Malcolm Turnbull encourages investors at Aerotropolis forum
PRIME Minister Malcolm Turnbull has encouraged local and international business leaders to secure their place in the new Western Sydney Aerotropolis - the proposed hub for aerospace, defence, agribusiness, manufacturing, education and research.
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PRIME Minister Malcolm Turnbull has encouraged local and international business leaders to take a “once-in-a-generation opportunity” and secure their place in the new Western Sydney Aerotropolis.
The economic zone around the Western Sydney Airport is set to be a hub for aerospace and defence, agribusiness, manufacturing, education and research.
Mr Turnbull and NSW Premier Gladys Berejiklian addressed more than 250 business leaders at the Aerotropolis Investor Forum at the William Inglis Hotel in Warwick Farm on Monday.
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Mr Turnbull said the 10,000 ha greenfield site around the airport will be transformed into a city that will generate tens of thousands of jobs and be home to individuals and families.
He said the Western Sydney City Deal would help ensure the infrastructure around the airport was planned and installed in advance.
The deal was signed in March by eight Sydney councils, including Liverpool, and the state and federal governments, and includes commitments from all three levels of government to transform western Sydney.
“For the first time, all three levels of government will be united in a common purpose — to make western Sydney one of the best places to live and work in Australia,” he said.
Mr Turnbull pointed to the Inglis family’s $140 million investment in Liverpool as just one example of businesses setting up shop in southwest Sydney.
Ms Berejiklian said the government was committed to making the investment process as easy as possible for businesses.
The state government will form a Western Sydney Development Authority with the federal government to deliver utilities and infrastructure in order to speed up development and reduce costs for businesses.
“The Western Sydney Aerotropolis will be a dynamic, diverse precinct at the heart of the booming western Sydney economy,” she said.
\Meanwhile, a World Trade Centre has been proposed for western Sydney with an economic impact assessment by PricewaterhouseCoopers showing it could create 43,500 direct jobs
and directly inject $13 billion into the economy.
GOVERNMENTS TO SPEND BILLIONS ON AIRPORT
The $8 billion proposal by developer Aerotropolis Group would “resolve the structural problem faced by Sydney by bringing balance to our city which is historically tilted to the east”, according to Aerotropolis Group managing director and chief executive Jomon Varghese.
The project would feature four WTC towers, an international convention and exhibition centre, commercial space for multinational companies, an innovation and incubation centre for start-ups and retail and residential space.