New convention centre will deliver economic dividends

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New convention centre will deliver economic dividendsCanberra’s property industry welcomes a new report that finds a world-class convention centre will deliver economic dividends.The report, Australia Forum – and its potential economic benefits, was prepared by EY on behalf of the Canberra Business Chamber and Canberra Convention Bureau.According to the report, construction of the Australia Forum will result in benefit cost ratio (BCR) of 2.4 over 20 years. “Clearly, there is a strong business case for a new convention centre in Canberra, and industry supports investment in this major piece of infrastructure,” says the Property Council of Australia’s ACT Executive Director, Catherine Carter.”The Property Council acknowledge the considerable body of work undertaken by the Canberra Business Chamber and Canberra Convention Bureau over many years. This latest piece of research underscores the importance of a convention centre for our city’s future.”The next step is for the ACT Government to develop a robust long-term infrastructure plan for our city. While we welcome Chief Minister Andrew Barr’s commitment to urban renewal, we need a plan that establishes Canberra’s infrastructure priorities for the next thirty years.”Despite operating in a constrained economy, a range of significant projects – from City to the Lake to Capital Metro – are currently being rolled out. It is essential that we determine our priority projects, develop a plan and work to a timetable to ensure we deliver them.”A comprehensive, easy-to-understand infrastructure plan, which outlines how these significant projects will be funded, is essential.”Our region currently lacks a venue able to host major national and international meetings. A new convention centre is an essential piece of infrastructure for our growing capital – one that will create jobs, boost business confidence and help us build our city for the next century,” Ms Carter concludes.Media contact: Catherine Carter, ACT Executive Director, 0412 330 079