Installing a permanent dredge in Lake Macquarie would result in a 150 per cent increase in visitor numbers to the lake and unlock tens of millions of extra tourism spending, an economic analysis commissioned by federal Labor shows.
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The figure was released on Tuesday as part of Labor's $20 million Lake Macquarie Economic Development Package.
Shadow Infrastructure and Regional Development Minister Catherine King said a Labor government would fund the dredge, which is estimated to cost about $10million, in its first budget later this year.
It would then be handed over to either Lake Macquarie Council or the state government to keep the lake's entrance clear.
"Having a one-off dredge come through every 18 months is not cutting it. You just have to look at where Milano's (restaurant) was to understand the impact of not getting this right," Shortland MP Pat Conroy said.
The same funding amount would be provided to extend the Newcastle Mines Grouting Fund to areas such as Charlestown, Cardiff, Morisset, Glendale and West Wallsend.
The commitments were developed in consultation with local government, which identified the costs of mine subsidisation and the silting of Swansea Channel as major barriers to Lake Macquarie's future economic growth.
Economic modelling shows the projects would unlock $1.8 billion dollars in investment and 12,000 jobs across Lake Macquarie.
"This investment represents a change for the betterment of the next generation and the generation past that. This is future thinking applied in the local government landscape," Joshua Sattler, chief executive officer of Lake Macquarie Council's economic development arm Dantia said.
The projects will complement Labor's 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.
Mr Conroy said the focus of a Labor government would be the construction of the Pennant Street bridge.
"The next stage is to build the bridge over the railway line connecting Pennant Street with the shopping centre," he said.
"The busiest intersection in Lake Macquarie is the Munibung Road and Macquarie Road intersection at Cardiff.
"The Pennant Street Bridge is critical to opening up alternative routes and that will drive further development in the Glendale industrial estate."
"We will work with the State and Local Governmemnt to build that bridge as the next stage of the transport interchange."
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Matthew Kelly
Matthew Kelly has worked as a journalist for more than 25 years. He has been working as a general reporter at the Newcastle Herald since 2018. In recent years he has reported on subjects including environment, energy, water security, manufacturing and higher education. He has previously covered issues including the health and environmental impacts of uncovered coal wagons in the Hunter Valley, the pollution of legacy of former industrial sites and freedom of information issues.
Matthew Kelly has worked as a journalist for more than 25 years. He has been working as a general reporter at the Newcastle Herald since 2018. In recent years he has reported on subjects including environment, energy, water security, manufacturing and higher education. He has previously covered issues including the health and environmental impacts of uncovered coal wagons in the Hunter Valley, the pollution of legacy of former industrial sites and freedom of information issues.
