The Property Council welcomes the Federal Government's much anticipated announcement today committing funding to the Newcastle Airport Runway Upgrade.
Property Council Hunter Regional Director Anita Hugo said this is great news for the region and will have a significant and positive impact on economic growth in the Hunter.
"The runway upgrade will deliver international capability to the airport and is a leap forward for the region.
"We have long advocated for this upgrade which will significantly stimulate the visitor economy, generate an uplift in freight and deliver thousands of jobs.
"Having an international runway in the middle of a special activation precinct is going to deliver huge economic benefit and value.
"Federal government should be acknowledged for recognising the importance of this asset to the growing economy and we will be seeking support from State government to partner with the Airport in delivering the terminal upgrade as a crucial next step.
"The terminal upgrade will enhance the capacity and recognition of the site as a key global gateway.
"The goal is to be international ready when borders open back up for global travel and it's very achievable," Ms Hugo said.
