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Investment NSW to boost jobs, skills and investments as part of COVID-19 recovery

Image credit: Luke White

Investment NSW to boost economy and jobs as part of COVID-19 recovery

The NSW government has today opened its Investment NSW agency with the aim to maximise economic benefits and job growth across the state.

Premier Gladys Berejiklian said the new agency, which builds on the foundations of the NSW Economic Blueprint and Global NSW, will drive local and global investment and show the world that the state is open for business.

“Investment NSW is a one-stop-shop for the private sector – attracting and growing Australian and global companies, overseas capital, talent, tourists and students,” Ms Berejiklian said.

“From today, Investment NSW is up and running, with a mission to enhance NSW’s global position as a safe place to do business, attracting investment capital and creating jobs for our State.

“It will act as a concierge for businesses and investors to help them navigate the many options available for partnering with the NSW government, whether that’s payroll exemptions, co-funding great ideas, providing connections to global export markets and more.”

Minister for Jobs, Investment and Tourism Stuart Ayres said Investment NSW, as part of the government’s COVID-19 Recovery Plan, will reinforce the state’s position as the economic engine room of Australia.

“The NSW community has shown extraordinary resilience in the face of many challenges – bushfires, drought, flood and the COVID-19 pandemic,” Mr Ayres said.

“Now is the time to be confident and on the front foot in attracting investment, talent and visitors who will drive us to new heights as we look beyond economic recovery to growth.”

In NSW’s recent half-yearly budget review, the government predicted that the state economy will be back to pre-pandemic levels by the 2021-22 financial year due to the success in keeping the economy open and containing the virus.

Investment NSW’s role within the NSW government

Investment NSW will help businesses and investors navigate the options available to them for partnering with NSW government, including:

  • accessing payroll tax exemptions
  • co-funding opportunities
  • accelerated planning approvals
  • long term leases of government-owned land
  • streamlined regulation
  • connections to rapidly growing global markets and assistance with growth and exports
  • translation and commercialisation of research
  • co-investment in skills development and training
  • supporting the development of places and precincts with high levels of connectivity, amenity and liveability as potential locations for business and talent
  • ensuring NSW is a standout destination for cultural tourism, major events and creative industries.

Related: Hospitality, tourism and retail showing promise across regional Australia: CommBank Report

The new agency will bring several government groups into the Premier and Cabinet cluster, including the Jobs, Investment and Tourism group from NSW Treasury, Destination NSW, Study NSW, Research and Development NSW and Global NSW.

Regional NSW, Western Parkland City Authority, Create NSW, Greater Sydney Commission, and Infrastructure NSW are among the key NSW government bodies that will partner with Investment NSW.

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Dahlia Jovic

Dahlia Jovic

Dahlia is a Junior Editor and Journalist at Dynamic Business. She is an Honours student in Media and Communications at the University of Sydney with a specialisation in Digital Cultures. Her areas of interest include business, technology, entertainment and videography.

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