Almost 300 business leaders from across the Central Coast attended the annual Business NSW Central Coast Economic Breakfast recently to learn how transformational transport and aviation projects coming online in the next five years will affect business growth.
The event kicked off with Member for Wyong David Harris, who is Minister for Central Coast, Aboriginal Affairs and Treaty, Gaming and Racing, Veterans and Medical Research, sharing his vision and commitment to regional growth.
“It was encouraging to hear Minister Harris reaffirm his commitment to fight for development of the Central Coast and support the business community to tackle labour shortages, develop the Gosford waterfront and address our transport issues,” Business NSW Executive Director Regional NSW and Visitor Economy, Paula Martin, said.
Following the Minister’s address, a global economic update was provided by Chief Economist at Commsec, Craig James.
“The Central Coast is performing well on a number of indicators including unemployment, tourism, housing but the challenges of lower consumer spend continue to outweigh falling inflation.” Martin said.
“Central Coast tourism average spend is outperforming other regions which is welcome news and provides confidence to the tourism sector to continue investing in their product.
“We are also seeing average house prices drop around $170,000, potentially signalling a levelling out to the unaffordability of regular housing stock.”
Following the economic outlook, Business NSW hosted a panel of experts to discuss how significant projects in surrounding regions can helping the Central Coast to plan for growth.
“The Hunter and Western Sydney are going live in the next five years with significant infrastructure projects like the Western Sydney international Airport, Newcastle Airport expansion and Newcastle Port clean energy transition and these projects represent new growth opportunities for Central Coast business,” Martin said.
“Understanding how these significant projects can stimulate export, new supply chains, tourism and emerging sectors like clean energy are important to the overall plan for industry growth across the region.”
Other speakers included: Central Coast Council Director for Environment and Planning, Dr Alice Howe; Newcastle Airport CEO Dr Peter Cock; Western Sydney Airport Chief Corporate Affairs Officer, Scott MacKillop; Director for Placemaking and City Plan at the Greater Cities Commission, Stephanie Jones; Central Coast Aero Club General Manager Andrew Smith; and Port of Newcastle CEO Craig Carmody.
Formerly the NSW Business Chamber, Business NSW is the peak policy and advocacy body which has been representing businesses in NSW since 1826.
Source:
Business NSW Central Coast