Tweed set to benefit from amendments to Regional Development Act

THE NSW Government has introduced legislation to Parliament aimed at updating the Regional Development Act 2004.

The amendments seek to support sustainable investments across regional New South Wales.

The amendments are designed to broaden the types of investments that can be made, with a focus on meeting the evolving needs of regional communities and providing benefits to local businesses and organisations.

NSW Minister for Regional New South Wales, Tara Moriarty, stated that the changes are intended to ensure regional investments are more strategic and aligned with community needs.

“Going forward, regional communities will know that the NSW Government is being strategic and considered in how we support our communities to thrive,” Moriarty said.

“Our government has heard directly from the residents of regional NSW and turned their ideas and needs into tangible investment outcomes for communities.

“Consultation feedback demonstrated that the ageing Act’s narrow focus did not align with our communities’ expectations around regional development today.

“Under this new approach, regional investment will be made where it is needed most and in projects that make the biggest difference to our regional communities.”

The government has indicated that future investments will be directed to areas where they are most needed and can have the greatest impact.

The amendments accompany the establishment of the $400 million Regional Development Trust and the reorganisation of the Department of Regional NSW into the Department of Primary Industries and Regional Development.

The trust has already begun funding initiatives, with $35 million allocated to various projects, including low-interest loans for emerging food and beverage businesses.