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EY’s Inland Rail Regional Intelligence Report has highlighted southern New South Wales’ potential for Inland Rail investment, with the study suggesting the region could see a boost of up to $3.8 billion to Gross Regional Product from Inland Rail over the coming decades.
The report for southern New South Wales shows the investments spurred by Inland Rail could bring up to 670 full‑time jobs to the region in the tenth year of operation.
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 New South Wales.
“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.”
Federal Finance Minister, Mathias Cormann, said the report was further proof that Inland Rail would make a significant and long-term economic contribution across southern New South Wales.
“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,” Mr 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,” Mr Ley said.
The Inland Rail Regional Intelligence Report for southern New South Wales included the 26 Local Government areas that are about 50km east and 100km west of the Inland Rail alignment.
The southern New South Wales 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.
To read the Inland Rail Regional Intelligence Report for Southern NSW, click here.
The post Southern NSW to see $3.8 billion boost thanks to Inland Rail appeared first on Infrastructure Magazine.
This article first appeared on infrastructuremagazine.com.au
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