Why Regional NSWNow, more than ever, Regional NSW is the starting point for businesses,

people and ideas that go further.

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Go further in Australia's most dynamic regional economy.

As our country’s most diverse regional economy, Regional NSW offers investment, business and lifestyle opportunitiesAustralia’s other states can’t match.

Businesses based here can tap into the dynamism and creativity of Sydney, Australia’s only truly global city and our majorgateway to domestic and international markets. At the same time, they have access to all the lifestyle and cost advantages thatonly a regional area can bring.

After all, Regional NSW is rich in resources, has a skilled workforce and is home to so many of Australia’s most successfulbusinesses. It is also home to 40% of NSW’s population and contributes 8.3% of Australia’s entire GDP.

Key sectors with current opportunities include:

Regional NSW: A land of opportunity

Advanced manufacturing⟩Agribusiness and food⟩Construction and infrastructure⟩

Key facts about Regional NSW

Regional NSW economy

8.3%contributed to Australia's GDP in 2017-18

Employment growth

6.0%March 2017 - March 2019

Manufactured goods

26%of gross value added in manufacturing is produced regionally, with food and defence as key contributors

Workforce

34.3%of the workforce employed in services, the highest of all Australian states

Defence⟩Education⟩Forestry⟩Freight, logistics and distribution⟩Health and aged care⟩Mining and resources⟩Professional and financial services⟩Renewable energy⟩Tourism⟩

Image credit: Advantage Wollongong

Regional NSW is an established choice for investors. Now our 20-YearEconomic Vision makes the case for investing here stronger still.

When you establish your business here, you’ll receive unparalleled help and support. This includes direct access to aninvestment concierge. The NSW Investment Concierge can help you obtain government assistance and act as your first port ofcall for advice on opportunities and potential sites for your business.

Generous financial incentives

We can help eligible businesses attract the best talent by offering relocation assistance for qualified workers, includingrelocation grants of up to $10,000 for each worker. Some businesses may also qualify for direct grants.

This includes businesses located in Special Activation Precincts, such as Parkes in the NSW Central West and Wagga Wagga inthe NSW Riverina Murray regions. These precincts provide a coordinated approach to land-use and infrastructure planning andmake an ideal place for businesses to both start out and expand.

A bright future

Invest in Regional NSW

The NSW Government has a long-term plan to keep our state’s economy strong and make sure our state remains the best placein Australia in which to live and do business. As part of this approach we’re investing heavily in Regional NSW right now.

Your opportunity to be part of our exciting future awaits.

Connected to Sydney, Australia’s global gateway

Regional NSW is home to three million people, 40% of the total NSW population. It is the most diverse regional economy inAustralia, generating a third of all economic activity in our state.

Regional NSW is closely connected to Sydney, Australia’s only truly global city and gateway to the world. Sydney is recognised ashaving particular strengths in key sectors including professional and financial services, ICT, education, construction,manufacturing, arts and culture.

With Australia’s largest international airport, a major seaport and rail and road connections, Sydney is also a major gateway forour export markets. For instance, in 2018 alone, NSW’s primary industry exports earned A$5.4 billion, making it a significantcontributor to the Australian economy.

Stable government, secure business

The economy of Regional NSW benefits from a stable state government, a transparent legal system, and business-friendlyregulation and policies.

Australia is the 13th largest economy in the world and is now in its 28th consecutive year of annual economic growth. It isranked fifth in the Index of Economic Freedom and 13th of 180 countries in Transparency International’s Corruption PerceptionsIndex 2017.

Australia is also ranked seventh for ease of opening a new business and 14th for overall ease of doing business, according to theWorld Bank. Our country boasts one of the world’s most stable systems of government, which is underpinned by strongproperty rights and a robust and resilient financial system.

Discover some of the leading international companies that have chosen to invest in Regional

NSW

Regional NSW is a diverse economic powerhouse and one of the key factorsin both NSW and Australia's ongoing economic success.

Traditionally, our key sectors include agribusiness and food, advanced manufacturing, mining and resources, defence, andprofessional and financial services. We have a long and prosperous tradition in each of these industries. However, we work hardto continually increase productivity and add value through innovation and embracing technological change.

