THE Hunter is positioning itself for an economic boom, with infrastructure giants Australian Rail Track Corporation, EnergyAustralia and Hunter Water ready to spend $15 billion on projects over the next 10 years in preparation for the region's projected population of 800,000 by 2030.
While other regions across NSW are floundering in the current economic climate, the Hunter is going from strength to strength, with all indicators showing the area is driving the NSW economy.
NSW Treasurer Eric Roozendaal, Hunter Business Chamber officials and an economist from the Hunter Valley Research Foundation say the region is doing "extremely well" across all sectors, reflected in an unemployment rate of just over 6 per cent, considerably lower than the Illawarra at 8.3 per cent.
Mr Roozendaal described the Hunter as a powerhouse of the NSW economy and one of the powerhouses of the Australian economy.
He said consumer and business confidence had lifted in the Hunter in the June quarter and jobs had increased in the mining and manufacturing sectors.
Hunter Business Chamber chief executive Peter Shinnick said the building sector was about to receive a shot in the arm, with Bovis Lend Lease ready to roll out tens of millions of dollars in contracts through the Schools Building Education Revolution program.
In addition, the Australian Rail Track Corporation, EnergyAustralia and Hunter Water had long-term plans for the Hunter.
The rail corporation has recently released its 2009-2018 Hunter Valley Corridor Capacity Strategy, listing $2.5 billion in projects.
EnergyAustralia will spend more than $11 billion on capacity upgrades and Hunter Water more than $2 billion on various projects including Tillegra Dam.
"We're talking major programs and major jobs and this is government spending. On top of that is the substantial investment by the private sector," Mr Shinnick said.
Hunter Business Chamber member and Maitland Chamber of Commerce and Industry president Jennifer Nichols said there was still a lot of interest from major businesses such as Officeworks in booming centres like Maitland.
"And they do intensive research before they move in. They are putting their hands up and saying Maitland and the Hunter is where we want to be," Mrs Nichols said.
"We have been well prepared in terms of our attitude and the way we took on the economic crisis, which is reflected in reports from the Property Council and Hunter Valley Research Foundation who both agree we weathered the storm quite well."
Hunter Valley Research Foundation economist Andrew Searles said the Hunter had grown stronger because its economy had diversified since the 1990s.
"There have been significant structural shifts in the way the region's economy has moved, with more being employed in the knowledge sector such as health, education, property development services and engineering," Mr Searles said.
Mr Shinnick said the port's coal-loading capacity was the key to the Hunter's economic growth.
"In 2013 the capacity at Newcastle Port will be 200 million tonnes, double what it currently is," he said.
"This will lead to a whole bunch of other investments by resources-based companies.
"If you thought we went through an economic boom in 2008, wait for another year or two. It will be bigger and better."
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