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Industry News, Latest News, New South Wales

Sydney’s west receives $139M for new infrastructure

Billions of dollars in capital for major infrastructure projects could be unlocked through tax incentives for projects worth more than $500 million, as part of a draft plan released by the Federal Government.

Up to $139 million is up for grabs for eight Western Sydney councils as applications open for round two of the Accelerated Infrastructure Funding (AIF).

Planning and Public Spaces Minister Rob Stokes said round two includes high-growth greenfield precincts in Blacktown, The Hills, Hawkesbury, Penrith, Liverpool, Camden, Campbelltown and Wollondilly local government areas (LGAs).

“We launched this funding to support our economic recovery from the COVID-19 pandemic and in the first round more than $145 million was invested to deliver 14 projects,” Stokes said.

“All of these projects are now underway and will support the development of up to 40,000 new homes, 115 hectares of employment land and create up to 1000 new construction jobs.

“Delivering important infrastructure such as roads, stormwater drains and public space is key to our economic recovery and the second round of the AIF brings the NSW Government’s support to more than $210 million.”

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Jobs, Investment, Tourism and Western Sydney Minister Stuart Ayres said the AIF would also create thousands of jobs in the construction phase, helping to meet the future needs of Western Sydney.

“Western Sydney is ripe for growth and this funding will provide the necessary infrastructure to support an expected 20,000 plus new greenfield homes across these LGAs over the next five years,” Ayres said.

“This is a great example of state and local government working together to accelerate projects that stimulate the economy and create jobs as we start to emerge from the pandemic.”

Councils will be allocated funding according to anticipated growth in each LGA, the amount of development the funding will support and the amount of co-funding that councils can provide. All projects must commence construction within two years to qualify for funding.

Project nominations are now open and councils will need to apply by 31 October 2021 to be considered.

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