The City of Newcastle's record $116 million capital works program is set to create 700 new local jobs and boost economic output by $275 million in an attempt to revitalize the local economy as it moves on from the COVID-19 pandemic.
While more than 41,000 people have lost their job or left the local labour force since February, the Council is confident their stimulus will breathe new life into the struggling community.
Lord Mayor Nuatali Nelmes said with the national economy in recession, it was more important than ever to "accelerate investment" and "uplift economic activity".
The city's infrastructure plan will deliver several programs over the next 12 months:
- $22.9 million for upgrades to local roads and footpaths
- $17 million for waste management, with $9 million going towards an organics recycling facility at Summerhill and divert around 900,000 tonnes of food and garden organics from landfill
- $14.2 million for suburban and city centre renewal, such as thee Hunter Street Mall works and local centres in Wallsend, Kotara, Merewether, Shortland, and Stockton
- $9.3 million for environmental sustainability projects, with $1.4 million going towards the rehabilitation of Ironbark Creek
- $8.2 million for new and improved parks, playgrounds, sporting and aquatic facilities
- $7.3 million on storm water upgrades to address localised flooding
- $5 million to implement the city's Climate Action Plan
- $5 million for new and improved cycleways
- $4.6 million for bridge reconstruction works, including Cowper Street and Nelson Street, Wallsend
- $1.5 million to plant new street and park trees
“The prudent financial management of City of Newcastle means we have the capacity to fund this COVID-19 stimulus budget, without borrowing," said Mr Bath. "Instead the $336 million budget will be funded from forecast income with a $23 million shortfall funded from existing reserves.”
Cr Nelmes said the program would continue the Council's track record of delivering great results for the local economy.
“Independent economic analysis shows that our investment in local infrastructure has sustained over 3,500 local jobs and increased economic output across Newcastle by more than $1.27 billion since 2015."
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| Image credit: https://www.newcastle.nsw.gov.au/ |
