Deputy Prime Minister and Member for New England Barnaby Joyce today joined State Member for Tamworth Kevin Anderson and Tamworth Region Mayor Col Murray at the Tamworth Global Gateway Park (TGGP), an enterprise park and logistics hub set to boost Tamworth’s growth as a regional centre over the next twenty years.
The development of the Tamworth Global Gateway Park and its strong early lot sales are an important example of the rising industrial and commercial investment that is occurring around Tamworth. When completed, investment into the new development will total around 100 million dollars. This investment has created confidence in the market, with five times as many sales of industrial land in the region occurring over the last financial year compared to the ten-year average. This investor confidence could also be partly attributed to the announcement of the Dungowan Dam project helping to ease fears about water security in the region after a record-breaking drought.
To date, 75% of the available lots in Stage One are under contract, with many of these investors operating nationally and internationally.
Deputy Prime Minister and Member for New England Barnaby Joyce said these strong sales will boost investment as the project moves into the later stages.
“The benefits won’t only be seen here at the Tamworth Global Gateway Park, but across the entire region.”
“It’s an exciting time for start-ups and established businesses in New England, and the Coalition is committed to helping them grow, already committing more than $6.7 million to the TGGP,” Mr Joyce said.
Col Murray, Tamworth Regional Mayor said that multi-national corporations choosing Tamworth as their new regional hub will give local businesses the confidence to expand and grow.
“We have attracted high-quality investors so far and expect that trend to continue. Investment from big business not only creates local jobs, but it tends to create opportunities for local entrepreneurs and small businesses as well.
Stage One of the TGGP, representing a $36.6 million investment from all three tiers of government, which involves several infrastructure projects necessary for further development of the Park is progressing steadily. The Country Road Roundabout and Intermodal Access Road are now both 60% complete, with concrete being poured for the roundabout this week. Additionally, the Goddard Lane Upgrade and Trunk Stormwater Drainage projects are now 95% and 70% complete respectively.
The next stage of works, which will involve the creation of roads, installation of services and landscaping is on track to commence next year.
Being delivered by Transport for NSW and John Holland Rail, the rail line re-activation required for the operation of new Intermodal Freight Facility at the site is almost complete, while work on the Intermodal Freight Facility itself will begin in the coming months.
Tamworth MP Kevin Anderson said “The Tamworth Intermodal Rail Line represents a $35.4 million NSW Government investment into Tamworth’s future growth as a leader in manufacturing, agriculture and business.
The rail line is now live and ready for freight to start moving through. With work on the terminal due for completion early next year, our communities will begin to reap the benefits of this vital piece of infrastructure, adding new infrastructure to our local economic recovery.”
The first phase of development works relating to Goddard Lane, Country Road Roundabout, the Trunk Stormwater Drainage Infrastructure, and the Intermodal Access Road are jointly funded by the three levels of government. This consists of $6,734,291 from the Australian Government under its Heavy Vehicle Safety and Productivity Program and Building Better Regions Fund, $14,360,000 from the NSW Government and $15,511,000 from Council.