The North East Link will create 10,300 jobs during construction and deliver $1.30 to the Victorian economy for every dollar invested.
The business case for the North East Link, released today, shows that the mega-project will give workers in Melbourne’s north east access to 56,000 new job opportunities and deliver $12.5 billion in Gross State Product to our economy.
The project’s benefit to cost ratio increases to $1.40 for every dollar spent when wider economic benefits, such as better freight connections, are considered.
Once built, the missing link between the Eastern Freeway and the M80 Ring Road will take 15,000 trucks off local roads and cut travel times by up to 30 minutes.
Upgrades to the Eastern Freeway will streamline traffic, reduce congestion and reduce travel times, and the new Doncaster Busway will deliver 30 percent travel time savings for buses.
Most importantly, the project will give local roads back to local people – taking 32,000 vehicles per day off Greensborough Road, 14,000 off Fitzsimons Lane, 9,000 off Rosanna Road and 8,000 of Manningham Road.
Business case studies also found there would be about 100 fewer crashes every year on local roads in the north east.
Consultation has been underway since the project was first announced and community input has informed designs.
The business case has been submitted to Infrastructure Australia today.