NSW Creates Authority to Fast-Track $50B Major Projects

The New South Wales government is establishing an Investment Delivery Authority with a $17.7 million allocation in the 2025-26 Budget to fast-track approvals for major private sector projects valued over $1 billion. Modeled on the Housing Delivery Authority, the new body aims to cut red tape, coordinate across agencies, and expedite infrastructure delivery, potentially accelerating up to $50 billion in investment annually. The authority will be led by senior officials from key departments and will evaluate projects for fast-track assessment aligned with government priorities in sectors such as hotels, data centers, renewable energy, and commercial developments. Alongside this, nearly $80 million in innovation funding is earmarked to support the state's Innovation Blueprint, including $38.5 million for Tech Central, Australia's largest technology hub, and $20 million for emerging technology commercialization, focusing on areas like housing and energy. Additional funding targets programs that promote tech founder diversity, startup support, and housing innovation, reflecting the government's commitment to fostering a business-friendly environment and boosting NSW's position as a global innovation leader. These initiatives respond to business concerns about complex approval processes and aim to drive productivity, investment, and economic growth across the state.