The federal government has committed $10 million towards the project.
Federal Member for Cowper Pat Conaghan said the enterprise park, owned by Coffs Harbour City Council, would encourage businesses to relocate over the long-term.
The investment is expected to create jobs on the North Coast during the construction of the park’s roads, drainage, water, sewer, electricity supply and other infrastructure requirements.
“Investing $10 million in this great enterprise precinct will see its roads, drainage and services built so that business tenants can take up a position in the 98-lot development,” Mr. Conaghan said.
Coffs Harbour City Council provided initial funds towards the $25 million project after the Northern Joint Regional Planning Panel approved the Enterprise Park’s Development Application in July 2017.
The $10 million federal grant comes from the Regional Growth Fund that has so far provided 17 grants of $10 million or more to councils and organisations across Australia for transformational projects to support economic growth.
Coffs Harbour Mayor Councillor Denise Knight said the Enterprise Park will boost the local economy and establish another sustainable economic asset for the community.
“With the ink now dry on the Grant Funding Agreement, this is an exciting time for the city. The new Enterprise Park is targeted at bringing new businesses, new opportunities, new families and new jobs into the region,” Ms. Knight said.