Tenterfield Shire Council has already spent nearly $2.1 million, some of it borrowed, on Tenterfield’s industrial estate, which has only seen two of the 15 blocks sold.
The council is already 54 per cent over budget, with an estimated $13,500 needed to complete the project.
It took out an $800,000 loan on December 29, 2009 at a fixed interest rate of 8.550 per cent over a seven-year term.
Mayor Toby Smith defended the project, saying “I think the initiative of the industrial site is very good”, but conceded that the project’s aim of attracting businesses to Tenterfield had not worked, with the two sites in use sold to local businesses.
“It cost us a little more than we expected. I think we did the best we could at the time,” Cr Smith said.
“We are going to have a report done on that very shortly and see how we can market it. We could give incentives to people to develop in Tenterfield,” he said.
Cr Smith said the marketing plan could be presented at the next council meeting.
According to the Mayor, Tenterfield is one of the few country towns with an increasing population, which will help in marketing the town to businesses.
The affordable lifestyle, convenience of driving to all amenities within minutes, and the friendly nature of local residents are just some of the main drawcards to Tenterfield.
Meanwhile, Cr Smith said all the real estate agents in the town had the industrial estate on their books and there were promotional signs at the entrances into Tenterfield.
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Story: Rebecca Brown
