Newcastle Airport in New South Wales, took a big step this week toward the development of its Astra Aerolab Business Technology Park when it settled its purchase of a 76ha parcel of land adjacent to the airport.
The airport paid $22.0m for the land which will accommodate the Airport's Astra Aerolab, a pre-eminent space for innovation in aviation, defence and aerospace-related manufacturing, maintenance, research and education. The Newcastle Airport have commenced early works on the site and a preparing for leasing enquiries.
Newcastle Airport CEO, Dr Peter Cock, commented: “This milestone is 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.
“Purchasing this land and developing Astra Aerolab was strongly supported by our shareholders, the City of Newcastle and Port Stephens Council, and demonstrates their commitment to develop and invest in the region’s future. Astra will provide the Hunter region with global connectivity for trade, tourism and jobs.”
The NSW government awarded an $11.7 million grant to kick-off the development of Astra Aerolab to capitalise on the existing economic strengths of the region. The funds will be used for vital infrastructure, including an access road, power, water, gas, sewer and data connections.
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