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Hunter Valley Region Investment Profile

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HUNTER VALLEY REGION INVESTMENT PROFILE DEDICATED TO BUILDING BETTER Fast Facts: • 600,000+ Residents • $45+ billion GRP (2018) • 45,000 + Businesses • 21,000 km2 Area • Average 1.6% Vacancy rates INTRODUCTION HUNTER VALLEY REGION Located just a couple hours north of Sydney, the Hunter Valley Region is the largest regional economy in Australia, generating an economic output of over $47 million per annum. The Hunter Valley is home to the Greater Newcastle region, the seventh largest urban area in Australia, which heavily contributes to the Hunter’s economic status. The widespread Hunter Region offers an array of coastal and valley landscapes, internationally renowned wine production and extensive mining resources. The attractive lifestyle draws a growing population, locals can enjoy a wide selection of adventures and attractions including mountain biking, bushwalking, kangaroo feeding and wildlife sanctuaries. An appealing mix of bays, golden sandy beaches and picturesque wineries attract not just tourists but life-long residents. Booming industries, a calendar of major local events, world class cultural and recreational attractions, high quality education and health facilities combined with the region’s natural beauty have combined to attract a growing population of families, businesses and opportunities. 3 POPULATION / GROWTH The largest regional areas in the Hunter Valley by population are Lake Macquarie, Newcastle, Maitland, Port Stephens, Cessnock, Singleton, Muswellbrook, Upper Hunter Shire and Dungog Shire. The Hunter Valley is home to over 9% of New South Wales’ total population, making it the 2nd most populous city in NSW and the 8th most populous urban region in Australia. There are currently over 700,000 people residing in the Hunter Region (ABS) with the population estimated to rise over 18% to 850,000 in the next 20 years. The population increase will provide a growing workforce to the needs of developing businesses and industries. 4 ECONOMY Australia’s largest regional economy, Hunter’s Gross Regional Product is estimated to be approximately $50 billion, representing about 3% of the NSW Gross State Product. Contributing heavily to the region’s successful economy, the Port of Newcastle is the largest coal exporting port in the world, valued at almost $18.5 billion in 2016 -17. To back the NSW Government’s new approach to supporting growth and business potential, a $1.3 billion Regional Growth Fund has been developed to deliver infrastructure which will promote regional economy expansion. The Regional Growth Fund is designed to activate local economies and create thousands of new jobs by building and upgrading current infrastructure, improving facilities and investing in sports, arts and culture in eligible regional communities. In addition to an array of programs covered under the new Regional Growth Fund, a $300 million Regional Growth – Environmental and Tourism Fund will support environmental assets, tourism infrastructure and attractions to boost the region’s visitation and spend growth. 5 INFRASTRUCTURE / DEVELOPMENT The NSW Government have set major goals for the Hunter region to expand on its infrastructure, economy and residential and visitor growth. Over $4 billion is being invested in regional and rural NSW on health projects alone. One of the goals for the region is increasing capacity to hold and attract major events. By working with local governments and industries, the region is working towards increasing the capacity to attract and hold major events to support job growth and boost the economy. NSW will see more than 170 new and upgraded schools thanks to the NSW Government’s four-year $6 billion investment plan. The largest investment in public education infrastructure history of NSW will see a record $1.3 billion spent on school maintenance over the next four years. Some major projects currently in development are: Maitland Hospital NSW Government is investing $470 million to the development of the Maitland Hospital in Metford. The new state-of-the-art facility will deliver a new emergency department, more surgical theatres and a new day chemotherapy service, providing exceptional health care for the community. Amongst that, several new services to be provided at the new Hospital include; critical care services for adults and babies, including a special care nursery, mental health services, expanded oral health service and a range of ambulatory care and outpatient clinics. The new development is expected to open in early 2022. 