Suburban Rail Loop Project Commences
Set to revolutionise Melbourne’s transport network, the Suburban Rail Loop Project is…
5 August 2020
Two new Inland Rail studies have found prospective investment opportunities that could lead to hundreds of full-time employment opportunities and boost Gross Regional Product by $13.3 billion.
The EY-led Victorian Regional Intelligence Report found investment opportunities in Victoriaâ€™s agricultural, manufacturing, freight and logistics sectors developing from the operation of the Inland Rail.
The largest winners will be food processing, transport logistics and manufacturing facilities.
Deputy Prime Minister and Infrastructure, Transport and Regional Development Minister Michael McCormack said the report had predicted 940 full-time jobs to the region in the 10th year and an increase of up to $4.6 billion to the gross regional product for the study area over the first 50 years of Inland Railâ€™s operation.
â€œThis nation-building infrastructure lays the foundation for regional Victoriaâ€™s future success, through job creation and economic stimulus,â€ McCormack said.
â€œVictoriaâ€™s agriculture and manufacturing sectors will be instrumental to the regionâ€™s economic recovery and growth, not only to keep our supermarket shelves stocked but our international trade routes open for business.â€
Federal Member for Nicholls Damian Drum said in these unprecedented times the Federal Government was laying the tracks for regional Victoriaâ€™s economic recovery over the coming months and years.
â€œOur agricultural sector will play a significant role in the future success of our local communities,â€ Drum said.
â€œWe will bolster Victoriaâ€™s agriculture supply chains by providing the crucial links between long-haul rail, road and warehouse, as well as between farm-gate and every mainland state capital and international port.â€
The Victorian Regional Intelligence Report studied the 49 Local Government Areas that are around 50km east and 100km west of the Inland Rail alignment.
Another EY study has indicated southern New South Wales could also see an increase of up to $3.8 billion to its Gross Regional Product from Inland Rail over the decades to come.
The Inland Rail Regional Intelligence Report for southern NSW indicates the investments prompted by Inland Rail could bring up to 670 fullâ€‘time jobs to the region in the 10th year of operation.
McCormack said evidence of investment is already underway with the opening of a $35 million logistics hub outside Parkes.
â€œHubs such as these provide sustainable, long-term jobs and opportunities for regions, opportunities which other industries will piggy back on,â€ he said.
â€œOnce complete, Inland Rail will put 80 per cent of Australiaâ€™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.â€