Regional NSW’s major merchandise exports include coal, copper, beef and aluminium. It has a diverse export-base ofmanufactured goods, agricultural commodities, high quality food and beverages, and minerals.

In today’s dynamic economy there are also real opportunities in renewable energy, circular economy, tourism, health and agedcare, and education. This is leading to substantial demand and high growth in supporting sectors such as freight, logistics anddistribution, construction and forestry.

Regional NSW has successfully grown and diversified its services sector too. In fact, services account for 34.3% of regionalemployment and each region sustains its own local service economy.

Many of our service-based industries also help promote increased productivity in our mining, agribusiness, health and agedcare, manufacturing, and professional and scientific sectors.

Diverse, established regional industries

Image credit: Department of Planning, Industry and Environment

Regional NSW is home to world-class research and innovation centres, manyof which specialise in agricultural technology, defence and advancedmanufacturing.

Regional NSW is also home to many world-class universities including the University of Newcastle and the University ofWollongong, which both rank in the 2019 Times Higher Education Index’s top 350 global universities.

Our first-class tertiary institutions provide the opportunity for research and development partnerships. They also combine withour leading technical education facilities to ensure a ready supply of highly skilled and innovative graduates.

Meanwhile, the National Broadband Network is being rolled out across regions, ensuring businesses stay connected with fastinternet speeds. Australia-wide, 5.4 million homes and businesses were connected by May 2019.

This is complemented by the A$400 million Regional Digital Connectivity program, which is focused on bringing faster, morereliable and widespread digital coverage to Regional NSW. The program will reduce mobile black spots and future-proofregional mobile and internet coverage to make sure our regions can compete with metropolitan centres when it comes toconnectivity.

The power of innovation

Regional NSW is connected physically as well as digitally. This includes linksto Sydney and Australia’s markets as well as to the extensive growingmarkets in the Asia-Pacific and beyond.

In fact, 12 of Australia's 15 largest markets are now in Asia, with a total combined trade value of more than A$500 billion.

The NSW Government recently committed to investing a record A$93 billion in infrastructure projects – the most of anyAustralian state or territory. This will help increase efficiency even further, bringing down export costs and making sure oureconomy becomes even more intertwined with the world’s most dynamic economic region. This connectedness makes RegionalNSW the perfect strategic location for international companies looking for an investment and trading base in the Asia-Pacificregion. We are also well connected to major economies in Europe and North America, ensuring the smooth flow of goods,services and investments.

Businesses based in Regional NSW can access several international sea ports, including:

Businesses also have access to road and rail links to domestic and international markets, serviced by sophisticated logistics,distribution and transport companies.

Parkes, in the NSW Central West, is NSW’s first special activation precinct. The NSW Government is establishing an inland portin the town to take advantage of its strategic location on the A$9.3 billion Brisbane to Melbourne Inland Rail, and to tap into theextensive agribusiness, mining and other economic opportunities nearby.

Wagga is the second official special activation precinct, located in the NSW Riverina-Murray region. It will also capitalise on theInland Rail and create opportunities for growth and new investment in advanced manufacturing, recycling and agribusiness,and will value-add at every stage of the agribusiness supply chain. Two additional special activation precincts have beenannounced for the Snowy Mountains and Moree areas.

Meanwhile, the investment of A$9.3 billion in Inland Rail will transform the way freight is moved around the country,connecting Regional NSW to domestic and international markets more efficiently.

Businesses are also well served by air. There are 58 public airports in Regional NSW, as well as international air freight andpassenger services from Sydney, Newcastle, Canberra, Melbourne, Brisbane and Gold Coast international airports.

Connected to markets in Australia and around the globe

Port Botany in Sydney, Australia's second largest container port⟩Port of Newcastle, the world's leading coal export port and largest bulk shipping port on Australia's east coast⟩Port Kembla in Wollongong, NSW’s largest motor vehicle import hub and grain export terminal, and our second largestcoal export port

⟩

Port of Eden, NSW's southernmost deep water port with the capacity to receive cruise ships, wood chippers and cargoships for logs.

