NSW to create one million new jobs in 20 years

Small businesses will be given access to more than $50 million in government grants as part of Mike Baird’s plan to add one million jobs to NSW in 20 years.

NSW businesses will be able to access millions of dollars in government grants as part of Premier Mike Baird’s financial push to attract one million jobs to the state by 2036.

The new and innovative financial support programs will be available as part of the $190 million Jobs for NSW fund.

Premier Mike Baird has released the Jobs for the Future report, outlining NSW’s plan to reach its target of creating one million new, rewarding jobs by 2036.

“NSW leads the nation when it comes to job creation, but we know the world is changing and we must keep adapting with it,” Mr Baird said.

“Our small, fastest growing companies create the most new jobs in NSW – supporting these ambitious and innovative firms is essential to grow resilient jobs for the future.”

Premier Baird said that if government carried on “with a business-as-usual approach”, current forecasts suggest up to 600,000 thousand jobs would be created in 20 years.

Mr Baird announced financial support programs from the $190 million Jobs for NSW Fund, based on priorities identified in the report, that will:

  • Help fast-growing, small-to-medium size companies – known as gazelles – to access the funds they need to grow jobs through a $50 million loan guarantee program and a $3.5 million direct loan pilot program;
  • Assist start-up companies to flourish into the gazelles of tomorrow by setting aside $10 million to grow the State’s network of incubators and accelerators, and $3 million in 2016-17 for direct grants to start-ups;
  • Grow regional companies with a dedicated $30 million program; and
  • Attract large and international companies to base their headquarters in NSW through use of a $30 million fund.

The Jobs for the Future report and further information can be found at the Jobs for NSW website.

Recommended For You

About the Author: Akhtar Jamal

Tribune International