Property Council NSW Executive Director Katie Stevenson said it was a much-needed step forward for industry and reflects the tireless efforts of the Property Council to highlight the scale and productivity impacts of the issue.
"The Property Council has been a strong and consistent champion for a comprehensive strategy to tackle the chronic challenges of industrial land supply in NSW," Ms Stevenson said.
"In February last year, our NSW Industrial Outlook event launched a campaign to address the severe shortage of industrial land, including calls for a Ministerial Taskforce on Industrial Land Supply and Activation to be established.
"We identified the urgent need to examine the policy settings around employment lands in NSW, highlighted by development stalling in the Mamre Road Industrial Precinct and only two development approvals in the Western Sydney Aerotropolis having been issued since 2021.
"Our advocacy has played a pivotal role in bringing attention to the issue and, while this Plan is a testament to that persistence, now it's time to deliver. As Atlas Economics forecasts highlighted in October 2024 there is less than one year's supply of serviced industrial land left in Sydney so there is no time to lose," she said.
Ms Stevenson said swift implementation will be critical for the supply of well-located, well-serviced industrial lands to underpin supply chains, construction materials and housing.
"Our focus is on outcomes - what matters now is that the Plan is delivered quickly and effectively to address the urgent needs of industry and the economy. We'll continue to work with government on solutions to make the vision outlined in the Plan a reality," she said.
The Property Council's national research launched in partnership with BIS Oxford Economics demonstrates the vital role that industrial assets play in supporting Australian business activity, with the industrial sector contributing more than $70 billion annually to the state's economy.
"The coming months will be critical to ensuring industrial lands are unlocked so that with the right infrastructure and planning support, we can drive long-term economic and employment growth in NSW," Ms Stevenson said.
