The NSW Government will turbocharge economic activity in the regions, with a new strategy targeting attraction of $1 billion in private sector investment and the creation of 15,000 high-value jobs over the next five years.
Deputy Premier and Minister for Regional NSW Paul Toole, who was at the Wagga Wagga Special Activation Precinct today, said there has never been a better time to invest in regional NSW.
“We’ve laid the foundations with more than $12 billion of investment in the infrastructure our regions needed to grow – and now we’re ready to hit turbocharge,” Mr Toole said.
“Our Regional Investment Attraction Strategy is aimed at harnessing the full value of the regions’ potential and making them the location of choice for private sector investment.
“The regions are already home to big businesses from around the world and small businesses that are world leading. We want to continue building on that with initiatives like our Special Activation Precincts and Renewable Energy Zones which are encouraging more businesses to look to the bush to create jobs for the future.”
Mr Toole said the five-year strategy is underpinned by the $145 million Regional Investment Activation Program that includes $110 million in grant funding, currently open, to support businesses and investors looking to expand or set up in regional NSW.
“The sky’s the limit – and we want to co-invest with businesses from across Australia and around the world to set up and deliver game-changing projects in regional NSW,” Mr Toole said.
“This will support new and emerging industries where regional NSW has a competitive edge and put our communities in the box seat for the future.”
The Regional Investment Attraction Strategy 2022-2027 and grant program will prioritise investment to accelerate growth in priority precincts and engine industries such as manufacturing, clean energy, circular economy, defence and agri-food.
Grant applications are now open at www.nsw.gov.au/RIAF. Stream 1 Expressions of Interest close 14 November 2022.
For a copy of the Regional NSW Investment Attraction Strategy 2022-2027, visit www.nsw.gov.au/investregionalnsw.