Far Reaching Benefits Expected from Riverside Precinct Funding
19 June 2018
More than $11 million dollars in funding from the NSW government has been announced for the development of the Murray River Regional Experiences precinct. It will connect three major projects - the Albury Riverside Precinct, Parks and Wetlands Redevelopment, the Tocumwal Foreshore Activation and Economic Revitalisation project, and the Corowa-Mulwala trail and Foreshore project - creating the ultimate river tourism experience.
Mayor of Albury, Kevin Mack, said “the region’s riverside, parks and wetlands will be transformed, allowing tourists to immerse themselves in the stunning environmental surrounds.”
The funding will be used to build new tourism facilities that will provide access to parks, walking and cycling trails, boardwalks, man-made lagoons, billabongs and picnic facilities.
The projects represent a significant return on investment, attracting an anticipated additional 365,000 tourists to the region each year, directly creating new local jobs in the tourism industry and ultimately ensuring that tourists stay longer and spend more in our local towns and cities.
The Riverside Precinct Funding is great news for local businesses, Mr Mack explained, “It provides the opportunity for business operators to provide complementary products, and to capitalise on the project through the increase in visitors to the region”.
In addition to the NSW State Government funding received, the Murray River Regional Experiences project will also be co-funded from the local councils involved, taking the shared investment to $20.6 million.