THE LATEST investment figures are worth celebrating.
Last financial year, our valley received $207 million in investment spending! This is the massive investment injection our economy has been desperately needing. Previous years have averaged $50 million per year.
This massive increase in spending will multiply itself throughout the local economy.
The great news is there is more to come. Over $100 million of this figure is from the building of the new prison. This will continue, as the project moves closer to final delivery. Over 300 jobs will be created doing this alone. Then 150 permanent jobs when complete.
This spending, on top of the council's expansion of water and sewer works at Kempsey, Stuarts Point and Crescent Head, totalling $47 million, will stimulate demand and employment in the valley.
Residential housing continues to boom on the back of the waiving/moratorium of ‘developer fees’.
Unemployment has fallen from the disastrous 10.6 per cent in September 2016 to 6.4 per cent as at March 2018. This means over 400 unemployed now have work!
Given the NSW unemployment rate is 4.9 per cent, we can be hopeful that our unemployment will continue to fall as the investment spending multiplies throughout the valley.
Mark Baxter, Crescent Head