POEM members are sure that Eden people will welcome the benefits for the community of proceeding with this project.
Overview: Key economic indicators
- 190 berths Capex $8.4 million
- 23 fulltime jobs Turnover $2.2 million p.a.
- Gross profit $900,000 p.a.
- Substantial expenditure by marina users
- supplies, services, maintenance and repairs
- Increased year round Snug Cove tourism
- Investment in the BP and Mobil sites
This information is largely available on an annual basis over a 11 year period.
POEM would welcome an independent review of the estimates.
Snug Cove Marina Economic Indicators – Details and Sources
- Initial private investment including design, approvals, project management and contract supervision and 15% contingency $8.4 million. International Marina Consultants
- Direct and Indirect marina employment generated by the marina; 23 people- GHD consultants
- Marina occupancy rising from 40% to 90% over ten years- International Marina Consultants
- Total annual turnover when fully developed: $2.2 million-International Marina Consultants
- Annual net profit after cost of capital at 8%, before tax and depreciation: $900,000-International Marina Consultants
- Annual lease payments to the NSW Government of about $130,000-International Marina Consultants
- Annual expenditure by the marina operator, largely in Eden, on goods and services of about $500,000-International Marina Consultants
- Substantial expenditure by owners, skippers and crew of the several hundred visiting and permanent vessels occupying the marina over the course of a year
- Real estate investment in Snug Cove: $100 million over 10 years (probably commencing with about $40m in stages on the BP site)-Bega Valley commercial builder.
- A major boost to the slipway and to other existing and potential Snug Cove and town businesses.
- plus the flow on benefits of becoming the maritime hub for south east Australia attracting many more visitors by sea and land.
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POEM March 2016