Although the COVID-19 storm may not yet to be over it is now time for the Government to dust of the economy and look towards the future.
If the economy is to recover there will need to create strong stimulus opportunities.
NSW Planning, Industry and Environment has released the priority projects criteria to support the recovery of the NSW economy during and after the COVID-19 pandemic.
The project criteria rely heavily on the delivery of much needed employment, economic stimulus and both physical and social infrastructure.
Whilst the government scours the country looking to bring forward "Shovel Ready" infrastructure projects to keep the state's economy moving, Riverstone stands out like a beacon ready to answer the call.
Ticking off all the priority projects criteria the regeneration of Riverstone delivers the opportunity to stimulate the economy while providing much needed benefits for the town all at NO COST TO THE GOVERNMENT.
Deliver of the Riverstone West Project alone delivers
- 20,000 Jobs both in construction and ongoing employment
- $2.5bn of immediate economic stimulus
- 100 ha of green space for community use
- Local road infrastructure removing heavy vehicles from Garfield Rd
The Riverstone West road infrastructure opens Riverstone to allow the development of Blacktown City Councils proposed Masterplan resulting in the creation of addition construction jobs, additional economic stimulus, new retail premises, community facilities and affordable housing for 6,500 people and the revitalisation of the existing Industrial area capable of retooling towards recovery
Infrastructure investment has an important role to play in our economic recovery however economists are now questioning the appropriate scale of the projects.
Are we better to deliver large scale projects or smaller projects stimulating the local economy of those areas impacted by social distancing restrictions. Riverstone would create the perfect test case for this theory.
Sensible planning would create the jobs where the work is needed. Blacktown Councils Website shows, and analysis of the jobs held by the resident population in Riverstone - Vineyard in 2016 shows construction at 14.9% in comparison, to Greater Sydney employment for Construction being 8.2%.
The announcement of the approval of the Mt Druitt $1.49bil CBD creating 15,000, new homes and new businesses is encouraging to the residents of Riverstone.
By comparison based on the Mt Druitt figures the revitalisation of Riverstone would create 30,000 jobs, $4bil economic stimulus, affordable housing for 6500 people, these numbers are too big to ignore.
This is a real opportunity to improve both employment in the North Western Sydney and to improve the lives of the people of Riverstone.
Riverstone is ready, the time is now.