NSW govt's Investment Delivery Authority receives close to 50 proposals

The NSW Government’s Investment Delivery Authority (IDA) has received 48 major investment proposals worth $136 billion, following the first round of expressions of interest.

The submissions span each of the critical sectors called for in the first round.

22 projects relate to renewable energy and energy security, valued at $63 billion; 23 projects relate to data centres and technology, valued at $72 billion; and three projects relate to hotels critical to visitor economy growth, valued at $860 million.

The IDA was established to proactively identify barriers to major investment in NSW, and assist industry getting major projects across the line.

EOIs from the first round are now being evaluated and will be considered by the IDA, comprising the Secretaries of the Premier’s Department, Treasury, Department of Planning, Housing and Infrastructure (DPHI), along with the Chief Executive of Infrastructure NSW.

Eligible projects must demonstrate that they are able to begin work quickly and will benefit from government resolving barriers.

Recommendations will be made to the Treasurer, Minister for Planning and Public Spaces and the Minister for Industry and Trade.

Projects that are endorsed by the IDA will receive specialist government support for their major investments in NSW, including from a dedicated planning assessments team within DPHI and from a multi-agency Investment Taskforce based in the Premier’s Department.

The IDA is also expected to make recommendations about where the assessment process could be further improved for projects that are of state significance.

While endorsement does not mean that a project will receive planning approval, it is expected that the IDA will make recommendations for assessment on the basis that they align with the NSW investment interests, would materially benefit NSW economic growth and lead to further investment over time in that industry or a related one.

The IDA should also make recommendations about what other improvements and mechanisms of support can be made to attract industry investment.

Premier of New South Wales Chris Minns said the level of interest is "really promising".

"It shows the IDA is something investors have been waiting for," he said.

"Our Government is sending a clear message to global investors: if you bring your money to NSW, we’ll help you navigate our system. We are making sure NSW is open for business.”

Treasurer Daniel Mookhey said the strong response from the private sector shows confidence in NSW as a place to invest and grow.

“Every proposal submitted meets the IDA’s eligibility threshold, which speaks to the scale and ambition of these investments. This is exactly the kind of private sector-led growth we want to accelerate," he said.