SGS prepared a business case for a range of investments in North East Victoria’s rail trails network. The analysis to consider the feasibility of the rail trail investments included:
- An assessment of the proposed trail options and their conformity to government policy
- An assessment of the socio-economic situation of the surrounding areas
- A review of best practice trail construction and management from Europe, North America and New Zealand
- An analysis of the market for the trails and the likely demand
- An economic impact assessment (EIA) to measure the degree to which the economic stimulus (visitor spending) would accumulate into total economic activity levels within the region and drive local employment
- A cost-benefit analysis comparing the costs of the trail (construction and maintenance) with the financial benefits (visitor spending) and the wider social and environmental benefits
- An assessment of funding opportunities for the trail
- Finally a risk analysis of the project was performed.
The resulting business case was thorough and made a compelling case for why investment in the trails was required. The business case was used for applications for grant funding and to demonstrate the trail’s benefits to the region and communities.