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300-340 Barry
Road,
Campbellfield
Economic Benefits Assessment
December 2025 (Updated February 2026)
Prepared for Zerra DC
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Acknowledgement of Country
Urbis acknowledges the Traditional Custodians of
the lands we operate on.
We recognise that First Nations sovereignty was
never ceded and respect First Nations peoples
continuing connection to these lands, waterways
and ecosystems for over 60,000 years.
We pay our respects to First Nations Elders,
past and present.
The river is the symbol of the Dreaming and
the journey of life. The circles and lines
represent people meeting and connections
across time and space. When we are
working in different places, we can still be
connected and work towards the same goal.
Urbis is committed to incorporating our respect
for First Nations cultures, peoples and
storytelling in our work across the Country. We
are proud to have partnered with Darug Nation
artist, Hayley Pigram, and to profile her artwork
- Sacred River Dreaming.
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Contents
Introduction 4
Key Findings 5
1 Need for Data Centres 6
2 Employment & Economic Benefits 11
Appendices 16
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Introduction
Urbis has been engaged by Zerra DC to assess Construction costs and timing indicate:
the economic benefits associated with the
• Total construction cost of $1.11billion excluding
proposed Project Dune data centre at 300-340
GST (approximately $1.22billion including GST)
Barry Road, Campbellfield. This report
(Stages 1-6, for the delivery of the concrete
accompanies s a planning permit application
shells only)
through the Development Facilitation Program
(DFP). The assessment relates to all 6 stages of • Construction timeframe of approximately 12
the project. years (Stages 1-6)
The analysis combines Urbis’ in-house expertise Economic modelling shows that during the
with data from the REMPLAN modelling tool to construction phase the project will generate:
quantify the potential employment and economic • 407 full-time equivalent (FTE) jobs per annum
benefits generated by the development. These
(168 direct, 239 indirect)
benefits will accrue during both the construction
phase and ongoing operations. The methodology • $66million in gross value added (GVA) per
is outlined later in this report. annum ($27 million direct, $39million indirect)
Proposed Development Once operational, the facility is projected to
deliver each year:
Based on information provided by the proponent,
Project Dune is anticipated to deliver: • 670 ongoing FTE jobs (255 direct, 415 indirect)
• Total capacity of 336MW across 6 stages • $158 million in total annual gross value-added
($78million direct, $80million indirect)
• Approximately 211,460 sq.m of total Gross Floor
Area (GFA) on a circa 22.1 ha site.
Key Assumptions and Economic Impact
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Key Findings
The proposed data centre in Campbellfield will
Development Proposal
deliver significant economic benefits to local and
regional economies through job creation and
value generation during both construction and $1.11 B ~12 Years
ongoing operations.
Est. Total Data Shells 2026 – 38
• With a total construction cost of $1.11 billion (excl.
Construction Costs Anticipated Construction
GST) for all the 6 stages, the project will generate
(Stages 1-6) (excl. GST) Timeframe (Stages 1-6)
significant construction-related jobs throughout
its anticipated 12-year delivery timeframe.
Significant Social & Economic Benefits
• Construction of the proposed development will
support an average of 407 direct and indirect full
time equivalent (FTE) jobs per annum over the 407 670
construction period, including 168 direct and 239 Total Annual FTE1 Jobs Total Annual Ongoing
indirect jobs. During Construction FTE1 Jobs at Capacity
• These jobs are estimated to generate a total of
$66 million of annual gross value added (GVA) to
the State economy, for each year of the 12-year $66M $158M
delivery period.
Total Annual Construction Total Annual Ongoing
• It is estimated that the overall development will GVA2 to VIC Economy GVA2 to VIC Economy
support 255 FTE direct on-site jobs on an ongoing
basis across the 6 stages, at capacity and a further
415 indirect FTE jobs within Victoria as a result of
flow-on effects.
• There will be an estimated total of $158 million
total annual GVA ($78 million direct & $80 million
Deliver Skilled Diversification Support Data Investments In Higher Taxation
indirect) to the Victorian economy on an ongoing Jobs in the of Local Storage Needs for Green Energy & Revenue for
basis from the daily operation, management Industrial sector Economy Businesses & Sustainability Local Govt.
