The Federal Government should use tomorrow’s Budget to unlock productivity gains for the Hunter region by investing in the Glendale Interchange.
This important project, linking Glendale and Cardiff, would capitalize on the economic potential of the Cardiff Industrial Estate and Glendale shopping precinct, clearing the way for major new development and job creation.
Since the Coalition took office the business community, strongly backed in recent months by the Reserve Bank, has called for infrastructure investment that will drive productivity gains that boost economic and jobs growth.
Commonwealth support for the Pennant Street Bridge section of the Glendale Interchange project fits this requirement perfectly.
Independent economic analysis into the project has found every dollar invested in Stage I would leverage $94 of private sector investment, leading to the creation of more than 10,000 jobs.
That is why Hunter Councils, the organisation representing 11 local authorities across the Hunter, has described the Glendale Interchange as the region’s most-significant infrastructure project.
Tomorrow’s Budget represents an opportunity for the Coalition Government to invest in this project and work with the Lake Macquarie City Council and State Government to make it a reality.