Financial incentives offered to create regional businesses

The state government has rolled out the red carpet for businesses looking to relocate or open in regional towns like Dubbo.

The Investment Attraction Package for Regional NSW includes financial incentives that offset government levies and duties, such as payroll tax, and offers relocation assistance to drive new jobs and investment in regional NSW.

Deputy Premier and Minister for Regional NSW John Barilaro.

Deputy Premier and Minister for Regional NSW John Barilaro.

Deputy Premier and Minister for Regional NSW John Barilaro said the package would transform regional NSW’s attractiveness to interstate and global businesses and make regions across the state more competitive.

“This is a massive boost for businesses and job seekers in regional NSW,” Mr Barilaro said.

“We already have the largest and most diverse regional economy in Australia, but we have recently missed big opportunities because other states have outbid us with more attractive investment incentives.

“That is not good enough for a state that boasts all the natural advantages to be the strongest economy in the nation.

“This package means regional NSW will be making an even stronger case when it comes to attracting global businesses and new businesses from interstate.”

As part of the package $10 million in grants of up to $10,000 per eligible skilled worker will be offered to help meet the cost of moving from the city to the country.

“Businesses have been calling for payroll tax relief, access to skilled workforce and quicker planning approvals,” Mr Barilaro said.  

“We also know that Government is often difficult to navigate which is why we are establishing a professional investment concierge who will hold the hand of potential businesses each step of the way and develop a bespoke support package for each eligible business.”

NSW Business Chamber ​Western NSW Regional Manager Vicki Seccombe said the package answers the calls made by the chamber for incentives that reward investment in regional NSW.

“These measures will go a long way to lifting the gaze of decision makers to look more closely at regions like Western NSW and towns like Dubbo and we need to make sure existing businesses also get a leg up for growing locally,” she said.

“It is critical that governments, communities and business continue to work together to attract investment to regional NSW."

For information about the Investment Attraction Package for Regional NSW and the investment concierge service, go to: www.industry.nsw.gov.au/regional-investment

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