Sydney Olympic Park business community calls for financial backing for precinct

Backed by more than 200 businesses, the Sydney Olympic Park Business Association (SOPBA) wants the NSW Government to financially commit to the redevelopment of ANZ Stadium and the future growth of Sydney Olympic Park.

For more than 15 years, the former Olympic Stadium has been the cornerstone of Sydney Olympic Park, which has grown into arguably the most successful post-Olympics precinct in history, contributing significantly to the NSW economy.

The NSW Government has recently announced $600 million will be preserved for the redevelopment of Sydney’s sporting stadiums – and the future of the city’s Olympic precinct can be guaranteed with a major upgrade to the Olympic stadium.

SOPBA Chief Executive Karen Grega explains “not only do Park businesses directly and indirectly benefit from the Stadium’s extensive local and international sporting and entertainment events schedule, but so too do many businesses in Western Sydney and Parramatta in particular.

“Greater Western Sydney deserves both a redeveloped Olympic Stadium and an upgraded Pirtek Stadium in Parramatta. It shouldn’t be one or the other.”

Grega highlighted recent modelling by PricewaterhouseCoopers that cited the economic output of the Homebush Bay-Silverwater area, which takes in Olympic Park, was $5.12 billion last financial year, nearly double what it was in 2001/02.

This ranks Sydney Olympic Park area as the 20th biggest local economy in Australia.

In June and July 2013, five 80,000-strong crowd events (State of Origin I & III, the British and Irish Lions Test, the Manchester United v A-League All Stars and the Socceroos’ World Cup qualifying match) generated more than $100 million for the NSW State economy in two months.

The PricewaterhouseCoopers report also estimated that ANZ Stadium’s annual contribution to the NSW economy is $301 million, a figure that is expected to rise to $474 million a year with the proposed redevelopment.

Grega explains “NSW needs an 80,000 capacity stadium to remain competitive in attracting major local and international events.

“Talk of a 65,000-seat stadium at Moore Park, with the capacity for public ticketing further reduced by seats allocated to SCG Trust Members, will take the state back 15 years.”

After extensive study and debate in the lead-up to the Sydney Olympics bid, the NSW Government made the decision to build Sydney’s major events stadium in the geographical heart of the Sydney.

Grega also points to public support for the redevelopment of ANZ Stadium, referring to a recent Galaxy survey of 1,013 Sydneysiders, among whom a significant 76% of respondents supported the redevelopment of ANZ Stadium, with 45% rating the upgrade of the Olympic Stadium as a higher priority than Allianz Stadium (29%) or Pirtek Stadium in Parramatta (25%.)

The survey showed that nine out of 10 Sydneysiders agreed that Sydney and NSW needed a major stadium with 80,000-plus seats.

SOPBA’s lobbying is based on a belief that an investment by NSW Government in the ANZ Stadium and the Sydney Olympic Park will further increase revenue for the State.

A statement issued by SOPBA expained that such revenue would be based on “the precinct’s collaborative approach to winning and staging major events concurrently at other Olympic Park venues, including the Novotel/IBIS and Pullman Hotels, Allphones Arena, Sydney Showground (home of the Royal Easter Show), Waterview in Bicentennial Park and the 10 venues, 100 function rooms available for business events.”

The statement added “in January 2015, ANZ Stadium will host the 2015 Asian Cup and the Sydney Olympic Park Tennis Centre will host the Apia International.

“In August, Allphones Arena will host the Netball World Cup.

“The WestConnex motorway, with a new on-ramp from Hill Road onto the M4, the potential of light rail linking Sydney Olympic Park and Parramatta and the construction of Western Sydney’s first international airport at Badgerys Creek, will enhance Olympic Park’s accessibility and customer experience for the 13.2 million people currently attracted to the Park annually for major entertainment, sporting and business events.

“It is now time for (NSW) Government to enhance an iconic asset it takes back in 2031 under its contract with the operators of the Olympic stadium, and at the same time support a precinct with national and international significance.”

Images show plans released in November 2014 for the redevelopment of NZ Stadium. 

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