NSW Property Minister, Melinda Pavey has announced the state government has completed two land sales with American retail giant Costco and property developer, Green Capital Group.
It will see Costco build it's first store outside Sydney, while Green Capital will use its lot for a major residential development, providing 500 new homes for the region.
The Costco development would create around 80 construction jobs and up to 225 ongoing local jobs, while the Green Capital project is expected to create about 400 jobs during construction.
Lake Macquarie MP, Greg Piper says Costo is a great economic driver for any region.
"I'd imagine with Costco coming we will see other businesses wanting to come in and invest in the area."
"My understanding is Costco is ready to lodge their development application today, and they're very keen to get on with this development, looking at a 9-12 months construction period."
"So hopefully somewhere after half way through next year, we'll see Costco being able to trade in our local area."
Melinda Pavey says the projects will inject will inject around $300 million into the local economy.
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| Costco wants to set up its first store outside Sydney at Boolaroo. Picture: Costco |
