Wodonga's investment prospectus

City of Wodonga

AUTHORS

The Wodonga Investment Prospectus was prepared by Urban Enterprise in collaboration with Wodonga Council. Authors of this report are: Danielle Phyland (Associate) and Jonathan Rochwerger (Director)

DISCLAIMER

Neither Urban Enterprise Pty. Ltd. nor any member or employee of Urban Enterprise Pty. Ltd. takes responsibility in any way whatsoever to any person or organisation (other than that for which this report has been prepared) in respect of the information set out in this report, including any errors or omissions therein. In the course of our preparation of this report, projections have been prepared on the basis of assumptions and methodology which have been described in the report. It is possible that some of the assumptions underlying the projections may change. Nevertheless, the professional judgement of the members and employees of Urban Enterprise Pty. Ltd. have been applied in making these assumptions, such that they constitute an understandable basis for estimates and projections. Beyond this, to the extent that the assumptions do not materialise, the estimates and projections of achievable results may vary.

COPYRIGHT

© Copyright, Urban Enterprise Pty Ltd, 2023. This work is copyright. Apart from any uses permitted under Copyright Act 1963, no part may be reproduced without written permission of Urban Enterprise Pty Ltd.

ACKNOWLEDGEMENT

Urban Enterprise is located on Wurundjeri Woi-Wurrung Country. We pay our respects to elders past, present and emerging and also acknowledge all Traditional Owners of Country on which we work.

Wodonga Council acknowledges Aboriginal and Torres Strait Islander people as the First Peoples of the Country. We also acknowledge them as Traditional Owners and Custodians across various lands. We pay our respect to their Ancestors, Elders, children and young people. We acknowledge the strength and resilience of all Aboriginal and Torres Strait Islander Peoples and recognise their continuous connections to lands, waters and communities across the country.

City of Wodonga

Wodonga is one of Victoria’s fastest-growing regional cities and a thriving economic and service hub.

The municipality is located along the Victorian-NSW border, adjacent to its twin city Albury and about 300 kilometres north-east of Melbourne.

Wodonga is the ideal destination for investment, through its diverse economy and unparalleled access to export, labour and consumption markets across regional, urban and capital cities. Wodonga’s strategic location makes it a gateway to the

surrounding region across southern NSW and North East Victoria, as well as major metropolitan markets across the eastern seaboard.

With the convenience of road, rail and air access, conducting business in Wodonga is seamless. Wodonga is not just a city on the rise, it’s a city set to capture and support global business opportunities for investors.

Wodonga in a snapshot

Wodonga has a flourishing community, with its high quality of life and ability to support residents and workers. The municipality offers relatively affordable housing and, through future residential developments, will cater to a growing population and labour force into the future.

POPULATION

Estimated Residential Population 2021 43,201

Forecast Population 2036 52,414

+9213 (1.3% p.a.)

DWELLINGS

Dwellings 2021

Forecast Dwellings 2036

Age Projections 2021 to 2036

HOUSING MARKET

Median House Price 2023

18,190

23,187

+4997 (1.63% p.a.)

$531,000

$778,000 Victoria

Wodonga is a key employment and service hub, with a robust economy supporting a large business base and workforce. The city accommodates diverse and high-value industries, ranging from primary and trade industries to key population services. It has a strong manufacturing and logistics sector, large defence industry presence and supporting health care services. This offers a variety of investment potential to support industry growth, as well as other opportunities for supporting and complementary industries.

Wodonga has a unique lifestyle offering

The city of Wodonga provides a unique blend of regional living with city convenience. Wodonga is an attractive destination for those seeking a high-quality lifestyle while still being able to access employment and economic opportunities.

NATURAL ASSETS

The natural beauty of Victoria’s border region, with the Murray River, Lake Hume, complemented by picturesque parks, walking and hiking trails.

VIBRANT ARTS AND CULTURE SCENE

Gateway Village provides local galleries and theatres showcasing a range of performances and Indigenous cultural experiences, including the HotHouse Theatre, Jazz Basement and Burraja Gallery.

CENTRAL CULTURAL PRECINCT

Wodonga’s central cultural precinct includes The Cube Wodonga, a regionally significant state-of-the-art entertainment centre supporting the performing arts, community events and conferences and Hyphen – Wodonga Library Gallery which has four gallery spaces and library.

UNIQUE WINE EXPERIENCES

Easy access to the renowned wine regions of Rutherglen and the King Valley.

SNOWFIELDS NEARBY

The neighbouring Victorian and New South Wales snowfields can also be easily accessed with seasonal activities on offer.

