Economic Benefits of the Precinct

The Shoalhaven Community and Regional Precinct will bring a number of economic benefits to the region.

Council engaged ID Economy to conduct a detailed economic analysis of the project.

In summary:

• The project will provide a range of economic and social benefits to the region and will respond to high levels of socio-economic and health disadvantage in the region. The net present value of the project is estimated at $18.7 million over a 30 year period and represents a benefit cost ration of 1.21:1.
• An increase in the level of participation in sport, recreational and community activities. This benefit is estimated at $41 million, around 38% of total benefits. This is expected given the poor quality of existing facilities and amenities at the Artie Smith and Bomaderry Sports Complex.
• An increase in economic activity in and around the Project through on-site job creation, higher visitation levels and on-site spending, and potential for major events that brings visitors into the region. This benefit is estimated at $65.9 million, and includes additional on-site revenue (sales and rents from commercial tenants), proceeds from land sales and induced tourism expenditure.
• Positive health impacts due to reduced absenteeism at work and avoided government health costs. This benefit is estimated at $1.7 million. This responds directly to the regions poor performance against health indicators (e.g. obesity).
• The total impact on the local economy would be 487 jobs and $46.1 million in value-add from the construction phase of the project. Total impact on the local economy would be 80 jobs and $6.2 million in value-add per year from the operational phase of the project.
• The project has the potential to host major sporting events that can attract intrastate and interstate visitors to the region. An assumed likely scenario analysis has concluded that the total impact of one annual major NSW sporting event would be 1.3 jobs and $96,222 in value-add induced tourism expenditure. Current discussions with NSW Cricket, AFL, Rugby, Soccer and Athletics associations have suggested that they would host several major events at the site per year.