HUNTER INVESTMENT PROSPECTUS 2014 AN INITIATIVE OF 4 | GOVERNMENT WELCOMES CONTENTS | 5 FEDERAL GOVERNMENT Regional Australia makes a significant contribution to our nation and the Australian Government is committed to helping communities pursue and seize opportunities available to them. Federal and State Government Welcomes 3 Our vision is based on driving real competitive advantages and productivity improvements through public and private investments. Delivering on this Introducing the Hunter 7 commitment involves improving infrastructure as well as supporting small business and entrepreneurship. History and strengths I commend RDA Hunter for its initiative in developing the Hunter Education and Training 15 Investment Prospectus 2014. This prospectus provides information about the region’s competitive advantage and future growth prospects Covering the extensive services available in the Hunter and provides a useful resource for potential investors. It showcases “This Government opportunities for new ventures in a growing regional economy and looks forward to highlights the benefits that can be derived from future investment in the Economic Strength and Diversification 19 working with all Hunter region. The workforce, major industries and services regions to capitalise on opportunities This Government looks forward to working with all regions to capitalise on presented by new and opportunities presented by new and emerging national and international Infrastructure and Development 42 emerging national markets. Major projects, transport, port, airports, utilities,industrial areas and commercial development and international markets.” The Hon Warren Truss, MP The Hon Deputy Prime Minister and Minister for Infrastructure and Regional Warren Truss MP Innovation and Creativity 67 Development How the Hunter is growing its reputation as a centre of innovation and creativity Living in the Hunter 76 Community and lifestyle in the Hunter Business Organisations 84 STATE GOVERNMENT The NSW Government recognises the vast potential of the Hunter. As a Government Assistance 86 growing economic powerhouse and a key contributor to both state and national economies, the NSW Government is committed to supporting the region’s continued growth. Areas of the Hunter 87 Providing a snapshot of the 11 areas in the Hunter We are building on the region’s areas of excellence and competitive advantages including mining, defence, tourism, agriculture, energy, health and education industries. The Hunter is the centrepiece of the 2013-14 NSW Budget following the announcement that our Government will undertake a long-term lease of Newcastle Port of which $340 million of the proceeds would be directed towards the revitalisation of central Newcastle, to which the Government has already committed $120 million. “The NSW Government Through this significant investment, our government can address and recognises the vast fast-track additional infrastructure needs and support continued growth potential of the and economic development in the region. Hunter. As a growing For the last eight years the Hunter Investment Prospectus has played an economic powerhouse important role in marketing the Hunter and promoting the region as one and a key contributor of the State’s most significant areas for industrial, retail and commercial to both state and activity to both local and foreign investors. national economies, the NSW Government We look forward to working cooperatively with stakeholders and industry is committed to to unlock the region’s productive potential to build a broad based supporting the economy and ensuring a bright future for the Hunter. region’s continued growth.” The Hon Andrew Stoner MP The Hon NSW Deputy Premier Andrew Stoner MP Minister for Trade and Investment Minister for Regional Infrastructure and Services PROSPECTUS 2014 2014 HUNTER INVESTMENT PROSPECTUS INTRODUCING THE HUNTER | 7 The Hunter Region of New South Wales is unique in attitude, an embracement of innovation and a variety many ways. Often referred to as the “powerhouse of of significant competitive advantages provide the New South Wales”, the Hunter combines a vibrant, Hunter with a very strong economic outlook. diversifying economy with a proud history, strong identity and a great lifestyle. Although the global financial crisis resulted in reduced activity in recent years, commercial growth, Covering an area of over 29,000 sq km, the Hunter particularly around the major centres, shows strong consists of 11 Local Government Areas and is roughly long term growth. In Newcastle in particular, the located between latitudes 31.5° and 33° south and demand continues to be much stronger for A grade longitudes 150° and 152° east. It is the most office space, whilst C and D grades have reduced in populous regional area in Australia. With over recent years. 