$110m on the table for private enterprise to 'turbocharge' industry in regional NSW

The NSW Government is hoping to entice private industry to invest in the regions with a fresh injection of funding.

Deputy Premier and Minister for Regional NSW Paul Toole visited Wagga’s Special Activation Precinct (SAP) on Thursday, and said the new, five-year Investment Attraction Strategy, was about “turbocharging” regional NSW.

“Over the next five years (the Government) is going to be targeting 15,000 jobs but also a billion dollars in private investment,” he said, explaining that the strategy included $110 million in grants to encourage investors to take advantage of $12 billion already invested in regional infrastructure.

“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.

“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.”

But while 15,000 additional jobs over five years is good news, it comes during a drastic shortage of workers and housing.

Mr Toole said opening the doors to more migrants was one step to address labour shortages as well as creating opportunities for Australians looking to escape the cities.

“I see that there’s going to be more people moving from our metropolitan areas into regional New South Wales, because it’s affordable,” he explained.

“They can live in these communities, they can also know that they’re going to get a highly paid, highly skilled job.”

When it comes to housing, things are more complex but the Deputy Premier is hopeful that additional Commonwealth investment announced in this week’s budget along with moves at the state level to streamline development, will get things moving.

“Houses aren’t going to be built overnight, but this is about putting the pathway forward to allow these houses to be built from the ground up for our communities,” he said.

Wagga Mayor Dallas Tout welcomed the announcement of the Regional Investment Attraction Strategy and said NSW was going through a “once in a generation change” that would see the regions take the lead.

“To have $110 million worth of priority funds there to get people out into regions, to get private investment out into regions, is fantastic because people are finally waking up to the regions are where it’s to be,” he said.

“What’s happening here and what will happen in regional New South Wales in the years to come will benefit our children, their children and their children after them.”

Paul Gianniotis is the managing director at Wagga’s ProWay livestock equipment and said they had benefitted enormously through government investment and the SAP initiative.

With ProWay now expanding into overseas markets, he said it was vital for NSW to remain globally competitive.

“ProWay did our research internationally, did a bit of travel and we’ve seen these economic zones really succeed overseas,” he said.

“They create employment and they create prosperity. I know they work.

“That is the reason why we’ve chosen to expand here in Bomen. We’re increasing our manufacturing capacity by a third and that’s just down the road.”

Grant applications are open, with ‘Stream 1 Expressions of Interest’ closing on 14 November.