Transform Peel comprises three integrated and strategic projects: a 28,000 ha Peel Food Zone; a 1000ha Peel Business Park; and an Integrated Water Resource Solution.
The State Government’s investment of $49.3 million via Royalties for Regions will be augmented with private capital investment estimated to be $2.5 billion by 2050.
Transform Peel is projected to generate more than $1.8 billion in export earnings over the next three decades, culminating in $16.2 billion a year economic output by 2050.
“Transform Peel is an ambitious project; the focus on sustainable food and water supplies for the region differentiate it from anything previously conceived,’’ Mr Fitzpatrick said.
“Along with its vast economic opportunities, the Peel Food Zone and Integrated Water Initiative will provide sustainable food and water supplies for the entire community for generations.”
Mr Fitzpatrick said Transform Peel would combine the very best of public and private sector knowledge and investment to deliver economic, community and environmental benefits over future decades.
“Transform Peel will be a catalyst for major investment and employment that will give more people an opportunity to live in a region that offers the best of both worlds – a relaxed coastal lifestyle close to Perth and the South-West,” he said.
“The 33,000 jobs that the Transform Peel initiative will help to create will be as varied as the people that choose to live in the region.
“Initially there be transactional, development, and building opportunities and these will grow into retail, office and skilled jobs.
“With the development of the technology campus at Peel Business Park, researchers, technicians and innovators will be in demand. I am confident the projects will trigger further development and growth which will support our children and their children.”