⟩

How long does it take to reach global markets?

Air (Sydney) Sea

Auckland Port of Tauranga 3 hours / 11-13 non-stop flights per day 3.9 days

Dubai Port of Jebel Ali 14 hours / 3 non-stop flights per day 12.2 days

Los Angeles Port of Long Beach 13.5 hours / 5 non-stop flights per day 11.3 days

Seoul Port of Incheon 10 hours / 2 non-stop flights per day 15.3 days

Shanghai Port of Shanghai 10 hours / 2-4 non-stop flights per day 8 days

Singapore Port of Singapore 7.5 hours / 9 non-stop flights per day 13.3 days

Tokyo Port of Tokyo 9.5 hours / 3 flights per day 7.5 days

Source: Air approximations are based on Google Maps. Sea approximations calculated using commercial container ships’average speed of 24 knots and data from https://sea-distances.org/.

Image credit: Advantage Wollongong

Regional NSW boasts a ready supply of skilled labour, with 58% of theworkforce holding tertiary qualifications.

Of these, 22% have science, technology, engineering or mathematics (STEM) qualifications, 10% have a health qualification and4% have an agricultural qualification.

Best of all, our population is growing, with more talent entering the labour market every day. In fact, the number of adultworkers living and working in NSW is set to ncrease by 8.4% by May 2022, compared to projected national growth of 7.8%.

Around 15% of NSW workers are self-employed and 33% work outside of Sydney.

Doing business in Regional NSW costs significantly less than in major

A highly skilled, productive workforce

Low costs

metropolitan locations.

Office rent in Regional NSW averages A$260 per square metre a year compared to A$695 in Melbourne’s CBD. Wages are alsolower with an annual median of A$60,700.[1]

The average annual charge for domestic waste in Regional NSW is just A$329.

Image credit: Amber Hooper Photography

Increasingly, people are moving to Regional NSW for its safe, relaxed lifestyleand diverse employment and career opportunities.

Regional NSW boasts spectacular coastlines and beaches, 890 national parks and nature reserves, the Australian Outback andthe country’s largest ski fields. It combines this with vibrant communities and thriving local arts, cultural, sporting andrestaurant scenes.

Better lifestyle and career opportunities

The transport and infrastructure available here is world-class, with excellent access to high-quality health care and publicservices.

Regional NSW has 1,648 schools, 100 Technical and Further Education (TAFE) facilities, 350 private registered trainingorganisations and five major universities.

But most importantly, life in Regional NSW is surprisingly affordable, helping it to attract more and more skilled workers everyday. The average monthly rent is just A$1,120 and residents can expect to pay substantially less than their metropolitan-basedcounterparts for other living costs, such as school fees and childcare.

Regional NSW residents also consistently report a higher quality of life. The NSW Government is committed to making thiseven better by working towards a stronger regional economy, growing the number of quality jobs, increasing job security andbuilding well-connected communities.

Regional NSW is benefiting from a once-in-a-generation A$93 billion publicinvestment in infrastructure and communities over next four years.

This aims to boost population and economic growth and support businesses and investors.

One example of this large-scale infrastructure development is the A$4.2 billion Snowy Hydro Legacy Fund, which will helpdeliver the critical infrastructure and priority initiatives identified in the NSW Government’s20 Year Economic Vision for Regional NSW.

The Fund brings together planning and investment to focus on growing jobs and economic activity in Regional NSW. Businesscases are being developed to identify projects in five focus areas:

Unprecedented NSW Government support

Water security⟩Rail and road passenger connectivity⟩Freight linkages⟩Digital connectivity⟩Activation Precincts⟩

A$4.2bto improve long-term regional watersecurity

A$1.8bfor drought relief package

A$1.7bfor faster, safer and cheaper travel, supporting the intercity fleet

A$400mto invest in communications infrastructure and deliver improved regional voice and data connectivity.

A$100mto enrich country communities

Key financial investments

Ian Smith

Director, NSW Office of Regional Economic Development

Office contacts

Suite 1, Level 147-59 Wingewarra StreetDUBBO NSW 2830

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