The NSW Government’s announcement that it will extend financial assistance to small businesses affected by the CBD and South East Light Rail project recognises the project is having an adverse impact on a number of businesses along the construction route.

“While it is regrettable that the CBD and South East Light Rail project is taking longer than planned, extending the rental assistance program until the project’s completion will offer some relief for the impacted businesses,” said Patricia Forsythe, Executive Director of the Sydney Business Chamber. 

“The NSW Government is acting in good faith by providing its financial assistance program to the small businesses affected by the unfortunate delay of this project,” Mrs Forsythe said. 

“The CBD and South East Light Rail project will be a game-changer for Sydney and is a factor in the emergence of George Street as a major retail precinct. Other streets will emerge as a new ‘eat’ and destination streets as a result.

“Since the project was announced, land values in some areas including George Street, have risen, and many buildings particularly in George Street and Alfred Street at the Quay, are being rebuilt or renovated taking advantage of the uplift in values,” she said. 

“The removal of buses from George Street was an early benefit of the project but so long as the hoardings remain many of the advantages will be forgotten.

“The commitment to small businesses that are impacted by the project is a strong sign that the NSW Government is willing to work with business to solve the challenges arising from the unfortunate delays in the construction timetable”, Mrs Forsythe said.