COMMUNITY AND RECREATIONAL INFRASTRUCTURE

Provision of community sporting infrastructure (including Wodonga Sports and Leisure Centre, Baranduda Fields sports and community precinct), as well as 72 public playgrounds, catering for many sports and recreational pursuits.

RETAIL SERVICES

More than 100,000 sqm of retail and bulky goods floorspace to service residents, including Wodonga Plaza and Mann Central shopping centres and the expanding CBD capacity in Junction Place.

LEADING HEALTH CARE

Albury Wodonga Health is the regional provider for public health care. It has a total of 337 hospital beds across two hospital campuses and employs more than 3300 staff. The hospital is undergoing significant infrastructure upgrades. There are also more than 140 general practitioners and specialists to support community health and wellbeing.

EDUCATION

More than 20 primary and secondary schools to support families and educate residents as well as nationally renowned tertiary institutes to attract and train the future workforce (Wodonga TAFE, La Trobe University). Wodonga TAFE is the national venue for all defence medics.

HOUSING OPTIONS

Increasing and affordable housing options through future developments like the Leneva-Baranduda growth area (15,000 people), The Quarter, Junction Place, CBA and more. With a median house price of $531,000 (compared to the state median of $690,000) Wodonga is an affordable option for homeowners.

Wodonga is investment ready

Wodonga is as an attractive investment destination, bolstered by a series of major state and national projects that showcase its economic vitality and growth potential. These major projects will enable and support future investment opportunities.

PLACE

($250M)

($112.6M)

Junction Place is regional Australia’s largest urban renewal initiative. The project will double the size of Wodonga’s CBD, delivering quality community spaces, and a mix of retail, entertainment, commercial and residential developments.

The Opal Fibre Packaging Facility is a high-tech corrugated cardboard packaging facility that will be able to produce up to 720,000 square metres of packaging board per day.

Expansion of the Wodonga factory (with a new 7800 sqm building) which will house specialised manufacturing equipment to increase its production capability to provide a new manufacturing line to produce 290 million single-serve pet pouches for cats for Australian and New Zealand markets.

The facility, led by the Australian Gas Infrastructure Group, will use water and renewable electricity from the grid to produce renewable hydrogen. The renewable hydrogen will be blended with natural gas for supply into the existing gas distribution networks.

($40M)

The CBD West site is being transformed into a private development known as The Quarter, with multi-level buildings integrating residential, retail, dining and office space as well as basement and on-site parking. This development site, on the Stanley St side, also includes a four-storey 104-bed private hospital, featuring a hydrotherapy pool, two-storey car park and rooftop garden.

The facility will be the largest regional sporting precinct between Sydney and Melbourne. The precinct will include two soccer fields, netball courts, Australian Rules ground and pavilion facilities. Future development stages will triple the size and capacity of this complex.

Improvements include construction of new mess and living in accommodation, new training facilities, refurbishment and upgrading of existing buildings, construction of new car parks and remedial works and upgrades to infrastructure services.

Master planning is now under way to consolidate regional acute and sub-acute services on a single campus and the priority is to bring 24/7 services together for a better hospital experience. Project will include more beds, new ICU, relocation of maternity and newborn services, new children’s ward, new operating theatres, adult mental health unit, expansion of outpatient spaces and more car parking.

The Inland Rail Project aims to provide a reliable and efficient freight network connecting Albury-Wodonga with Melbourne and Brisbane, providing the largest freight rail line in Australia and creating efficiencies through the ability to double stack containers.

Stage 1 of the project will include a heavy vehicle workshop, heavy vehicle offroad obstacle circuit, main corporate and client building and showroom, and a cyber range.

MAJOR PROJECT LOCATIONS

1. Junction Place ($250m)

2. Opal Fibre Packaging Facility ($140m)

3. Mars Petcare Expansion ($112.6m)

4. Hydrogen Park Murray Valley ($52.2m)

5. CBD West Development ($40m)

6. Baranduda Fields Sporting Complex ($20m)

7. Defence base redevelopment ($360m)

8. Albury-Wodonga Base Hospital Redevelopment ($588m)

9. Inland Rail ($403.5m)

10. Wodonga TAFE’s Logical Innovation Precinct ($22m)

Huon Creek

Leneva

Wodonga supports major business investment

The number of nationally recognised businesses located in the area proves Wodonga to be an exceptionally conducive location for large-scale businesses. Wodonga boasts strong business ties with the logistics and manufacturing industry, tertiary institutes (to support workforce training and skills development) and health care services.

