The fund, which is part of the Regional Growth Fund, will ensure regional NSW has the infrastructure it needs to allow local businesses to grow and thrive.
Infrastructure could include road works, natural gas mains and pipelines, water supply, sewerage connections and telecommunications.
The fund is open to projects that:
- have the capacity to deliver jobs and economic growth
- help regional communities capitalise on their strengths or broaden and reposition their industry base
- demonstrate benefits beyond one organisation
- have a minimum project size of $1 million
- align with state and regional priorities and achieve Benefit to Cost Ratio greater than 1.0.
Deputy Premier and Minister for Regional NSW John Barilaro said the fund represents a new approach to funding projects in regional and rural areas.
“This fund will identify the competitive advantages or the potential strong suits of each of the individual regions across NSW, and then invest in those sectors, whether it be in tourism, agriculture or manufacturing,” Mr Barilaro said.
“We will be working with individual towns to help them identify the right projects that will help their local businesses grow.”