Tuesday, 2 March 2010

Region. High-quality infrastructure needed

''Norwest Business Park and Sydney Olympic Park show investors will move when there's high-quality infrastructure in place,” said Professor Phillip O’Neill, director, of the Parramatta-based UWS Urban Research Centre, when commenting on the Hunter Economic Zone being placed into receivership. The NSW Government said, in 2002, when property developer Hardie Holdings won approval for the 870-hectare industrial park near Cessnock, that it would be the biggest employment lands development in the state, providing more than 10,000 jobs and attracting $2 billion in investment. Professor O'Neill, who advised Cessnock Council on potential uses for the land, said he was not surprised the zone had gone into receivership, as the site never had enough infrastructure to attract investors. ''If there's a lesson from the HEZ site it is that ideal land alone won't attract quality investment,” he said.