An independent report has confirmed that Port Stephens Council’s proposal to invest $43 million in rejuvenating town centres will deliver an estimated $109 million economic benefit in the construction period alone.
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Works planned as part of the council’s proposed Special Rate Variation (SRV) will revitalise town centres including Raymond Terrace, Medowie, Nelson Bay, Anna Bay, Fern Bay, Fingal Bay, Karuah, Lemon Tree Passage and Seaham. Mayor Ryan Palmer said the report showed that the Port’s communities would benefit not only from construction, but also the 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,” he said.
Draft Integrated Planning and Reporting documents are on public exhibition for people to have their say by Friday, December 21.
