BUDGET: ROAD FUNDING A HUGE WIN FOR THE ILLAWARRA AND SHOALHAVEN
10 May 2021
The region’s peak business advocacy organisation, Business Illawarra, welcomes the Federal Government’s announcement that the 2021-22 Federal Budget will include significant funding for two of the region’s major road infrastructure priorities: $240 million to deliver the Mount Ousley Interchange and $500 million towards the upgrade of the Princes Highway between Jervis Bay Road and Sussex Inlet Road, including the Jervis Bay Road Intersection.
Federal Government funds will meet existing commitments from the State Government for both projects, providing a much needed boost for regional transport networks that the Illawarra business community has long campaigned for.
Executive Director of Business Illawarra, Adam Zarth, said that these major road projects will deliver significant benefits to both the economy and the wider community, and represent a sound investment for the future while providing a necessary near-term economic stimulus.
“Clearly the Commonwealth has heard the call from business, particularly our research-based advocacy, to commit funding to complete the Mount Ousley Interchange; a key economic pinch-point for heavy vehicles heading south from Sydney to the Illawarra and Shoalhaven, and a danger to the community.”
“Likewise, the upgrade of the Princes Highway between Jervis Bay Road and Sussex Inlet Road will provide both economic and safety benefits for this popular tourist area.”
“Our 2018 road research has found the planned Mount Ousley Interchange project will deliver $46 million per year in economic benefits. It will replace the existing intersection of the Princes Motorway and Mount Ousley Road, providing a new point of entry to the University of Wollongong, which will ease traffic around the campus by about a third as well as providing a much-needed link across the M1 to Wollongong’s CBD.”
“Following our advocacy, the NSW Government announced in November last year that it would commence the process for delivering the Mount Ousley Interchange, with initial funding of $21 million for planning.”
“We look forward to seeing a continuation of co-contributions from the Federal Government for transformative infrastructure for our region; particularly the Picton Road Motorway Project, which has $44 million set aside for planning, as well as the South West Illawarra Rail Link.”