23 December 2008
Todays decision to reduce levies on commercial, industrial and retail development in Western Sydney will be a boost to job creation efforts in uncertain economic times, according to the Urban Taskforce.
The NSW Government today revealed that levies for employment-generating development would be cut in half from $150,000 per hectare down to $68,800 until June 2011. After this, the levy will be $112,500 a hectare.
This is a great Christmas present for job-hungry Western Sydney, Mr Gadiel said.
Developers will now have another look at new commercial, industrial and retail development in the Western Sydney growth centres.
Mr Gadiel said that Western Sydney was home to 1.6 million people.
Its crucial that more jobs are located in the region, he said.
By creating new local jobs in Western Sydney, locals will enjoy the benefits of less time spent travelling and more time with their friends and family.
Everyone in Sydney will win with reduced pressure on the existing congested public transport and roads.
Western Sydney is a great place for traditional manufacturing but it can be home to so much more.
Given the right environment, developers will consider job-creating business parks, offices and retail development.
Pharmaceuticals, information and communications technology and advanced manufacturing are also crucial to the future of Western Sydney.
Many of these activities could be located in new business parks away from older industrial areas.
The construction sector is Australias third largest source of employment.
For every million dollars spent in development projects, 27 jobs are created throughout the economy.
The Urban Taskforce is a property development industry group, representing Australias most prominent property developers and equity financiers.
