The 2022-23 NSW Budget includes several investments that aim to ‘support engine industries and unlock new opportunities’.
- $703.4 million in science and technology through the Future Economy Fund;
- $1.3 billion in the Regional Growth Fund, building on its success to date in delivering more than 2,700 transformational projects in regional NSW;
- $835.6 million to continue the delivery of a new and modern regional rail fleet, including $500 million to advance faster rail and more reliable connections between Sydney, the Central Coast and Newcastle;
- $163.9 million to bolster biosecurity measures;
- $145 million to establish the Regional Investment Activation Program to facilitate new private sector investment to activate the potential of priority precincts and industries;
- $300 million for new business activities to competitively produce low emission materials, green chemicals, hydrogen, power fuels, clean fuels and agricultural materials;
$1.2 billion – the state’s biggest-ever investment into renewable energy infrastructure, to fast-track critical transmission projects and deliver cheaper, more reliable power, including Australia’s first renewable energy zones, set to be delivered to NSW’s Central West and New England regions by 2030, then in the state’s south-west, Hunter Central Coast and Illawarra regions; and
- $1.0 billion to enable more local jobs and drive economic outcomes.
Program guidelines will be developed and released over coming months.
$1.6 billion boost for next-gen jobs and opportunities in the regions I Liberal Party of Australia, NSW Division media release, 21 June 2022
Department of Regional NSW eNews, 24 June 2022