A LONG-TERM solution for St Helens' problematic barway and Pelican Point entrance to Georges Bay hinges on federal and state government financial support.
A cost-benefit analysis compiled by Robert Noakes and Burbury Consulting suggests a new retaining wall at Pelican Point, extending the barway breakwater and dredging channels that link Georges Bay to the Tasman Sea.
The report found that without major infrastructure investment, St Helens' deep-sea fishing and aquaculture production, exports and employment would be at serious risk of closure within three years.
The proposal would cost an estimated $22 million over three years.
Should the commercial sector cease, it would cost the region's economy $305 million over 20years.
Barway committee chairman John McGiveron said now was the time to act and called on federal and state politicians to back the project for the good of not just the Break O'Day municipality, but Tasmania.
"We have determined what works and what doesn't work and we have had a far bit of success but that is just maintenance basically," Mr McGiveron said.
"It's a federal infrastructure project and we are trying to arrange meetings with everyone that has got some input, including state Infrastructure Minister David O'Byrne.
"The report shows that doing nothing is not an option - we must act now.
"Pelican Point could close over, which would only see small boats being able to access Georges Bay."
He said neither Labor nor the coalition had committed funding.