Council is setting records to be proud of after endorsing the $113.8 million third stage of its COVID-19 Community Support Package - which is set to increase the local Gross Regional Product (GRP) by up to $89.4 million; create up to 437 new jobs and raise output by up to $195 million.
Stage Three, or the recovery phase, includes 65 projects and initiatives to be delivered across the next four years that fit into six categories, including:
- Infrastructure, with more than $108 million worth of value to be delivered;
- Events, with $320,000 to be delivered;
- Grants and financial assistance, with more than $350,000 available to residents and businesses;
- Local employment, with $675,000 committed;
- Programs, where $248,000 has been committed; and
- City beautification, with almost $3 million to be delivered.
The economic impacts of the 65 projects and initiatives are estimated to be substantial, with economic modelling determining Stage Three will:
- Raise output in Camden by between $174 million and $195 million over 2020-21 to 2024-25;
- Support between 355 and 437 new full-time equivalent jobs; and
- Contribute between $76.1 million and $89.4 million to Camden's GRP.
Mayor of Camden, Cr Theresa Fedeli, said the delivery of Stage Three would make the lives of each and every resident, worker and visitor better.
"We promised Stage Three would come once the social and economic impacts of COVID-19 on the Camden community became clearer, so we were able to give our community what they really needed," Cr Fedeli said.
"The projects included as part of Stage Three are key priority projects for the Camden community. Stage Three is Council's commitment to get these projects off the ground in the next four years so our residents, workers and visitors can all benefit from them in the short term and for many years to come.
"And the benefits expected to be delivered are just incredible. Stage Three is estimated to raise Camden's economic output by up to $195 million, which is a measure of the value of all sales of goods and services. For example, in construction, it would be the value of everything that is built, including all the services and goods that are engaged during the construction period.
"It is also estimated to add up to 437 new full-time equivalent jobs, which means we'll be able to have people work closer to home because those opportunities have been created for them. And an increase of up to $89.4 million contributed to Camden's GRP - this reflects the value of all goods and services that have changed hands throughout an economy, and the increase means our local economy is strong. This will all be thanks to Stage Three.
"Once again, I am honoured to have worked collaboratively with my fellow Councillors and Council staff to present another significant layer of support for our community."
Stage Three comes after the successful rollout of the first two stages of Council's COVID-19 Community Support Package, announced in May 2020. The economic modelling estimates that, over 2019-20 to 2021-22, Stages One and Two is:
- Raising output in Camden by up to $26.7 million;
- Adding up to 70 full-time equivalent jobs locally; and
- Contributing up to $13.3 million to Camden's GRP.
For more information on Stage Three, including what projects are included, visit www.camdenrecoverypackage.com.au
For more information on Council's response to COVID-19, as well as what other support is available, visit camden.nsw.gov.au/covid-19-support
