NSW Premier Gladys Berejiklian has announced a $500 million fund aimed at “investments in business-boosting infrastructure across regional NSW” at Murray Cod Australia in Bilbul on Thursday.
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Deputy Premier John Barilaro, who is in Griffith with the Premier for a community cabinet meeting, says the $500 million Growing Local Economies Fund will not be divvied-up by the usual round-by-round basis (“It becomes a bit of a beauty contest in a way”) but allocated to reflect a combination of population and potential growth.
The NSW Nationals leader says this new model will ensure an even playing field across the state’s 34 economic zones, instead of the cash pooling around the usual big country centres.
Mr Barilaro says the cash is not just for large towns.
“We are viewing each of these local economies as unique places which present different opportunities for investment. And we’ve put a minimum threshold in so the money is actually worthwhile.”
On Friday, Member for Albury Greg Aplin will join Mr Barilaro and with representatives from key NSW Government agencies at a workshop to outline the fund’s benefit to regional communities and explain the application process.
“The NSW Government has invited local businesses, community and Indigenous groups, local councils, charities and sporting clubs to this workshop to find out how the Fund can help local communities,” Mr Aplin said.
Mr Barilaro said the Growing Local Economies Fund has its sights set on regional road, rail, electricity and water upgrades, but will also consider infrastructure to unlock the potential of regional businesses, and jobs.
Mr Barilaro said government had also set “another couple of hundred million” aside to come in over the top and do more.
“We want to start the process with this fund first and see where we end up.”
Mr Barilaro said the idea was for local industry and organisations to work alongside Regional Development Associations, regional council groups, and local MPs to get identify where their allocated cash will go, and how to leverage it with further grants and potential federal funding.
“We will be working with individual towns to help them identify the right projects.”
