Future Jobs and Investment Authorities
The NSW Government is committed to supporting communities reliant on the coal industry to secure their long-term economic future as the global demand for coal declines over time.
New South Wales has a long history of coal mining and coal-fired power generation, with most of this concentrated in the Hunter, Central West, Illawarra and North West regions. These regions contribute billions of dollars to the NSW economy and tens of thousands of jobs. The local economies of these regions are highly dependent on the coal sector.
The NSW Government has committed to establishing Future Jobs and Investment Authorities. The Future Jobs and Investment Authorities will be made up of local representatives in each coal-reliant region to advise the Government on regional priorities and investment opportunities. The Future Jobs and Investment Authorities will help deliver investment in new industries to support the creation of jobs to deliver the best possible economic outcome for these communities. They will coordinate across all levels of Government to ensure investment and action is timed in the right way to support the best outcomes for coal-reliant communities.
Driving investment to create jobs will be the key performance indicator for the Future Jobs and Investment Authorities, which will be measured by:
- job creation, particularly creation of similar or higher value jobs that provide continued direct and indirect economic benefits
- productive investment in each region through the growth of engine industries and activation of new industries
- coordination across all levels of Government and with local communities to maximise opportunities and deliver effective outcomes.
Action to date
To support the establishment of the Future Jobs and Investment Authorities, the NSW Government has:
- committed $5.2 million to support the establishment of the authorities to these four regions to grow future jobs and industries
- held four stakeholder roundtables in the Hunter (8 August 2023), Central West (10 November 2023), Illawarra (27 March 2024) and the North West (10 April 2024) regions to gain community and industry insights on regional priorities
- developed an Issues Paper on the proposed model and functions of the new Authorities including:
- a proposed structure with clear roles and responsibilities of the Authorities
- how the Authorities will work with local, state and Australian government entities, industry and communities
- the funding model for the Authorities
- what legislation will need to change
- how we will measure success.
View the Future Jobs and Investment Authorities Issues Paper (PDF 15.59MB).
Stakeholder feedback report
The NSW Government has now released an outcomes report, following consultation and feedback from stakeholders. Ninety submissions were received during the consultation process.
The report identifies key themes and issues for consideration in the Future Jobs and Investment Authorities model, including:
- Funding: Prompt access to adequate funding is considered essential for success of the model
- Statutory body and operational separation: The Future Jobs and Investment Authorities should be established in statute and with operational independence
- Local representation: Local collaboration across all levels of government and stakeholders is essential to inform decision-making
- Ministerial engagement: Coal-reliant communities should have the opportunity to directly advise the Minister on their priorities
- Powers to drive investment: The Future Jobs and Investment Authorities should be empowered to drive investment, activate land and support workforce transition
- A central role across Government: The Authorities should be the key point of contact for coal-reliant communities and State and Commonwealth governments.
The information gathered will be used to update the proposed model for the Future Jobs and Investment Authorities and shared with the community in due course.
Royalties for Rejuvenation
The NSW Government sets aside at least $25 million each year from mining royalties to support coal mining communities in New South Wales through the Royalties for Rejuvenation Fund. The funding will ensure that coal mining communities can make targeted investments towards strategic planning, workforce development programs, constructing enabling infrastructure, and establishing new industries and employment opportunities.
As part of the Royalties for Rejuvenation Fund, the NSW Government established Regional Expert Panels to provide regionally specific advice to ensure decision-making is aligned with the needs and demands of the local area.
The Government will consider the role of the Royalties for Rejuvenation Fund and Royalties for Rejuvenation Expert Panels established under the NSW Mining Act 1992 and Mining Regulation 2016 as it develops the final model for the Future Jobs and Investment Authorities.
For more information on the Royalties for Rejuvenation Fund and Expert Panels, visit Royalties for Rejuvenation Fund and Royalties for Rejuvenation Fund resources and news.
News and resources
Visit the News and resources page for Future Jobs and Investment Authorities media releases and documents.
View the Consultation Outcomes report:
View the Issues paper: