Tamworth Global Gateway Park: industrial precinct centred around intermodal hub expected to bring 1100 jobs, councillors to vote on multi-million dollar loans

Tamworth Regional Council will decide on Tuesday whether to take out two loans at a total of $28.8 million to put shovels in the ground on the first stage of the industrial park centred around the intermodal rail hub project.

It's up to councils to drive their own economic growth, mayor Col Murray said.

"I've always been excited by the opportunities that this long-term investment and strategy can potentially deliver to the city," he said.

"It's not often a city has within its boundary the opportunity for such a huge industrial precinct to strengthen the region's economy.

"The announcement of the state government to finalise the funds for the railway line upgrade was pivotal to the success of the whole business park."

A report to the councillors recommends a $12.6 million spend to develop 30 hectares of land for release in the first stage. It assumes sales in the first stage will total up to $28.9 million.

Local real estate agents Burke and Smyth have been awarded the sales and marketing contract in partnership with Australia's largest commercial real estate company CBRE.

Infrastructure for access to and from the intermodal rail hub will need to be completed by September 2021, when the hub is expected to be operational.

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A forecast conducted by Urbis found the site would meet demands and be highly attractive to industrial tenants.

"Its access to regional transport infrastructure, particularly the rail network through the IMT [intermodal terminal], and availability of large undeveloped sites makes it suitable for larger, more sophisticated, regionally serving industrial tenants," it reads.

A total of $104.4 million will have been spent on the precinct by TRC and the state and federal governments if the stage one plan is approved.

All of the first land packages made available in stage one are expected to be sold by June 30, 2025.