National and international players have already secured 75 per cent of the lots in stage one of the project on Goddard Lane, as Tamworth experiences its strongest commercial and industrial buyer confidence in history.

The 246 hectare development near Westdale will cement the city as the manufacturing and logistics hub for the New England North West, Tamworth mayor Col Murray said.

"It has already seen extraordinary investment from the private sector in the uptake of land," he said.

"We've never seen industrial land sales around our city like we have in the last 12 to 18 months."

Acting Prime Minister and New England MP Barnaby Joyce said the precinct will drive future growth, pushed by water security.

He attributed strong investor interest to the new half-a-billion dollar Dungowan Dam build.

"It is immensely important that we continue on with the construction of Dungowan Dam because this estate rests on water security, which is of the upmost importance for bringing businesses in," he said.

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"This all rests on not just one item - an industrial park is just an industrial park unless it has commerce behind it."

Stage one of the development, worth $36.6 million, is progressing fast with stormwater drainage nearly complete and upgrades to Goddard Lane now 70 per cent done.

The Country Road Roundabout and Intermodal Access Road projects have each passed the halfway mark of construction, with concrete being poured for the roundabout this week.

The second stage of the project will commence next year with a roads network and landscaping expected to bring the estate to life.

Tamworth MP Kevin Anderson said work on the new Intermodal Freight Facility will begin within months, which will make the precinct a "regional economic blueprint for the rest of NSW".

"We haven't had a freight rail in Tamworth for many years, so to be able to have that right here is something very exciting," he said.

"I know there are many companies already eyeing off Tamworth as a destination to bring their businesses on the back of this freight rail.

"In addition to that we're upgrading our road networks, so we'll have B-doubles and road trains coming through to our abattoirs and our meat processing plants.

"And, we've got our airport on standby when we do get out of our current COVID situation and flights resume - looking at opening that up as an international freight airport."

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