Media Release: Inland Rail budget announcement a “call to action” for regional business
In one of the biggest investments ever seen in regional Australia, the Federal Government last night committed $8.4 billion to fund the construction of the Inland Rail, commencing this financial year.
According to a report released last week by Regional Development Australia Central West, the economic impact of the Inland Rail project to the NSW Central West region is estimated at $216M over 60 years and that the region is well positioned to benefit from economic and supply chain development.
RDA Central West Chair, Mr Alan McCormack, described the Federal Government’s significant financial commitment to the construction of the Inland Rail as a “call to action” for businesses in the Central West to think strategically, especially those around the Parkes region.
“One of the most interesting things our Inland Rail report found is that up until now, regional businesses have taken a very ‘wait and see’ attitude to Inland Rail,’ said Mr McCormack.
“There has been degree of scepticism and uncertainty out there that has stopped businesses from doing any real strategic thinking around how to leverage opportunities arising from the Inland Rail. This announcement changes that,” said Mr McCormack.
“There will be opportunities for the establishment of regional rail services, new business development and expansion of regional freight hubs,” he said. “Parkes, in particular, stands to benefit from the Inland Rail, as the National Logistics Hub is already established and operational, providing opportunities for transferring interstate freight by rail.”
Opportunities arising from the development of the Inland Rail identified in the RDA Central West Inland Rail Report include;
- rail maintenance and provisioning facilities;
- the expansion of the Parkes National Logistics Hub;
- the development of grain handling and distribution centres;
- business relocations;
- short haul freight services;
- and inland container storage facilities.
The RDA Central West Inland Rail report can be downloaded here; http://www.rdacentralwest.org.au/initiatives/inland-rail/
RDA Central West Executive Officer
Peter McMillan 0437 690 808
About Regional Development Australia – Central West
RDA Central West is part of a national network of 55 locally managed, not -for-profit incorporated associations responsible for regional economic development and is jointly funded by the Australian and NSW Governments. Our region extends from Lithgow in the east to Lake Cargelligo in the west and comprises the local government areas of Lithgow, Oberon, Bathurst, Blayney, Orange, Cabonne, Cowra, Parkes, Forbes, Weddin and Lachlan.