A memorandum of understanding between MidCoast Council and Newcastle Airport aims to bring long term economic growth to the region.
The agreement will help the MidCoast leverage the expansion of Newcastle Airport to capitalise on new visitor markets and potentially attract new businesses.
In welcoming the collaboration, MidCoast Council's General Manager Adrian Panuccio, said it represents a new era of opportunity for the region.
As part of the wider Hunter Airports Strategy developed by the Hunter Joint Organisation of Councils, Newcastle Airport Ltd and MidCoast Council will investigate opportunities for collaboration to aid economic development, international tourism visitation, air freight capabilities and a range of general aviation activities.
"This presents opportunities for the promotion of the Taree Regional Airport as a secondary hub for Newcastle Airport's general aviation activities and for the development and expansion of freight services at Taree," Mr Panuccio explained.
Newcastle Airport CEO Dr Peter Cock said the memorandum of understanding was a positive move for both parties given the proximity of the Taree Regional Airport to Newcastle.
"We look forward to working closely with MidCoast Council to realise the opportunities to drive visitation to the wider Barrington Coast region, boost industries and further enable supply chain and air freight logistics in our regions," Dr Cock said.
"Our catchment extends north to Taree, so it makes sense to work together and be aligned in our goals to achieve great things for our extended North Coast communities."
Supporting visitors to the Barrington Coast will also be on the agenda for Council.
"We will be working with Newcastle Airport on marketing opportunities to bring visitors, including international visitors, to the Barrington Coast," Mr Panuccio added.
Other opportunities include collaborating on inbound and outbound trade investment delegations.
