The NSW Government has announced the acceleration of 13 more projects, including the first stage of Sydney’s Tech Precinct, in attempt to boost the state’s economy and create jobs.
If approved, the projects could inject $4.3 billion and create 8,400 new jobs and Planning Minister Rob Stokes said the latest round of fast-tracked projects will aid the state’s recovery in the wake of COVID-19.
The fast-tracked assessment program is a key part of the NSW Government’s COVID-19 Recovery Plan as we continue to get shovel-ready projects out the door to keep people in jobs and keep the economy moving.Rob Stokes – NSW Planning Minister
The fourth tranche of projects to be sped up include the $1.1 billion development of Blacktown’s CBD and state wide rail upgrades.
“This latest tranche of projects could enable the next step in Central Sydney’s technology transformation, as well as major revamps for the Kensington to Kingsford light rail corridor, a billion-dollar renewal of Blacktown CBD and a new over-station development at the future Crows Nest Metro Station,” said Mr Stokes.
“Improved freight rail capacity for south Sydney and Port Botany, the Narrabri to North Star section of the Inland Rail, a new educational facility in Campbelltown and a Cricket NSW Centre of Excellence at Sydney Olympic Park also make the list,” he said.
Since the planning acceleration scheme launched on April 28, 67 projects have been fast-tracked, creating nearly 40,000 jobs, 18,000 new homes and boosted the economy by $17.7 billion.
To be considered for planning acceleration, projects must have DA’s in the state’s planning system and must be ready for construction to commence within six months, or ‘shovel ready’, as well as being able to create jobs during and after construction has finished.
The news comes after the NSW Government recently announced plans to revamp its planning process, which aims to slash assessment times for projects.