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Hunter Investment Prospectus 2021 HUNTER INVESTMENT PROSPECTUS YOUR SMART BUSINESS, INVESTMENT & LIFESTYLE CHOICE THE HUNTER REGION THE HUNTER REGION AUSTRALIA’S LARGEST AUSTRALIA’S LARGEST REGIONAL ECONOMY REGIONAL ECONOMY The Hunter Region in NSW is Australia’s largest regional economy, with an economic output of around $57 billion pa and a population of over 747,000. Australia’s largest The Port of Newcastle regional economy with is one of Australia's It includes Greater Newcastle - the seventh over $57 billion annual largest ports with 171 million tonnes largest urban area in Australia. output and over 54,000 businesses of cargo in 2019. It is a vibrant and diverse centre with a focus Over 1.2 million on technology, research, knowledge Close proximity to annual passenger major Australian sharing, industry and innovation. It has a movements through markets dynamic start-up sector and many global Newcastle Airport companies across industries including (pre-COVID) aerospace, advanced manufacturing, mining and defence. Global top 200 Population of university 747,381 The region is situated on Australia’s main (ABS JUNE 2019 ERP) east coast transport corridor. It has sophisticated infrastructure, international gateways including an airport and deep sea Much lower property Greater Newcastle is port, its own media outlets and university costs than capital cities Australia’s 7th largest and a talent pool that is increasingly STEM city skilled and job ready. The Hunter combines an innovative economic and business environment with a Highly skilled Enviable lifestyle high standard of living, proximity to workforce Australia's largest city, Sydney and easy connections to Australia’s other capital cities. It’s a smart business, investment & lifestyle choice. Welcomes Contents FEDERAL GOVERNMENT Published by: Government Welcomes 4 The Hunter region offers an enviable lifestyle and strong The second is the Melbourne to Brisbane Inland Rail, with economic prospects poised for continued growth. construction underway between Parkes and Narromine. The An economic powerhouse 6 future connection of Inland Rail to the Port of Newcastle through Hunter Business Publications Pty Ltd This region is a desirable place for any business looking to relocate. Workforce the existing, world-class Hunter rail network is exciting many PO Box 853, Hamilton NSW 2303 10 neighbouring regional communities. Phone: +61 2 4062 8133 Training & Education 11 The Hunter knows where it’s heading, enjoying a strong Email: [email protected] Innovation & Creativity 14 consensus across all levels of government and industry. We’re also supporting vocational education and training through an expanded Australian Apprentice Wage Subsidy Trial to Exporting 18 For our part, the Federal Liberal and Nationals Government is provide 3,200 regional Australians with an opportunity to secure Printed by: Business Services 19 providing policy stability and certainty for local leaders who are an apprenticeship. NCP Printing Major Industries 20 making decisions for their businesses and their communities. 14 Channel Road, Mayfield West NSW 2304 Major Projects 37 We’re working on many fronts to build better regions. Among Phone: +61 2 4926 1300 One way we’re delivering is by investing a record $100 billion in them is a record investment in infrastructure and a focus on Email: [email protected] building stronger connections, through our 10-year infrastructure Infrastructure & Development delivering skills. Web: www.ncp.com.au investment pipeline. Transport & Access to Markets 43 The Hunter is well placed to benefit as Australia continues its Port of Newcastle 45 Alongside major existing investments in the Pacific Highway, we’re economic growth and I congratulate the Hunter Investment Disclaimer: While every effort has been made to Airports 48 providing $1.6 billion in funding for the M1 Pacific Motorway Prospectus in supporting the development of this wonderful region. ensure that the information in this publication is Extension to Raymond Terrace, $1 billion for the Princes Highway, reliable and accurate at the date of printing, Hunter Utililities 50 Business Publications give no warranty regarding $700 million for the Newell Highway corridor and $140 million for the accuracy of such information and will not be Development across the Hunter 52 the Tenterfield and Newcastle road corridor. responsible for any consequence resulting from misdescription or errors contained herein. An Enviable Lifestyle 66 Two rail projects are also generating great interest in Newcastle. Unless otherwise agreed in writing, all rights in the Prospectus vest in, or are assigned upon receipt to, Perin Davey Hunter Business Publications Pty Ltd. Local Government Areas 69 The first is a proposal for a Faster Rail link to