New Tomago industrial estate a step closer
Plans have been lodged with Port Stephens Council for a major new industrial estate at Tomago.
Tomago Aluminium Company is planning to release around 300 ha of industrial land adjoining its current site, to create the Hunter Corporate Park.
The subdivision project would inject $80 million during the infrastructure building phase into the Hunter economy, which is expected to facilitate approximately $1.77 billion in building construction over 15 years as a result of opening the area to other industries. This is expected to give the NSW economy an economic boost of around $2.65 billion from capital investment.
The developed site is expected to generate between 2,500 and 4,500 direct full time jobs over 15 years and these jobs are expected to contribute between $300 million and $540 million pa in additional economic benefits.
The proposed development on Old Punt Road would involve three stages over the 15 years, with each stage expected to take around 5 years. Development of each stage would be triggered by market demand.
The development is expected to be very attractive to light industrial businesses looking for the advantage of being close to national and international transport infrastructure, including the airport, Port of Newcastle and the Pacific Highway. The level land is ideally suited to industrial development as it is flood free, contamination free and already has major power and gas utilities nearby, due to the proximity to Tomago Aluminium and the AGL Gas Storage facility.