Residents
and maintenance of the facility.
1. FTE = Full-Time Equivalent,
2. GVA = Gross Value Added
Source: Zerra DC; REMPLAN; Urbis
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Need For
Data
1
Centres
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1.1 Development Context
Stages1-6 of the proposed Data Centre by Zerra at Proposed Staging & Site Plan
300-340 Barry Road, Campbellfield will deliver the
major component of a critical digital infrastructure
hub in Melbourne’s northern industrial corridor.
The project will deliver:
• Around 211,460 sq.m of total Gross Floor Area (GFA)
on a 22.1 ha site
• A total of 336MW data centre capacity across 6
stages of development
• 5MW Battery Energy Storage System (BESS)
• 66kV substation delivered by Jemena
• Future substation area for Stages 2-6, kV capacity
to be confirmed
• Associated car parking, landscaping and signage
Other key features include:
• High-efficiency air-cooled systems to minimise
water use
• Optimised building design for low Power Usage
Effectiveness (PUE)
• Grid-supportive energy storage to reduce peak Source: Greenbox Architecture Pty Ltd, Zerra DC.
demand
• Compliance with advanced security and
operational standards
Construction is anticipated to commence in 2026
and be completed by 2038 at a total development
cost of $1.11 billion (excl. GST, limited to data shells
only).
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1.2 Key Trends & Demand Drivers
Across Australia, data centres are a dynamic industry, evolving rapidly to meet the demands of a growing knowledge-based and digital
economy. The key trends and demand drivers shaping this sector include:
Need for higher capacity data centres
Rising demand from digitisation, automation, big data and AI is driving a move from smaller facilities to hyperscale data centres, often
exceeding 50MW. These centres provide the scale needed to process and store vast volumes of information, supporting complex
computing requirements for both the public and businesses, and placing greater demands on energy supply and infrastructure.
Public sector as a key user of data centres
Public institutions, such as governments, health and education sectors rely heavily on data centres to securely manage and store their
data. Co-location centres, allowing companies to rent space within a centre, are particularly beneficial for the public sector as they
provide the robust infrastructure needed for secure, reliable data handling. By housing their servers in these third-party facilities, public
institutions can achieve cost savings, scalability, and enhanced security, ensuring that sensitive information is protected and accessible.
Rising private sector investment
As industries, from Big Tech, major financial institutions to smaller companies, invest in AI technology, the demand for high-power
processing grows. The data centre sector is expanding rapidly, with projected global growth of over 18% per year for the next five years.
Melbourne’s data centre capacity lagging behind other major cities
Melbourne currently has 55 operational data centres, with an output of around 340MW, compared to Sydney’s total capacity of about 760MW
across 97 data centres. This shows Melbourne’s capacity less than half of Sydney's, despite their comparable populations. Addressing this
gap is crucial for supporting Melbourne's future economic growth and technological development.
Benefits of proximity to data centres
Businesses in Melbourne’s northern industrial corridor would benefit from faster data transmission, improved performance, and reliable capacity
from the new data centre at 300-340 Barry Road, Campbellfield. This will support the area’s growing logistics, manufacturing, and
technology industries with high computing demands.
Source: Knight Frank, CBRE, Data Centre Map, Mandala Report, Urbis.
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1.3 Need for Continued Investments in Data Centres
Melbourne is trailing well behind major global Comparison of current data centre provision (2025, MW per 1M residents)
cities in data centre capacity. For context, relevant
166
metrics for Sydney and Singapore have been
presented, given their similar economic scale.
136
As shown in the adjacent chart,
• Currently, Greater Melbourne has a total
operational data centre capacity of around 340
MW, equivalent to around 63MW of capacity per
63
1 million residents on average.
• This compares with 136MW per 1 million
residents in Sydney and 166MW in Singapore.
As an indication, to achieve Sydney's current
provision level on a MW per 1 million population
basis within the next five years, and based on Melbourne Sydney Singapore
State official population projects, would need to Source: Knight Frank, CBRE, ABS, Urbis
more than double its capacity from around
340MW to 760MW. Capacity uplift needed to reach Sydney’s current average provision level by 2030
While there is no universal benchmark for data
centre capacity provision in this fast-changing
market, the provision gap in is clear.
