Sydney Harbour development may create 3,000 jobs

Redeveloping Sydney Harbour could create at least 3,000 new jobs and funnel millions of dollars in tax revenue into the local economy.

The $380,000 blueprint outlining the harbour’s future stressed the importance of capitalizing on trade coming from Asia through the Suez Canal. A $300-million container terminal to be built at the Sydport greenfield site, the redevelopment of the International Coal Pier, and reconstructing the pier at Sydport Industrial Park are the linchpins in the plan to attract cargo vessels. Upgrades to the Sydney Marine Terminal are also planned so that more cruise ships can visit the region. The plan expects that by 2030, commercial and tourism ventures associated with the port would generate up to $160 million in yearly tax revenues, with up to $51 million going to the province and up to $4 million to the local economy from marine cargo. By that time, about 8,800 jobs could be connected with the port, compared to 2,400 positions now.

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