A federal Labor government would fund a permanent dredge in Swansea Channel and extend the Newcastle Mines Grouting Fund program to cover properties in Lake Macquarie.
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Labor's $20 million Lake Macquarie Economic Development package, to be unveiled on Tuesday, follows commitments to invest $500 million in the first stage of high speed rail from Newcastle to Sydney, provide $30 million to upgrade Mandalong Road between Morisset and the M1 and work with state and local government towards the completion of the Glendale Interchange.
The commitments have been developed in consultation with local government, which identified the costs of mine subsidisation and the silting of Swansea Channel as major barriers to future economic growth.
"This Lake Macquarie Economic Development Package from an Albanese Labor Government will unlock over $1.8 billion of economic benefits for this region, helping create over 12,000 jobs," Shortland MP Pat Conroy said.
'Lake Macquarie has been neglected by the Morrison-Joyce Government, but Labor will put it back on the map, stimulate the economy, boost local jobs, and help address the local housing crisis.'
Lake Macquarie Council identified a continuous dredging program for Swansea Channel as a key project to unlock boating, tourism and water sporting activities on the lake.
"Lake Macquarie Marine Rescue have made it clear that establishing a permanent dredge is an urgent priority," Mr Conroy said.
Labor believes expanding the Newcastle Mines Grouting Fund to new areas such as Charlestown, Cardiff, Morisset, Glendale and West Wallsend would enable businesses and the private sector in invest in new developments with confidence, creating secure local jobs and a better future for working families across the Hunter, while also helping to address the region's crippling housing crisis.
Economic analysis prepared by Lake Macquarie's economic development corporation estimates that in Charlestown alone, $453 million of investment in eligible development applications could be accelerated, or project scope increased, through risk mitigation if the proponents had access to the grout fund.
"One of the primary roles of a government is to invest in local communities and remove barriers to future economic growth," Shadow Minister for Infrastructure, Transport and Regional Development Catherine King said.
"That is exactly what these investments will do, enabling the next generation of secure local jobs to be created across the Hunter region."
Mr Conroy said the projects were essential to the future economic development of Lake Macquarie.
"I am proud to represent a party that is truly committed to the long-term future of our region. Creating over 12,000 new jobs and driving billions of dollars of new investment means a brighter future for Hunter families," he said.
Labor has also committed to spending $184,000 to upgrade to the facilities at Belmont's Cahill Oval.
The funding package will support increased participation for men and women of all ages.
In addition to supporting local players, the upgrade will also open opportunities for Cahill Oval to host state-wide school events like the All Schools Carnival and Ladies League Tag State Carnival, as well as larger club rugby league events.
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