Council loan approval to buy Bomen land
John Barilaro – Deputy Premier, Minister for Regional NSW, Minister for Trade and Industry
Shelley Hancock – Minister for Local Government
Wednesday, 30 October 2019
The NSW Government has granted approval to Wagga Wagga City Council for an internal loan to fund the purchase of key lands for the long-term growth of the Bomen industrial precinct.
Minister for Local Government Shelley Hancock said the council has been given permission to draw loan monies from its own sewer fund to purchase 251 hectares of land to drive industrial investment, economic development and job creation in Bomen.
“This innovative financing method has enabled council to secure some of the most strategic employment-generating land in NSW that will drive economic development and jobs growth in the region,” Mrs Hancock said.
Council will be paying interest to its own business entity, free from commercial lending fees.
“The purchase of this parcel of land is a vital step in the development of the Special Activation Precinct that will also enable council to generate more revenue to ultimately reinvest back into the community.
“The Government is committed to supporting councils to deliver for their local communities and I am delighted to assist Wagga Wagga City Council to drive its economic development agenda.”
The NSW Government has made significant investment in the Bomen industrial precinct and inland freight and logistics hub with more than $29 million announced on October 10 for heavy vehicle road links, water and data connections.
Deputy Premier John Barilaro said the Government’s vision for the region is to make Wagga Wagga even more attractive to local and international businesses, boosting the local economy and helping to create more jobs and opportunities for generations to come.
“This is yet another example of the NSW Government backing our regional communities, making sure projects that matter most are delivered,” Mr Barilaro said.
MEDIA: James Jooste | Deputy Premier | 0429 978 036
Nicholas Story | Minister Hancock | 0438 255 020
| PDF Version of Media Release: | Ministerial Media Release – 30/10/19 – Council loan approval to buy Bomen land – PDF |