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The Property Council has backed the federal government's announcement of funding for a new business case for fast rail between Sydney and Wollongong.
A fast rail plan that would cut the Wollongong-Sydney travel time by more than half is under investigation by the federal government.
The initial funding of $20 million for the Faster Rail project has been boosted to $40 million.
That is to allow the development of business cases for five more fast rail corridors - one of which is the Wollongong-Sydney link.
It's been proposed the top speed of the fast rail would be around 160km/h, which would reduce the Wollongong-Sydney travel time to about 31 minutes.
The business cases are not a guarantee that faster trains will become a reality in the Illawarra, though.
Instead, the research will be used to determine future priorities for funding and construction.
Property Council Illawarra regional director Michelle Guido said on Friday that rail connectivity is key to the future growth and economic development of the Illawarra region.
"This business case is a vital step towards illustrating the benefits of faster rail for our region and the importance of first-class transport links to Greater Sydney to provide further economic and employment opportunities for our local communities," Ms Guido told the Mercury.
"The Illawarra region with Wollongong at its centre is the third largest economy in NSW and is fast becoming one of the most popular regions to live, work and play.
This article first appeared on www.illawarramercury.com.au
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