653,000 people, Australian Bureau of Statistics, the Hunter has significantly more people than Tasmania, As shown in the accompanying table, the Hunter the Australian Capital Territory or the Gold Coast. economy is projected to grow by nearly 75% to The Hunter is also Australia’s largest regional the year 2036, with output of around $64.8 billion. economy, with an estimated output of $36.9 billion in Average annual growth is forecast to be around 2.4% 2012 (Deloitte Access Economics) and is undergoing pa, significantly higher than 2.1% pa forecast for the an impressive period of sustained economic growth, remainder of New South Wales. Despite with a growing range of investors and businesspeople difficult global recognising the powerful competitive advantages the As well as providing an exceptional economic case, economic Region offers. An unprecedented amount of investment the Hunter also offers a quality of life that is hard conditions in is occurring in the Region, with many billions of dollars to match. Businesspeople relocating to the Hunter recent years, of projects underway and being planned. experience an excellent lifestyle, with a combination the Hunter of exceptional natural assets, pleasant climate and a Region has This is largely due to the major transformation the high level of facilities and services. The Region offers been largely unfazed and local economy has experienced over the past two very high levels of education and health services, continued decades. Although traditional industries are still major as well as all the services you would expect from a to perform contributors, the local economy is now characterised major centre of population. Relatively low levels of strongly.” by a much more diverse industry base. This diversity, traffic congestion and real estate prices compared to combined with high levels of investment, a “can do” Sydney are also welcome. The Hunter truly has it all – it’s a great investment The NSW Trade & Investment Hunter Regional and business location plus a great place to live. NSW Trade & Investment • Identifying and developing commercial opportunities • Business relocation to the Hunter assistance to businesses expanding • in or relocating to regional NSW. • Diversifying and adding value to products and services Regional colour bar ESBRD_GP186_12 / 11 L3, 251 Wharf Rd, Newcastle NSW 2300 TEL: (02) 4908 7333 FAX: (02) 4929 7096 EMAIL: [email protected] www.business.nsw.gov.au/regions PROSPECTUS 2014 jd1423_v3.indd 1 4/12/09 11:44 AM INTRODUCING THE HUNTER | 9 PROJECTED INDUSTRIAL COMPOSITION OFTHE HUNTER, 2012 - 2036 AVERAGE ANNUAL INDUSTRY 2012 (%) 2036 (%) (%) GROWTH (%) Mining 22.3 24.2 1.9 2.8 Manufacturing 11.7 11.2 -0.5 2.2 Health Care & Social Assistance 7.7 8.4 0.7 1.9 Financial & Insurance Services 6.5 6.3 -0.2 2.7 Construction 6.0 6.1 0.1 2.5 Education and Training 5.6 6.1 0.5 1.9 “The Hunter Retail Trade 5.0 4.9 -0.1 2.4 is Australia’s largest Transport, Postal and Warehousing 5.1 4.8 -0.3 2.3 regional Public Adminstration 5.4 4.7 -0.7 1.9 economy, with an Professional, Scientific andTechnical Services 4.8 4.6 -0.2 2.6 estimated All other industries 19.9 18.7 -1.2 1.8 output of $36.9 billion BRINGING TOGETHER Total value added 100 100 2.4 in 2012.” OFFICE DESIGN & Source: Deloitte Access Economics CONSTRUCTION Well-designed office space translates into higher creativity, better staff retention and increased productivity. Well-planned 2014 ACKNOWLEDGEMENTS construction means lower costs, faster build time and a reduced risk of mistakes. More importantly, the synergy of managing both RDA Hunter and Hunter Business Publications Pty Ltd thank the following organisations for their contribution to the preparation and publication of the Hunter design and construction under a single point of accountability Investment Prospectus and in doing so, their support of the Hunter Region. brings even more exceptional results. Evoke Projects can bring this synergy to your next fitout or GOLD SUPPORTERS Muswellbrook Shire Council refurbishment project. Our in-house architects and designers will Accent Group NCP Printing tailor the layout for your business and provide 3D concepts so Davies Collison Cave Newcastle Airport Enviropacific Newcastle City Council that you can visualise your new office interior. Our in-house team Hunter Councils Newcastle Grammar School of engineers and builders will bring the design to fruition. You Hunter Development Corporation Newcastle Permanent Building Society will have a single point of contact and accountability who will Hunter Land Newcastle Port Corporation Hunter Valley Research Foundation Out of the Square Media manage the project on time and within budget.