With a rich industrial ecosystem, combined with education and training facilities, Wodonga is a prime destination for big businesses and jobseekers searching for growth opportunities and economic prosperity. The following table lists some of the major employers located in Wodonga, representing a cross-section of industries and a sample of the more than 3000 businesses operating in the municipality.

Benefits of investing in Wodonga

Wodonga is a regional economic and service hub

When combined, the twin cities of Albury-Wodonga are home to about 100,000 residents, making it Australia’s 19th largest city and Victoria’s 5th largest. These cities are the region’s primary location for retail, services and employment, catering to a broader catchment that extends across south-east NSW and north-east Victoria.

This expands the economic base of Wodonga and increases access to businesses, labour and consumers, making it a more attractive location for business investment.

KEY STATISTICS

Large regional business base (12,800) can support workers and complement business operations.

Access to residents (300,000) and visitors (5.5 million p.a.) across the region provides a large pool of consumers to support business activity and growth.

Wodonga has well-established transport connections

Wodonga connects residents, workers, visitors and businesses to major metropolitan centres across the country via major transport infrastructure. This includes major road, rail and air infrastructure that provides access to more than 75 per cent of Australia’s population within 24 hours, as well as major sea and air freight infrastructure.

This ensures convenient, reliable and efficient access to national and global markets, providing a conducive environment for business activity and investment.

ROAD CONNECTIONS

• Hume Freeway connecting Wodonga to Melbourne, Canberra, Sydney, Brisbane (via Pacific Highway) and Adelaide (via Mallee Highway).

AIRPORT ACCESS

• Albury Airport providing access and connection to a range of regional, national and international markets.

RAIL TRANSPORT

• Passenger rail connecting Wodonga to Melbourne, Sydney and Brisbane.

• Development of an Albury-Wodonga station on the future inland rail route providing freight access between Melbourne and Brisbane (to be accessed at Logic Industrial Estate).

Wodonga can support new business investment

Wodonga is investment ready, with a diverse range of employment land supply and key economic areas that can accommodate a variety of industries and facilitate future business opportunities. This supply of suitable zoned and serviced land ensures that businesses of all sizes and sectors can secure suitable locations and operate successfully within the region.

KEY INVESTMENT AND ECONOMIC AREAS

Seven industrial precincts at Logic Estate, West Wodonga, Moloney Drive, Central Wodonga, East Wodonga, Anzac Parade and Baranduda. In particular, Logic Estate has more than 200ha remaining for future development.

A mixed-use area in West Wodonga, which can support investment in commercial and residential uses.

Four commercial precincts that provide retail services catering to surrounding residents and businesses in industrial areas.

A thriving activity centre within Wodonga Central Business Area (CBA) that supports retail services and hospitality for residents, workers and visitors.

A major health precinct beside Martin Park (Albury Wodonga Health), surrounded by supporting health businesses, clinics and allied health.

An education precinct in West Wodonga, including La Trobe University and Wodonga TAFE, which provides training, education and research with a major contemporary trade training centre.

The Albury Wodonga Military Area in Bandiana, which trains and supports about 6000 personnel annually, utilises a range of local support services and provides significant infrastructure.

These areas provide a broad economic base which facilitates a diverse range of investment opportunities in Wodonga to service residents, workers and businesses.

Wodonga has access to a regional workforce

Wodonga offers a diverse, skilled and stable regional workforce across various age groups and possess a blend of labourers, professionals, technicians and trades, administration and community and personal service workers. There is a diverse supply of workers that can be attracted to growth and emerging industries such as construction, health care and social assistance, education and training, retail, hospitality, as well as transport and logistics.

KEY STATISTICS

Access to large regional labour force (65,600)

Diverse range of skills on offer – including white collar workers (ie. managers, professionals) and blue collar workers (ie. technicians, trades, labourers).

Large pool of skilled workers with education and training qualifications (40,600).

Large commuter workforce – 40 per cent of the local workforce (8802 workers) travel into Wodonga for work.

Key investment opportunities

There are significant opportunities for investment in Wodonga in the following growth and emerging sectors.

Central business area

WHY INVEST?

• The CBA is a thriving activity centre providing more than 50,000 sqm in commercial floorspace that supports retail and hospitality businesses. This includes key anchor shopping centres such as Wodonga Place, Wodonga Plaza and Mann Central, as well as shopping trips along High St and Elgin Boulevard.

• Access to a large consumer base – including regional residents (300,000) and visitors (5.5m) – to support consumption.

• Opportunity to create a vibrant and active CBA that caters to an increasing local population (forecast to grow more than 20 per cent above 50,000 residents by 2036).