As such, there is a need for continued investments ~760
in strengthening ’s digital infrastructure
~340 +420 MW MW
capability to ensure it remains competitive as one
of Australia’s most important economic hubs on MW
the global stage.
2025 2030
Source: Victoria in Future 2023; Urbis.
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1.4 Location Well-Suited to Supporting Digital Infrastructure
The proposed Zerra Campbellfield data centre is Proposed Site Render
strategically located to serve Melbourne’s
growing northern region and the wider
metropolitan economy.
By 2051, Melbourne’s northern region is expected to
see major growth in population and jobs,
particularly in advanced manufacturing, logistics,
and technology. This will require strong physical
and digital infrastructure to drive innovation and
competitiveness.
The Campbellfield site offers direct access to:
• Major transport routes
• Key industrial precincts
• Melbourne Airport and associated freight and
logistics networks
• The Northern State Significant Industrial
Precinct
• Leading manufacturing and technology
capabilities
• The broader business and residential base
across Melbourne’s north and CBD
With its location and capacity, the data centre will
be a vital asset for the region’s digital
Source: Architectus, Zerra DC , Urbis.
infrastructure, supporting business and population
growth across Victoria.
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Employment &
Economic
2
Benefits
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2.1 Construction Phase Benefits
The proposed development, limited to the delivery Annual Average Full-Time Equivalent Jobs Created
of the concrete data shells, is estimated to have a
total construction cost of approximately $1.11
billion (excl. GST) for all 6 stages over an
168 239 407
anticipated 12-year program.
The construction phase alone is expected to
Direct FTE* Indirect FTE* Total FTE* Jobs
generate around 168 direct full-time equivalent
Jobs Jobs
(FTE) jobs per annum, with a further 239 indirect FTE
jobs per annum supported in other industries
Total Direct Jobs Per Annum Total Indirect Jobs Per Annum Total Jobs Per Annum
through supply-chain activities. During Construction During Construction During Construction
These jobs are projected to contribute
approximately $27 million in direct Gross Value
Added (GVA) per annum to the Victorian economy
during the construction period, with an additional
$39 million in indirect GVA per annum generated
through supply-chain linkages (in constant 2025
Gross Value Added to the State Economy
dollars, including GST).
Over the 12-year construction period, the
cumulative GVA generated could reach
$27M $39M $66M
approximately $789 million (including GST).
Direct GVA* Indirect GVA* Total GVA*
Avg. Annual Direct GVA to Avg. Annual Indirect GVA to the Avg. Annual Total GVA to the
the State Economy During State Economy During State Economy During
Construction Construction Construction
* FTE = Full-Time Equivalent, GVA = Gross Value Added, Indirect benefits refer to Supply Chain but not Consumption Effects.
Refer to the appendices for more information.
Source: Zerra DC; REMPLAN; Urbis 12
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2.2 Ongoing Employment & Economic Benefits
The proposed development is expected to support Total Ongoing Jobs Supported by On-Site Operations
around 255 direct full-time equivalent (FTE) jobs
on-site on an ongoing basis. This includes both
jobs for the operation and maintenance of the
255 415 670
facility.
In addition, these direct jobs are estimated to
Direct FTE* Indirect FTE* Total FTE*
generate a further 415 indirect FTE jobs annually
Jobs Jobs Jobs
through flow-on economic effects.
Given the project’s location and the City of Hume’s Total Direct Jobs On-Site Per Total Indirect FTE Jobs Per Year Total Jobs on an Ongoing
Year at Capacity at Capacity Basis Per Year at Capacity
large and diverse employment base, many of
these roles are likely to be filled by local residents
in Hume and surrounding areas.
The ongoing operation and management of the
development is projected to contribute
approximately $158 million per year in gross value
added (GVA) to the Victorian economy. This Gross Value Added to the State Economy
comprises $78 million in direct GVA and $80 million
in indirect GVA (in constant 2025 dollars, including
GST).
$78M $80M $158M
Direct GVA* Indirect GVA* Total GVA*
Avg. Annual Direct GVA to Avg. Annual Indirect GVA to the Avg. Annual Total GVA to the
the State Economy During State Economy During Ongoing State Economy During
Ongoing Operations Operations Ongoing Operations
* FTE = Full-Time Equivalent, GVA = Gross Value Added, Indirect benefits refer to Supply Chain effects but not Consumption Effects.
