9 October 2014
The future of Taree’s Northern Gateway project rests on finding private investors willing to back the proposed transport hub on the city’s outskirts.
The project has been on the backburner since the NSW Government refused requests to co-fund the project with the Federal Government.
$10 million in federal funding has now been redirected into road and bridge projects in the Greater Taree City Council area.
The Manning Valley Business Chamber is now planning to seek new funding through the Federal Government’s $1 billion ‘Stronger Regions’ program.
The Chamber’s Steve Atkins said a grant is a strong possibility, but they would still need to find co-funding within the private sector.
“It would go a long way to starting the project, but unfortunately with the project being well and truly over $20 million, we’d need co-funding,” he said.
“So that’s part of why we’ve formed a taskforce with the business community and the local Council, to see what we can do there.”
Mr Atkins said there is plenty for support for the project within the transport industry, and funding can be found.
“There’s some private investors that are still very keen on it,” he said.
“The project has got excellent merit, huge job-creation capacity, and it really helps the Manning Valley which is socio-economically disadvantaged.”
Courtesy of ABC News
Article – The hunt on for private investment for Taree transport hub
9 October 2014