Newcastle Airport purchases land for Astra Aerolab

Newcastle Airport this week took a giant step toward the development of Astra Aerolab Business Technology Park when it exercised its option to purchase 76ha of land adjacent to the airport."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," said Newcastle Airport CEO Dr Peter Cock."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."In September 2018, NSW Deputy Premier, John Barilaro MP, announced the award of a $11.7 million grant to kick-off the development of Astra Aerolab to capitalise on the existing economic strengths of the region, the land purchase means progress on the site can begin as early as next month.City of Newcastle Lord Mayor Nuatali Nelmes welcomed the crucial next step in securing a significant number of local, high skilled jobs for the Greater Newcastle area. "The technology precinct is set to generate over 5,500 jobs in defence and aerospace technology, advanced manufacturing and research and development and will put Newcastle and the Hunter Region at the forefront of global aviation innovation."Port Stephens Mayor Ryan Palmer says the purchase of land demonstrates Port Stephens Council's ongoing commitment to transformative growth."By investing in our region's airport, we're establishing ourselves as a dynamic destination for both business and tourism well into the future. We're pleased to support expansion of the airport to focus on the development of an innovative aerospace precinct, which will benefit locals and visitors. This will set up Port Stephens - and the whole of the Hunter Region - to truly participate on the world stage as a premier tourist and business destination."Astra Aerolab: Key facts