Refer to the appendices for more information.
Source: Zerra DC; REMPLAN; Urbis
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2.3 Sustainability Benefits
Achieving best-practice sustainability is a core Key Sustainability Features
goal for Project Dune, with the facility designed to
meet the Leadership in Energy and Environmental
Design (LEED) Building Design and Construction
Air-cooled chillers
v4.1 Data Centres Silver certification. to reduce water
demand
LEED is a globally recognised rating system
assessing buildings on energy use, water
conservation, materials selection and indoor
environmental quality.
Renewable energy
A Silver rating reflects strong performance across
procurement
these areas, delivering measurable outcomes
beyond minimum compliance.
For Project Dune, initiatives include air-cooled
chillers to reduce water demand, renewable
energy procurement, low-embodied carbon
Low-embodied
materials, and enhanced acoustic and thermal
carbon materials
comfort.
Embedding these measures into design and
construction will reduce environmental impacts,
improve operational efficiency, and align with
Enhanced acoustic
local and state planning objectives for sustainable
and thermal
development.
comfort
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2.3 Other Off-Site Effects
Supporting high value jobs & economic growth
Data centres support employment across a diverse range of section and create many skilled job opportunities. According to Oxford
Economics research in the US, Europe and Singapore, the value of jobs supported by data centres are around 20%-30% higher than the average
wage. These higher-wage jobs contribute to overall economic growth through increased worker spending and Gross Domestic Product
(GDP) growth.
Data centres are a more efficient solution
Without data centres, businesses relying on their on-premise servers would consume an additional 2 TWh (tera watt-hour) of electricity
annually, equivalent to the consumption of 280,000 Australian households. By outsourcing this service, businesses also save money by not
having to establish their own infrastructure.
Safer & more secure data protection for businesses & residents
The Project Dune data centre will be equipped with strict physical security and government-level standards to protect sensitive data and
operations., this will be critical to supporting local businesses.
Critical support for the Melbourne rapidly-growing northern region
This placement of Project Dune data centre within the Northern Industrial Precinct provides critical digital infrastructure to support businesses,
jobs growth and a strong, diversified economy.
Higher taxation revenue for local government
Data centres typically generate higher and more stable local tax revenue per hectare than many alternative land uses (such as
warehousing or light industrial), due to their high capital value and long-term operation.
Source: Mandala Partners, Oxford Economics; Urbis.
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Section
Appendices
title here
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Methodology & Definitions
The REMPLAN methodology • Economic benefits are modelled for the construction and the on-going
operation phases. For both phases, the employment and value-added
Analysis presented here uses REMPLAN economic modelling to assess figures are presented on an annualised basis. Construction phase
current and potential economic impacts. REMPLAN is an Input-Output benefits accrue each year the project is under construction. On-going
model that captures inter-industry relationships within an economy. It can benefits accrue each year of operation. For projects with a development
assess the area-specific direct and flow-on implications across industry period of less than 12 months, benefits generated during that period are
sectors in terms of employment, wages and salaries, output and value- reported based on the original value of investment rather than on an
added, allowing for analysis of impacts at the State of Victoria level. annualised basis.
Key points regarding the workings or terminology of the model are as • It should be noted that the results presented in this report are estimates
follows: only based on the existing state of economic activity in the area. Due to
• REMPLAN uses either the value of investment or employment generation the static nature of input-output modelling, they have the potential to
overstate the actual effects. Nonetheless, the analysis still reflects the
as the primary input. For this analysis, the value of total upfront
fact that employment growth will be positive for the State and the local
investment has been used as the key input to assess the benefits of the
area.
construction phase.
• Outputs from the model include employment generated through the • Urbis consider that in the absence of the investment package it is
unlikely that similar projects would be undertaken within the same
project and economic Gross Value Added (GVA) at the State level.
period, and therefore the investments can be considered additional.
