inland Rail will help us prosper even further,” Minister Ley said.
The Inland Rail Regional Intelligence Report for southern NSW included the 26 Local Government areas that are about 50 kilometres east and 100 kilometres west of the Inland Rail alignment.
The southern NSW report is part of the economic study released in March 2020, building on the existing benefits outlined in the 2015 Inland Rail Business Case. Forecasts show regional Queensland, New South Wales and Victoria will see a boost of up to $13.3 billion in Gross Regional Product off the back of Inland Rail over the first 50 years of the rail line’s operation.
The Inland Rail Regional Intelligence Report for Southern NSW is available at http://www.InlandRail.gov.au
This article first appeared on www.miragenews.com
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