Strong local industry, big global outlook

The NSW Government will encourage domestic and international business into NSW through payroll tax relief and other support as part of a new $250 million Jobs Plus Program.  The Jobs Plus Program aims to create or support 25,000 jobs to 30 June 2022 and will support companies who want to relocate their head offices to NSW or expand their jobs footprint in NSW. It includes payroll tax relief, up to a four-year period, for every new job created where a business has created at least 30 new net jobs.

The NSW Government will continue to build NSW’s presence on the global stage. This Budget will include a major $179.8 million commitment to grow the Trade and Investment network offshore to support NSW businesses in key international markets as well as attracting investment from around the world to support business growth and jobs.

As part of the Global NSW Strategy, the NSW Government will create six key hubs globally and appoint an Agent General in the UK and five NSW Senior Trade and Investment Commissioners in Tokyo, New York, Mumbai, Singapore and Shanghai.

This will enable the NSW Government to better connect the State’s talent, ideas, products and services to rapidly growing markets and build partnerships with established markets to bring new investment to NSW.

This Budget will support the growth of the State’s advanced manufacturing sector — supporting a new industry strategy that will create more jobs across a range of industries, including premium food and beverage production, medical devices, defence and space. It will also help to drive the development of emerging industries from cyber security, to MedTech, and other digital technologies.

The NSW Government will continue to invest in strengthening and growing the industrial foundations of the State and create new pathways to take NSW to the world.

The Budget will also invest:

• $100 million in grants to the Regional Jobs Growth Fund to incentivise businesses in regional NSW to invest, expand their operations, get new customers through the door and create new jobs.
   
• $300 million over two years to the Regional Growth Fund to deliver an extra new round of economic development and job creation programs such as Stronger Country Communities program.

This Budget will bring relief to sectors hit hardest by COVID-19 — tourism, hospitality and the arts. This includes $175 million in additional funding for investment in new film and TV projects.