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The redevelopment of EnergyAustralia
Stadium has the potential to contribute a positive economic
impact of more than $60million to Australia’s
GDP and create more than 1000 jobs in a region where
unemployment is well in excess of the national average.
These were the conclusions drawn
from a study undertaken by the University of Newcastle’s
Centre for Business Innovation, Research & Development
(BIRD), which was used as part of the Hunter ISC Trust’s
presentation to the Prime Minister’s Office in
October 2002.
The BIRD project team, headed by Byron
Keating, undertook the study to investigate the economic
impact the redevelopment of EnergyAustralia Stadium
would have at a national level.
Along with the impacts on GDP, the
study showed that the redevelopment would also generate
improvements in the areas of economic development, health,
crime and social cohesion.
The study also concluded that the
redevelopment would:
- Act as a significant catalyst for the development
of an international standard sports and entertainment
precinct, funded primarily through the private sector
which could exceed $100 million; and
- Provide production and consumption induced taxation
revenues that mitigate the risk of investing in this
project over another potential project.
Byron said that the study showed
how important this development is to the Hunter.
“The study illustrates
that there are genuine economic and social benefits
to be gained from the redevelopment,” Byron said.
“It also highlighted the
unique nature of the redevelopment, not only of the
Stadium but of the whole sports centre precinct.”
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