• Employment generated is calculated on a full-time equivalent (FTE)
basis over the life of the construction phase; or in terms of the on-going
operations, total on-going jobs generated. Definitions
• Gross Value Added or GVA is a measure of the value of goods and Construction cost is the estimated investment value for the development
services produced in an area, industry or sector of an economy during a over the anticipated delivery period, measured in constant 2025 dollars (i.e.
certain period of time. In this case, GVA represents the total economic excluding inflation) including GST.
contribution of the project.
Gross Value Added or GVA is a measure of the value of goods and services
• Both the direct and indirect benefits are modelled for employment and produced in an area, industry or sector of an economy during a certain
value added: period of time. In this case, GVA represents the total economic contribution
– Direct refers to the effect felt within the industry as a result of the of the investment. GVA is measured in constant 2024 dollar (i.e. excluding
inflation) including GST.
investment. For example, the construction phase will directly result
in the creation of construction jobs. Full-Time Equivalent or FTE is defined as a full-time employee who works
– Indirect effects are those felt within industries that supply goods to 35 hours or more in a week, or who are employed in two or more part-time
jobs and in total work more than 35 hours in a week.
the industries directly affected.
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Data Tables
Construction Phase - Annualised Benefits
Impact Summary Direct Effect Indirect Effect Total Effect
Output ($M) $101 $110 $211
Employment (FTE* Jobs) 168 239 407
Gross Value-added ($M) $27 $39 $66
Operation Phase - Annualised Benefits
Impact Summary Direct Effect Indirect Effect Total Effect
Output ($M) $236 $195 $431
Employment (FTE* Jobs) 255 415 670
Gross Value-added ($M) $78 $80 $158
* FTE = Full-Time Equivalent
Source: Zerra DC; REMPLAN; Urbis
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Urbis staff responsible for This report is dated December 2025 (Updated February inquiry.
2026) and incorporates information and events up to
this report were: In preparing this report, Urbis may rely on or refer to
that date only and excludes any information arising, or
documents in a language other than English which Urbis
event occurring, after that date which may affect the
will procure the translation of into English. Urbis is not
validity of Urbis Ltd’s (Urbis) opinion in this report. Urbis
Associate Director Mike Zhang responsible for the accuracy or completeness of such
prepared this report on the instructions, and for the
translations and to the extent that the inaccurate or
Consultant Sophie McMillan benefit only, of Zerra DC (Instructing Party) for the
incomplete translation of any document results in any
purpose of an Economic Benefits Assessment (Purpose)
statement or opinion made in this report being
and not for any other purpose or use. Urbis expressly
inaccurate or incomplete, Urbis expressly disclaims any
disclaims any liability to the Instructing Party who relies
liability for that inaccuracy or incompleteness.
Project code P0061874 or purports to rely on this report for any purpose other
than the Purpose and to any party other than the This report has been prepared with due care and
Instructing Party who relies or purports to rely on this diligence by Urbis and the statements and opinions
report for any purpose whatsoever (including the given by Urbis in this report are given in good faith and in
Purpose). the belief on reasonable grounds that such statements
and opinions are correct and not misleading bearing in
In preparing this report, Urbis was required to make
mind the necessary limitations noted in the previous
judgements which may be affected by unforeseen future
paragraphs. Further, no responsibility is accepted by
events including wars, civil unrest, economic disruption,
Urbis or any of its officers or employees for any errors,
financial market disruption, business cycles, industrial
including errors in data which is either supplied by the
disputes, labour difficulties, political action and changes
Instructing Party, supplied by a third party to Urbis, or
of government or law, the likelihood and effects of which
which Urbis is required to estimate, or omissions
are not capable of precise assessment.
howsoever arising in the preparation of this report,
All surveys, forecasts, projections and recommendations provided that this will not absolve Urbis from liability
contained in or made in relation to or associated with arising from an opinion expressed recklessly or in bad
this report are made in good faith and on the basis of faith.
information supplied to Urbis at the date of this report.
Achievement of the projections and budgets set out in
this report will depend, among other things, on the
actions of others over which Urbis has no control.
Urbis has made all reasonable inquiries that it believes is
necessary in preparing this report but it cannot be
certain that all information material to the preparation of
this report has been provided to it as there may be
information that is not publicly available at the time of its
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All Rights Reserved. No material may be reproduced
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