NSW creates investment authority to fast-track major projects

The NSW government will establish an Investment Delivery Authority to accelerate approvals for major projects worth more than $1 billion as part of the 2025-26 Budget.

Premier Chris Minns announced on Monday the government would invest $17.7 million to establish the authority, which is modelled on the successful Housing Delivery Authority.

The authority will help cut red tape, coordinate across government, and encourage investment by assisting around 30 large projects per year, bringing forward up to $50 billion of investment annually.

It will provide advice on navigating the planning system while evaluating projects for fast-track assessment and coordinating necessary infrastructure to deliver them.

Minns said major projects from the private sector were getting bogged down in red tape, making it harder to do business in NSW.

“Our state is open for business and this change will encourage more people to bring their best ideas to life in NSW, all backed by our government,” Minns said according to a statement on Monday.

The Investment Delivery Authority will comprise Premier’s Department Secretary Simon Draper, Treasury Secretary Michael Coutts-Trotter, Department of Planning, Housing and Infrastructure Secretary Kiersten Fishburn, and Infrastructure NSW Chief Executive Tom Gellibrand.

Eligible projects must be able to commence development quickly and be aligned with NSW Government priorities. Major projects may include hotels, data centres, renewable energy projects, and commercial developments.

The budget also includes nearly $80 million of new funding to deliver the Innovation Blueprint, which aims to establish NSW as the best place to innovate, connect with investors, and scale a business.

The funding includes $38.5 million to turbocharge Tech Central, Australia’s largest technology and innovation hub, and $20 million for Emerging Technology Commercialisation.

Treasurer Daniel Mookhey (pictured) said the authority would address blockages and speed up processes.

“We are creating a way to address the blockages, speed up the process and ensure NSW is properly open for business,” Mookhey said.

Picture: credit NSW Labor