6 New England Highway upgrade between Belford and the Golden Highway One of the many projects under the Rebuilding NSW Plan is the upgrade to the New England Highway between Belford and the Golden Highway. The NSW Government has dedicated $85 million for road and transport upgrades to improve traffic flow, travel times and safety for motorists. The proposed upgrade includes widening the New England Highway with two travel lanes in each direction, replacing the existing right turn movement with a right turn flyover and establishing a road corridor for future development of the New England Highway towards Singleton. Benefits include increased capacity and connectivity for the efficient and reliable movement of freight, improved safety, increased capacity to cater for the predicted increase in traffic movements due to future growth in the Hunter and allow for access to existing and future adjoining land uses. Newcastle Airport Vision 2036 The Greater Hunter region is entering a new and exciting phase of revitalisation that will see it flourish into an increasingly important economic and tourism destination. As a major gateway into the region, Newcastle Airport is central to achieving the region’s growth plans. In early 2018, Newcastle Airport released a visionary plan for 2036 to meet the needs of the local community. The 2036 Newcastle Airport Vision outlines a proposed development to deliver terminal transformation with facilities expanded over two levels, additional food, beverage and retail businesses, international services implemented into the facilities and much more. During the development, the Airport is expected to produce more than 3,000 additional jobs and passenger numbers are anticipated to double, possibly even triple current numbers travelling through Newcastle Airport by 2036. Supported by the NSW Government, the Master Plan provides a clear direction and capitalises on the role of the Airport in stimulating economic and social prosperity. NSW Department of Education Investment Plan NSW will see more than 170 new and upgraded schools thanks to the NSW Government’s four year $6.7 billion investment plan. The largest investment in public education infrastructure history of NSW will see a record $1.3 billion spent on school maintenance over the next four years, including improvements to selected Hunter region education facilities to cater to the current and projected growth of the region. 7 ROADS & TRANSPORT New South Wales’ largest non-capital city of Newcastle offers world- class transport gateways in the Port of Newcastle and Newcastle Airport. The region’s road and rail networks provide important freight connections between Sydney, Brisbane and inland NSW. The NSW Government’s continued investment in the public transport system and infrastructure over the next two decades will cater for the region’s growing population. The Hunter Region is easily accessible by car with the 878-kilometre long New England Highway, forming part of Australia’s National Highway system, and forms part of the inland route between Brisbane and Sydney. Major roads servicing the region also include The Hunter Expressway, Tourist Drive 33, The Hunter Valley Way and M1 motorway. The Hunter Region is also accessible by public transport with the Central Coast and Newcastle Line train services running from Sydney’s Central Station to various Newcastle suburbs. The Hunter Line train services run between Newcastle and the Hunter Valley towns of Maitland and Singleton. The Hunter Valley bus network also services areas such as Singleton, Maitland, Newcastle, Edgeworth, Toronto and Morisset. 8 LIFESTYLE Encompassing more than 12,000 square kilometres of land, New South Wales’ Hunter Region offers endless opportunities for exploration, family fun and relaxation. Explore and experience the array of natural reserves, lakes and parks, or travel to the coast to relax upon the variety of beaches available. Nature The Hunter Valley offers an endless supply of nature and adventure. Some of the Hunter’s major attractions include Hunter Valley Gardens, an assortment of National Parks, and countless local parks and playgrounds. Adventure and Family Attractions Get active in the Hunter Valley and take the kids out to the Hunter Valley Adventure Centre, Hunter Valley Horse Riding and Adventures, Hunter Valley Zoo, Cessnock Performing Arts Centre, and the Hunter Valley Cheese Factory. You will find an array of rolling vineyards, mountain ranges and ancient rainforests across the Hunter Valley. Whether it’s golfing, fishing, hiking, biking, or even feeding kangaroos, the Hunter Valley has an adventure destination to suit all ages and tastes. Retail The Hunter Valley boasts a number of strong retail centres including: • Cessnock Plaza • Singleton Centre • Stockland Green Hills Shopping Centre • Hunter Valley Gardens Shopping Village • Junction Fair Shopping Centre • Thornton Shopping Centre 9 MEDICAL The Hunter Valley is serviced by the Hunter New England Local Health District (HNELHD) to provide public health
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