The NSW Government has announced a new $3 billion acceleration fund to go towards job-creating projects, increasing the Government\u2019s infrastructure pipeline to a guaranteed $100 billion.
\nThe new $3 billion Infrastructure and Job Acceleration Fund will be used for smaller, shovel-ready projects touching every corner of the state, injecting up to an extra 20 thousand jobs back into the NSW workforce.
\nThe Government will no longer proceed with the refurbishment of Stadium Australia, redirecting around $800 million towards the new fund for job-creating infrastructure projects.
\nPremier Gladys Berejiklian said infrastructure would provide a path to employment, and economic recovery, firing up the economy.
\n\u201cThis guaranteed pipeline of $100 billion will be our best chance supporting the hundreds of thousands of people who have already lost their jobs in NSW,\u201d Ms Berejiklian said.
\n\u201cWe are now not only guaranteeing our infrastructure pipeline, we will be looking for opportunities to fast-track projects to provide jobs as early as we can.
\nThe Government said the Stadium Australia rebuild was a sensible project backed by the people of NSW at last year\u2019s election, but in the current health and economic climate it no longer makes sense.
\nThe promised Parramatta Powerhouse museum will still be delivered through the infrastructure pipeline.
\nThis project alone will create more than 1,100 construction jobs in Western Sydney, 2,400 indirect jobs, and keep hundreds employed once it opens. The Government is also looking at options to support the Arts community at Ultimo.
\nDeputy Premier John Barilaro said the fast-tracking of projects would support jobs across the entire State and the Government was in the process of identifying them.
\n\u201cThe communities of NSW have been through an incredibly tough period with continued drought, horrific bushfires and now COVID-19 and the best path to recovery\u00a0 is creating jobs,\u201d Mr Barilaro said.
\n\u201cAn unprecedented crisis calls for an unprecedented recovery and redirecting funding from Stadium Australia to job-creating infrastructure builds is the right thing to do for the people of NSW.\u201d
\nTreasurer Dominic Perrottet said the clear advice from the Reserve Bank of Australia was that governments should do everything they can to create jobs and stimulate the \u00a0economy as we emerge from the shadow of COVID-19.
\n\u201cWith around 500,000 people out of work in NSW we are focused on creating as many jobs as possible to shorten the lines outside of Centrelink,\u201d Mr Perrottet said.
\n\u201cNSW was an infrastructure led economy heading in to the pandemic, and now we will help drive the State forward by creating more jobs for the people who have been hit hardest with an infrastructure led recovery coming out.\u201d<\/p>\n","protected":false},"excerpt":{"rendered":"
The NSW Government has announced a new $3 billion acceleration fund to go towards job-creating projects, increasing the Government\u2019s infrastructure pipeline to a guaranteed $100 billion. The new $3 billion Infrastructure and Job Acceleration Fund will be used for smaller, shovel-ready projects touching every corner of the state, injecting up to an extra 20 thousand … Continue reading “$3 BILLION BOOST CREATES $100 BILLION INFRASTRUCTURE AND JOBS PIPELINE”<\/span><\/a><\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[],"class_list":["post-6786","post","type-post","status-publish","format-standard","hentry","category-nswnews"],"_links":{"self":[{"href":"http:\/\/www.16news.com.au\/index.php\/wp-json\/wp\/v2\/posts\/6786","targetHints":{"allow":["GET"]}}],"collection":[{"href":"http:\/\/www.16news.com.au\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"http:\/\/www.16news.com.au\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"http:\/\/www.16news.com.au\/index.php\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"http:\/\/www.16news.com.au\/index.php\/wp-json\/wp\/v2\/comments?post=6786"}],"version-history":[{"count":0,"href":"http:\/\/www.16news.com.au\/index.php\/wp-json\/wp\/v2\/posts\/6786\/revisions"}],"wp:attachment":[{"href":"http:\/\/www.16news.com.au\/index.php\/wp-json\/wp\/v2\/media?parent=6786"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/www.16news.com.au\/index.php\/wp-json\/wp\/v2\/categories?post=6786"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/www.16news.com.au\/index.php\/wp-json\/wp\/v2\/tags?post=6786"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}