News & Insights

NSW STATE GOVERNMENT RELEASES ITS 20-YEAR VISION FOR REGIONAL NSW

3 August 2018 – Off the back of the near-record levels of investment in infrastructure in NSW, the state government has this week released its 20-year vision for a thriving regional NSW which sets out a framework for investment that will guide the allocation of resources from the new $4.2 billion Snowy Hydro Legacy Fund.

Speaking from the launch event in Parkes which coincided with the announcement of the first allocation of money from the fund to be spent on the scoping studies and planning works for the Parkes National Logistics Hub, Premier Gladys Berejiklian and Deputy Premier and Minister for Regional NSW John Barilaro said the focus of the initiative would be connectivity and water security. “This is a comprehensive vision for the future of regional NSW for the next 20 years and beyond that focuses on job creation and promoting regional development,” Ms Berejiklian said.

Mr Barilaro said the vision brings together the NSW Government’s long-term planning strategies, including the Future Transport Strategy 2056, the NSW State Infrastructure Strategy and the regional plans.

Commenting on the announcement of the new fund, Richard Lewis, Director at Iron Capital Group, said “It’s always encouraging to see government investment in infrastructure, particularly in regional areas where reliable and efficient freight adds considerable value to both the local communities and the broader economy. Projects like the Inland Rail place greater emphasis on ensuring the surrounding regions and their industries are well equipped to capitalise.”

The Government envisages an additional 260,000 new jobs will be created between now and 2038, and hopes to draw more than 185,000 new residents to the regions as a result of the targeted investments.

A full copy of the plan can be accessed here.