Source: Australian Government - www.minister.infrastructure.gov.au

Regional communities across Victoria, New South Wales and Queensland will benefit from the boost of up to $13.3 billion in Gross Regional Product over the next 50 years off the back of Inland Rail’s construction, according to a new report released by the Australian Government.

The in-depth study by EY demonstrates the potential for complementary industry investment alongside the rail line to generate billions in added value for regional communities over the first 50 years of operation.

Deputy Prime Minister and Minister for Infrastructure, Transport and Regional Development Michael McCormack welcomed the report as further proof of Inland Rail’s long-term contribution to the growth of regional Australia.

“Inland Rail is an investment that we know has enormous payback for regional Australia 10, 30 and 50 years down the track,” McCormack said. “Inland Rail is going to draw industry to regional Australia where the enhanced freight rail network will connect companies and consumers both domestically and internationally.

“This new EY report identifies the benefit to Gross Regional Product along the alignment could be up to $13.3 billion over the next 50 years. That is massive for regional Australia and builds on the 16,000 jobs and $16 billion economic boost generated during construction and operation.

“What the EY report is assessing is the additional benefit to communities from the opportunities that arise for local businesses and people from the completion of Inland Rail. For example, it might be a cereal manufacturer whose freight costs drop by 30 percent allowing the employment of additional staff, or it might be the expansion of regional processing that takes advantage of Inland Rail’s lower cost and greater capacity and connectivity.”

McCormack added that investments to Inland Rail could support up to 1600 fulltime jobs over 10 years in new manufacturing and packing facilities, meat processing plants, regional airports and distribution centres along the rail line.

In the Parkes region, Construction of Inland Rail has already employed 656 locals and seen $75 million spent with local businesses.

“To each community, these investments are about more than numbers. Inland Rail gives us hope of retaining young people with jobs in their backyard, attracting new contributors to local economies and protecting the community services our regions need to thrive. Our regional communities have persevered through a decade’s long drought, while others are starting the long road to recovery in the wake of devastating bushfires and floods.

“Inland Rail gives these communities new ways to grow and rebuild with better connections to interstate and international markets, new jobs and a stronger case for attracting public and private investment,” he said.

Finance Minister Mathias Cormann said the report was further demonstration of the significant economic contribution Inland Rail would make across regional Australia.

“From the Parkes logistics hub to Narrabri’s plans for an inland port and industrial precincts in Toowoomba and Wodonga, the first wave of developments are taking shape. We are very confident that many other regional towns in and around the Inland Rail corridor will secure further significant investment, development and job creation opportunities for their towns on the back of this exciting project.”

The EY report highlights a range of investment opportunities alongside Inland Rail that will sustain regional communities for the long term.  

Read the full EY Inland Rail Regional Opportunities report online at www.InlandRail.gov.au.