$4.2 billion Snowy Hydro legacy fund powering regional NSW
Media release | 25 October 2018
Deputy Premier and Minister for Regional NSW John Barilaro today announced five priority areas the NSW Government will fund under the $4.2 billion Snowy Hydro Legacy Fund.
The NSW Liberal and Nationals Government has committed every cent of the proceeds under the Snowy Hydro Legacy Fund to be spent in regional NSW, backing transformational projects to build on the rapid growth and opportunities in the regions.
Mr Barilaro said water security, rail and road passenger connectivity, freight linkages, digital connectivity and special activation precincts are the key priorities for investment.
“The NSW Liberal and Nationals Government is delivering a once-in-a-lifetime fund to build the infrastructure that will carry our state into the future and fulfill the bold legacy left by the Snowy Hydro Scheme,” Mr Barilaro said.
“These are big picture projects that generations before us have dreamed of and generations that follow us will benefit from.
“Dams and pipelines are a key priority and work is already underway on water security projects to enable NSW to better manage our most precious resource and the Minister for Regional Water Niall Blair is already developing regional water strategies across priority valleys to determine the best solution for each catchment area.
“Creating special activation precincts to attract and grow businesses in regional NSW will underpin economic growth in regional NSW. Work is underway to build an inland port at Parkes as a special activation precinct to leverage the investment in the inland rail.
“On top of this, we are investigating an international air freight hub which would allow producers to deliver meat, dairy, fruit, nuts and seafood around Australia and the world, as quickly as possible, which means significant competitive advantages for regional NSW exporters. This will open up opportunities for regional NSW to access higher value markets, which are critical during the current drought.
“Our Government will have more to say about these projects and other investment priorities in the coming months, all of which will be guided by the NSW Government’s 20-year Economic Vision for Regional NSW, announced earlier this year in Bathurst with the NSW Premier, Gladys Berejiklian.
The five priority areas:
- Water security in priority catchments: Drought conditions across NSW highlight the importance of investing in water infrastructure at a regional and catchment level to increase community and industry resilience.
- Investing in digital connectivity: The NSW Liberal and Nationals Government will aim to make NSW mobile black spot free.
- Improve passenger road and rail: Making regional travel faster, safer and easier between regional and metropolitan centres.
- Freight linkages: Improving regional freight networks to global gateways to increase exports, including the investigation of international air freight.
- Establish special activation business precincts: For investors this means access to unencumbered employment lands, streamlined planning approvals, investment in enabling infrastructure, and targeted financial incentives.
“Most importantly, the Snowy Hydro Legacy Fund epitomises our message to the communities of regional NSW - ‘this is your time’. This fund will ensure regional NSW continues to receive the investment it needs to ensure our regions are a great place to live, raise a family, study, start a business or visit.
“This fund is also for our young people - building the business foundations that will provide a secure future for those who will be working and living in our regional towns for generations to come,” Mr Barilaro said.
The NSW Government’s $4.2 billion Snowy Hydro Legacy Fund investment in regional NSW infrastructure builds on the $1.6 billion Regional Growth Fund, which is already providing lifestyle, livability, business, investment and economic improvements.