Investment success: key growth areas in Regional NSW
So many successful international and Australian companies have already used Regional NSW to take their business further.
You can join them by taking advantage of the very real opportunities to invest and expand your business across key sectors in Regional NSW.
Agribusiness and food manufacturing
Regional NSW is known for its expertise in the sector and it’s easy to access the skilled labour and distribution networks you need to succeed. Regional NSW also boasts proximity to inputs, such as local agricultural products and global-scale, cutting edge manufacturing plants.
Australia is one of the world’s most desirable travel destinations and Regional NSW offers more diverse tourism options than any other state or territory, combining diverse natural beauty, country hospitality and excellent eating and drinking options.
Regional NSW’s skilled workforce, low cost of doing business and emphasis on research and collaboration provide the perfect environment for advanced manufacturing companies to cluster, collaborate and grow.
Regional NSW supports defence sector companies with a complete ecosystem of critical industrial capabilities. It also offers a highly skilled workforce and world-class academic and research institutions.
Professional and financial services
Regional NSW’s financial and professional services sector is expanding. There are also real opportunities to streamline your business operations and increase efficiency through shared services or teleworking.
Regional NSW has a global reputation for its quality softwood. Meanwhile, increasing domestic and international demand for sustainable timber and processed paper products is providing more opportunities than ever in the forestry supply chain.
Mineral resources and mining
We boast some of the world’s richest mineral deposits. Capitalise on new investment in established mineral mines, operations technology and port facilities and tap into the new markets in resources such as rare earth minerals.
Transport, logistics and distribution
Regional NSW is on the move and as our economy expands so does our need to transport goods more efficiently. Invest in our sophisticated transport, logistics and distribution networks, serviced by major international and local providers.
Regional NSW is undergoing an infrastructure boom. Unprecedented public and private investment in Regional NSW, a growing population and substantial residential construction pipeline is presenting real opportunities in this vital sector.
Some of the international companies that have grown out of Regional NSW
Efficient connections to key markets
Regional NSW is strategically located close to major Australian and overseas markets.
Australia’s largest metropolitan market, Sydney, is accessible within hours and the demand generated by the city’s rapidly growing population of five million people provides businesses in Regional NSW with a solid platform for growth.
Major road and rail freight routes connect Regional NSW to domestic and international markets through rail, sea ports and airports. A new A$9.3 billion Inland Rail network is currently under construction in Regional NSW. This will help increase efficiency in moving freight to major centres and ports outside of our state, such as Melbourne, Brisbane, Adelaide and Perth.
The National Broadband Network (NBN) brings fast internet speeds to much of Regional NSW. Australia-wide, 5.4 million homes and businesses are already connected with a further 9.5 million homes and businesses now ready to connect.
The NBN is complemented by the NSW Government’s A$400 million investment in digital connectivity. This initiative will eliminate mobile blackspots, provide new data centres and help give Regional NSW even faster, more reliable internet connections.
A cost-effective operating environment
In a competitive business environment, keeping costs down can make a real difference to how rapidly any business grows.
The comparatively low cost of doing business in Regional NSW helps set it apart from other areas. For instance:
- Office rental costs average A$249 a square metre per year, and less in many regional centres, compared with an average rent of A$695 per square metre in Melbourne’s CBD
- Average annual domestic waste charges are just A$329
- Average annual water and sewer bills are only A$1,460.
Attractive lower living costs and high quality of life for employees, also encourages cost savings through high staff retention rates.
Government support for your business as you expand in Regional NSW
The NSW and Australian Governments offer support and advice to businesses looking to expand in Regional NSW and are committed to investing in and developing our region.
Some of the ways we can help include:
- NSW Investment Concierge Service - This supports companies looking to establish or expand in Regional NSW and our Special Activation Precincts.
- Regional Job Creation Fund -The NSW Government offers a range of incentives to attract new and growing businesses to Regional NSW.
- Regional Skills Relocation Grant - Businesses in eligible industries may be entitled to incentives to relocate highly skilled staff from metropolitan areas.
- Training Services NSW - This provides subsidised training for staff, including part qualifications.
- Research and Development Tax Incentive - Eligible company research and development activities are entitled to refundable tax offsets.
- Business Connect - This NSW Government initiative offers business advisory services and business skills training.
- Boosting Business Innovation Program - This A$18 million program encourages collaboration between NSW research organisations and business communities.
- TechVouchers - Amounts of up to $15,000 are awarded on a competitive basis to eligible NSW companies to help them collaborate with Boosting Business Innovation Program delivery partners.
- TradeStart Network - This network, delivered by Austrade, assists small and medium sized exporters to achieve long term success in international markets.
Contact one of our investment specialists for more information on any of these programs.