Newcastle Airport took a giant step towards the development of a $20 million Astra Aerolab Business Technology Park last week when it exercised its option to purchase land adjacent to the airport.
In September 2018, NSW Deputy Premier, John Barilaro, announced an $11.7 million grant to kick-off the development of the Astra Aerolab, which aims to capitalise on the existing economic strengths of the region and create more than 5,000 new jobs.
The latest milestone means progress on the site can start as early as next month.
Newcastle Airport chief executive Peter Cock said the land purchase was an “important part of our journey to be the airport the region deserves”.
“It brings us closer to realising Newcastle Airport as a regional hub for aviation activities, including new defence and aerospace-related manufacturing, maintenance and research,” he said.
The project will also be funded Newcastle and Port Stephens councils – the airport’s joint shareholders.
Port Stephens mayor Ryan Palmer said the land purchase demonstrated the council’s ongoing commitment to transformative growth.
“This will set up Port Stephens – and the whole of the Hunter Region – to truly participate on the world stage as a premier tourist and business destination,” he said.
The Astra Aerolab aims to provide 73 lots on 46 hectares of developable land, direct airside access for selected lots, and an onsite lifestyle that boasts cafes, parks and cycleways.