Sydney, which we are Senator for New South Wales investigating with our state counterparts. Business Organisations 78 Government Assistance 82 Supporters 83 STATE GOVERNMENT NSW’s largest regional economy, the Hunter is home to major The Williamtown Special Activation Precinct will also deliver industries, sophisticated health and education institutions and thousands of new highly-skilled jobs in the defence and world-class infrastructure. It is also one of the State’s most aerospace industries. Already home to Australia’s F-35 fleet and liveable locations, as any of its 750,000 residents will testify. the primary Department of Defence fighter pilot training base, Williamtown presents exciting prospects for local and With such strong foundations, the Hunter is ideally placed to build international enterprises. the industries and jobs of the future and attract the highly skilled workforce needed to drive its continued development. Further opportunities beckon in the Upper Hunter, which supplies around 60% of NSW’s power needs, along with resources, The NSW Government is proud to outline its vision for the Hunter mining expertise and agriculture. Building on these capabilities, and the many opportunities to be realised here. the Upper Hunter is set to expand into new growth areas like agribusiness and renewable energy and export its expertise in In the heart of the region, the historical waterfront city of Newcastle, mining, advanced manufacturing and professional services to we are investing $650 million to create vibrant public spaces, new the world. housing and improved transport connections. This transformation will bring people back to the city centre and boost It is an exciting time to live, work and pursue business in the the CBD economy while enhancing the city’s unique Hunter. The region is pulsing with activity and potential and we heritage and culture. welcome your interest. Also in Newcastle, the $780 million John Hunter Health and Innovation Precinct will deliver high quality health facilities for the region and encourage innovative health, education and research Gladys Berejiklian MP partnerships locally and beyond. Premier of New South Wales Image courtesy of Singleton Council 4 2021 HUNTER INVESTMENT PROSPECTUS 2021 HUNTER INVESTMENT PROSPECTUS 5 Economic Powerhouse The Hunter Region of New South Wales is unique in many ways. The Hunter currently comprises over 8% of economic activity in agriculture continuing as major contributors. It has, however, Often referred to as the “powerhouse of New South Wales” and “a New South Wales, with estimated regional output of over $57 undergone substantial structural changes over the past two State within a State”, the Hunter combines a vibrant, diversifying billion — making it Australia’s largest regional economy. decades, including considerable diversification in industry sectors economy with a proud history, strong identity, a great lifestyle and expansion in broad service sectors. and a range of competitive advantages as an investment and According to Deloitte Access Economics, the Hunter economy is business location. It is the largest regional economy in Australia. projected to grow at around 2.4% pa to the year 2036, Those not familiar with the Region are invariably surprised at the significantly higher than the rest of New South Wales where strength, vibrancy and diversity of the Hunter economy which Covering an area of nearly 33,000 sq km, the Hunter is roughly annual economic growth is expected to be around 2.1% pa over stretches far beyond the traditional industries of coal, steel and located between latitudes 31.5° and 33° south and longitudes the same period. wine which are often associated with the Region. 150° and 152° east. It is the most populous regional area in Australia. With over 747,000 people (Australian Bureau of In October 2016, the New South Wales Government released the The Region is embracing innovation as a major economic driver, Statistics June 2019 estimated resident population), the Hunter Hunter Regional Plan 2036 which aims to strengthen the Region’s with industries in the Hunter characterised by “can do” has significantly more people and greater economic output than economic resilience, protect its well-established economic and attitude that is fuelling sustained economic growth and a secure Tasmania, the Australian Capital Territory or the Northern employment bases and build on its existing strengths to foster future. These factors, combined with the Hunter’s numerous Territory. greater market and industry diversification. The Plan highlights other competitive advantages, have seen billions of dollars the growth potential of the Hunter, including an estimated invested in recent years by a host of companies, including major 64,000 additional
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