New infrastructure, government funding and a flourishing real estate sector are contributing to investment in the Riverina booming, according to a report.
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The study analysed investment opportunities, highlighting emerging prospects off the back of government funding, the expansion of industrial areas, transportation, and energy generation.
Andrew Bowcher, a partner at RSM Australia which completed the report, said the Riverina is ripe with opportunity in the decade to 2030.
"There is so much government investment into business-focused infrastructure, which could be highly profitable for savvy investors," he said.
"There is also huge support from local authorities for commercial investment, creating a business-friendly environment.
"The Riverina's liveability, employment opportunities, and excellent health and education facilities make it attractive for people looking for a tree change, as well as for businesses aiming to invest in the region."
One of the primary opportunities identified was the Special Activation Precinct, incorporating the Riverina Intermodal Freight and Logistics.
The initiative is expected to create 6,000 jobs, and Mr Bowcher said, will help reduce the red tape and delay associated with getting business expansion off the ground.
"In the past, it could take anywhere from 18 months to two years to get certainty around business planning," he said.
"Within the SAP, the planning timeframe takes 30 days from application to approval, including all relevant government agencies, and then businesses can begin construction.
"This reduces risk and costs and provides businesses with a greater level of certainty."
Mr Bowcher said the Riverina has also attracted unprecedented levels of government investment in infrastructure, including $430 million at Wagga Base Hospital.
"With such a varied and rich range of potential investment opportunities, the Riverina is likely to see significant economic growth in the next decade," he said.
"Right now, the real estate market is favourable with median real estate prices still far below those in the rest of NSW, let alone metropolitan Sydney."
Serena Hardwick from the Wagga Business Chamber said they have seen increasing interests in investments, not just in the city but in the broader region.
She said they have been working on initiatives to broadcast the value of the Riverina.
"Things like the SAP and the value that it brings, and the certainty is fantastic," she said.
"I also think when they [potential investors] can see that the government is spending money out here, that also boosts the confidence of consumers.
"The other thing that we see contributing to investment is from a workforce attraction perspective. We do have that regional lifestyle and a lot of opportunities for people looking to relocate."
Ms Hardwick said the Riverina has also proven that any career is possible, with training and upskilling opportunities.
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