An independent report released today has confirmed that Port Stephens Council’s proposal to invest $43 million in rejuvenating town centres will deliver an estimated $109 million economic benefit for local areas in the construction period alone.
Works planned as part of Council’s proposed rate increase – known as the Special Rate Variation – will revitalise town centres across Port Stephens including Raymond Terrace, Medowie, Nelson Bay, Anna Bay, Fern Bay, Fingal Bay, Karuah, Lemon Tree Passage and Seaham.
Mayor Ryan Palmer says the report shows Council’s decision to invest in local communities provides benefits not only from construction, but will also have positive flow-on effects for many years to come.
“In addition to construction, there’s also more than $65 million in associated benefits projected to flow into Port Stephens over the next two decades. It’s clear that by investing in town centres across Port Stephens, we will stimulate the local economy, drive business growth, attract visitors, fill empty streets and enhance our region for the benefit our entire community.
“It’s our locals who work in town centres, and this investment will directly benefit them by providing more local jobs and creating more opportunities for growth.
“Without the additional funds from a special rate variation, we simply won’t be able to undertake the kind of transformational works that we’re proposing – to deliver long-term social and cultural benefits for our communities. This is for the next generation of Port Stephens — so that our children will have somewhere to live, work, play and grow,” Mayor Palmer said.
All projects proposed under the rates increase are included in Council’s draft Integrated Planning and Reporting Documents, which are currently on public exhibition. All community members are encouraged to have their say by Friday 21 December 2018.
To read the full report, visit portstephens.nsw.gov.au/srv