• Access to a skilled and diverse workforce, including professional office-based workers and retail and hospitality workers.

• State planning policy identifies Wodonga as one of 10 major regional centres in Victoria planned to accommodate and attract significant growth and investment.

• The CBA has undergone a significant revitalisation, experiencing 18 per cent growth between 2016 and 2021.

POTENTIAL OPPORTUNITIES AND FOCUS AREAS

• Retail and hospitality. Leveraging the existing available commercial activity centre to invest in high-quality retail, bulky goods, contemporary dining and entertainment experiences to increase amenity to attract local consumption.

• Commercial accommodation. The delivery of quality, contemporary and diverse commercial accommodation is critical to offer sufficient supply to meet latent demand in the city. This includes accommodation to suit a variety of markets, including families, grey nomads and business visitors.

• Residential infill developments. Including diverse high-density housing to support young workers, ageing residents and promote housing affordability.

• Mixed-use developments including office, commercial and residential uses that will help grow and activate the CBA and support future investment in professional services, retail and residents.

• Government services. Capitalising on its strategic location, available professional workers and role as a service hub to attract decentralised state and national government agencies.

MAJOR PROJECTS AND ENABLERS

• Junction Place ($250m) – 50,000 sqm of land, across five precincts, being converted into community, retail, entertainment, commercial and residential developments.

• CBD West Development ($40m) – large-scale development integrating residential, retail, dining and office space, together with a private hospital providing post-operative care.

Manufacturing

WHY INVEST?

• Leading economic sector in Wodonga

• Large local (2400) and regional (6687) manufacturing workforce

• Key driver of local economic output ($2.2bn or 26 per cent) and regional exports ($1.4bn or 41 per cent)

• Investment in manufacturing is a regional, state and national investment priority (Austrade, Invest Victoria and Invest Albury-Wodonga).

• Suitable land supply (seven industrial precincts), including vacant and serviced industrial land to accommodate investment.

• Established road, rail and air transport corridors for distribution.

• Access to research and innovation resources to support advanced manufacturing (La Trobe University, Wodonga TAFE)

POTENTIAL OPPORTUNITIES AND FOCUS AREAS

• Advanced manufacturing. Wodonga is well-placed to support the transition to more advanced production that utilises national supply chains and research and development capabilities (including Ag Tech)

• Construction materials. With major infrastructure projects in the pipeline, as well as impending residential and commercial developments, demand for locally produced construction materials will increase.

• Food manufacturing. To help meet increasing global demand for food, including for niche products such as organic and plant-based food.

• Defence manufacturing. Capitalising on the existing defence base and proposed redevelopment to provide supporting materials, such as heavy vehicle parts, munitions and other high-tech products.

MAJOR PROJECTS + ENABLERS

• Opal Fibre Packaging Facility ($140m) – A high-tech corrugated cardboard packaging facility that will be able to produce up to 720,000 square metres of packaging board per day.

• Mars Petcare Expansion ($112.6m) – Expansion of the Wodonga factory (with a new 7800 sqm building) which will house specialised manufacturing equipment to increase its production capability and create more than 60 new jobs.

• Wodonga TAFE’s Logical Innovation Precinct ($22m) – A heavy vehicle workshop, heavy vehicle offroad obstacle circuit, main corporate and client building and showroom, and a cyber range.

• Defence base re-development ($360m) – Construction of new mess and living in accommodation, new training facilities, refurbishment and upgrading of existing buildings, which will support about. 6000 defence personnel trained annually.

• Logic Industrial Estate – Large-scale industrial precinct with fully-serviced sites for sale and land parcels able to be customised to meet any development requirements.

Transort and logistics

WHY INVEST?

• Wodonga is a leading strategic transport hub for the eastern seaboard. Transport corridors for distribution provide connection to 75 per cent of the national population within 24 hours travel time.

• Seven industrial precincts to support warehousing, packaging and distribution of goods.

• Transport and logistics is an economic growth sector (1350 jobs, $425m output, $169m regional exports).

• Complements the strong manufacturing industry through the storage and distribution of locally made goods.

POTENTIAL OPPORTUNITIES AND FOCUS AREAS

• Warehousing and storage. Packaging and storage of materials (produced locally or imported) proximate to the strategic intermodal point in Wodonga to improve supply chain efficiencies and assist in future distribution.

• Transport and distribution. Investment in distribution services that can transport locally or imported goods and services and support the large manufacturing sector as well as primary producers in the region. This could include road and rail services and/or a distribution centre.

• Supply chain. Opportunities for service-industrial businesses to support the transport and logistics sector and facilitate product movement across the supply chain, including equipment and vehicle hire, automotive services and building services.

