Snug Cove Marina: Economic and Financial Benefits for the Eden Economy

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