Hunter Business News

Green light for F3 extension
Prime Minister Kevin Rudd and NSW Premier Nathan Rees have announced funding for the new $1.65 billion Hunter Expressway between the F3 and the New England Highway. Construction is expected to start between 2010 and 2013 and will support up to 800 local jobs, boosting economic activity in the Hunter region.

The new 40km dual carriageway will cut travel time between the Central Coast and the Hunter Valley, and also between Newcastle and the Hunter Valley, by around half an hour – easing traffic congestion on the New England Highway through Maitland where traffic is forecast to grow at around 4% per year. It will also meet the growing freight demands of the region, which are forecast to increase by 30% in coming years.

As part of the $22 billion infrastructure investment in this year's Budget, the Federal Government will invest $1.45 billion and the NSW government will invest $200 million. The Prime Minister and Premier jointly made the announcement at the turning of the first sod on the $134 million Minimbah Third Rail Track project – one of six projects delivered in the Hunter by the Australian Track and Rail Corporation as part of the Rudd government's December 2008 Nation Building statement. The project is a 10.8km new rail track and will support up to 150 jobs during construction.

The Hunter Expressway announcement was good news for the Hunter Economic Zone (HEZ) near Kurri Kurri, in which the road will pass right by its doorstep. It coincided with the Minister for Planning approving Part 3A Concept Plan and Major Project Application for the HEZ – Australia’s largest contiguous business estate.

The HEZ is a fully integrated and master planned industrial estate which, upon completion, will generate approximately 16,000 jobs and revenues in excess of $2 billion. It includes a subdivision layout of approximately 100 hectares of employment lands and the development and use of a major wall and floor panel manufacturer, WIPS Management. Construction will commence of the $68.4 million WIPS facility in the coming months.

Hunter sells itself as economic powerhouse
An initiative by a number of Hunter business heavyweights along with some of the region’s major companies will see the Hunter take on Australia’s major growth regions marketing itself as an economic powerhouse. To be known as Hunter Advantage, the marketing initiative will combine a national advertising campaign with an internet site to build a strong case for business and industry to invest in or relocate to the Hunter and stimulate growth.

A spokesman for the group said, “This is about everyone working together to attract economic prosperity and jobs to our region. The Hunter has so much to offer and we’ve got to promote it as a great place to do business.” In spite of predictions that the Hunter could be caught up in the global financial crisis, some of the region’s most influential business people are saying the Hunter could reap long-term prosperity and jobs by promoting its advantages.

The project has been set up with seed-funding from the private sector, and the group is working in with the State Government through the Hunter Economic Development Corporation. Advantages the Hunter has over other regions include availability of commercial land, a skilled workforce, affordable residential prices and a good lifestyle. That together with the region’s educational facilities, airport, access to roads, rail, the port, water and power makes the Hunter a most desirable location for business.

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