MAJOR PROJECTS + ENABLERS

• Opal Fibre Packaging Facility ($140m) – A high-tech corrugated cardboard packaging facility that will be able to produce up to 720,000 square metres of packaging board per day.

• Intermodal Transport and Logistics Hub (Logic Industrial Estate). Capitalise on connectivity to road, rail (and future inland rail) and air to support the effective and efficient distribution of goods.

• Inland Rail ($403.5m) – Proposed freight network connecting Wodonga with Melbourne and Brisbane. Including upgrading existing rail corridor between Wodonga and Beveridge (Victoria), as well as Wodonga and Illabo (passing through the towns of Albury, Wagga Wagga and Junee)

• Wodonga TAFE’s Logical Innovation Precinct ($22m) – Stage 1 of the project will include a heavy vehicle workshop, heavy vehicle offroad obstacle circuit, main corporate and client building and showroom, and a cyber range.

• SCT Logistics – Located at Logic Industrial Estate, SCT Logistics (train/truck) offers a full complement of transport and logistics services that can transport goods and services from Wodonga to every destination in Australia.

Renewable energy

WHY INVEST?

• Aligns with regional, state and national investment priorities.

• Located near the Ovens Murray Renewable Energy Zone.

• Access to a skilled local and regional labour force.

• Access to an efficient local supply chain (including access to materials and transport).

• Access to a reliable energy supply.

• Access to research and innovation resources (La Trobe University, TAFE).

• Supports commitment to Victoria’s long-term target of net-zero greenhouse gas emissions by 2045.

POTENTIAL OPPORTUNITIES AND FOCUS AREAS

• Hydrogen energy. Global demand in hydrogen is increasing and, combined with the capabilities of Wodonga to support the storage and transportation of hydrogen energy, makes it an increasingly attractive proposition.

• Resource recovery. Opportunities exist to invest in recovery facilities that reuse waste generated by manufacturing businesses. This includes the recovery of food processing and construction waste materials for alternative purposes, which will provide value-add to existing production.

• Electric vehicle (EV) infrastructure. Investment in EV infrastructure, such as charging stations, to support the increase in green traffic, both car and trucks, along the road transport corridors.

• Energy supply chain. Investment in support services to create a local energy supply chain to support construction and operation renewable projects, including equipment, logistics, construction and maintenance services.

• New tech. Investment in research and development activities to support new technological innovations in renewables

MAJOR PROJECTS + ENABLERS

• Hydrogen Park Murray Valley ($52.2m) – The facility, led by the Australian Gas Infrastructure Group, will use water and renewable electricity from the grid to produce renewable hydrogen. The renewable hydrogen will be blended with natural gas for supply into the existing gas distribution networks.

• The Victorian and NSW governments are investing $10 million each in grant funding to support the design and delivery of the Hume Hydrogen Highway between Melbourne and Sydney.

• Wodonga is located near the Ovens Murray Renewable Energy Zone (REZ). Provides opportunities for investment in renewable energy, as the Victorian Government will support network investment and renewable energy development as part of its REZ planning.

How Wodonga Council can assist you Looking to invest? Contact us

Relocating or starting a new business is a significant investment and Wodonga Council is committed to supporting and facilitating a seamless transition. The council has a dedicated Business Concierge that will support all your business needs through the process and will handle all enquiries.

SITE SELECTION

When choosing a site for your business, our team are on hand to assist. We will use our local knowledge to connect you with essential service providers, including, real estate agents and the dedicated planning team at Wodonga Council.

ACCESS TO LOCAL ECONOMIC DATA AND INSIGHTS

We can provide useful data and reports from various government and independent sources, granting you insight into the local and regional economy’s current and future trends.

GUIDANCE ON INCENTIVES AND GRANTS

Our team is up to date on available incentives and grants, where we can provide support and connect your business to state and federal government assistance. We can guide you through the process to access these funding opportunities.

AGILE PERMIT APPROVALS

Our dedicated Business Concierge service is readily accessible, at no cost, to provide invaluable assistance in guiding applications through the regulatory process, delivering a seamless and efficient experience for prospective investors.

WODONGA ECONOMY

Find the latest insights into the Wodonga economy, jobs and business trends at: wod.city/economy

We know that being a part of the Wodonga business ecosystem will be highly advantageous and we are here to support your transition. We look forward to welcoming you to the region.

WODONGA COUNCIL

104 Hovell St, Wodonga, VIC 3690

(02) 6022 9300

edev@wodonga.vic.gov.au

wodonga.vic.gov.au/Business-Investment