On 28 April 2020, in a bid by the NSW Government to stimulate and lift the economy out of the COVID-19 pandemic, it announced the first tranche of construction projects to undergo the Planning System Acceleration Program (Program).
The first tranche of projects
The first tranche of projects to undergo the Program consists of 16 major projects and 8 planning proposals. These projects range from large infrastructure works such as the $4 billion Snowy Hydro 2.0 – Main Works down to individual school rebuilds.
A list of the projects can be found here.
Criteria for the Program
The following 3 criteria were applied by the NSW Government in identifying these projects:
- Jobs: Does the project create jobs during construction and ongoing?
- Timing: Can the assessment and determination of the project be completed quickly, and can the project commence (for development applications (DA)) or proceed to DA (for planning proposals) within 6 months?
- Public benefits: Can the project deliver, or be a stimulus for the delivery of, public benefit?
The NSW Government estimates that the first tranche of projects has the potential to provide almost 9,500 jobs, $7.5 billion worth of investment and 4,400 new dwellings to boost NSW’s economy and create new job opportunities.
Whilst the majority of the first tranche of projects consists of government projects, it is expected that more significant private sector projects will be considered in the Program if they meet the above criteria.
Timeline and moving forward
It is anticipated that the decisions on the first tranche of projects will be made within the next four weeks and subsequent tranches of the Program will also be announced.
We will continue to keep you informed.
For further information, contact Brett Vincent – Partner:
T +61 2 9261 5900
M +61 439 463 693