The NSW Government has announced a new $3 billion acceleration fund
to go towards job-creating projects, increasing the government’s
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 jobs back into the NSW workforce.
government will no longer proceed with the refurbishment of Stadium
Australia, redirecting around $800 million towards the new fund for
job-creating infrastructure projects.
NSW Premier Gladys
Berejiklian said infrastructure would provide a path to employment, and
economic recovery, firing up the economy.
pipeline of $100 billion will be our best chance supporting the hundreds
of thousands of people who have already lost their jobs in NSW,”
“We 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.
government said the Stadium Australia rebuild was a sensible project
backed by the people of NSW at last year’s election, but in the current
health and economic climate it no longer makes sense.
The promised Parramatta Powerhouse museum will still be delivered through the infrastructure pipeline.
project alone will create more than 1100 construction jobs in Western
Sydney, 2400 indirect jobs, and keep hundreds employed once it opens.
The government is also looking at options to support the arts community
Deputy 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.
“The 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 is
creating jobs,” Barilaro said.
“An 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.”