The NSW Government has passed legislation that it says will greatly enhance the delivery of regional economic development and build stronger communities across rural and regional NSW.
Minister for Agriculture and Regional NSW, Tara Moriarty said that updating the Regional Development Act was an important milestone that would ensure investments into rural and regional communities from the Government’s $400 Regional Development Trust were strategic and provide real benefits for regional communities.
“This new Act represents the full delivery of the Regional Development Roadmap to update our regional development framework,” said Ms Moriarty.
The Act will be supported by the establishment of a new Regional Development Advisory Council, which will provide independent advice and oversight on investments from the Regional Development Trust.
“The Trust will invest where it is needed most and support projects that deliver meaningful benefit to regional communities,” said the Minister.
“With these changes, regional communities can have full confidence that investments are made in a fair and transparent way underpinned by independent expert advice.”
She said the modernised Act reflects the community feedback and 232 submissions received in response to the community engagement on the Bill.
This engagement also included hearing from rural and remote council Mayors and general managers, regional Councils, the NSW Aboriginal Land Council, Business NSW, NSW Farmers, Regional Development Australia, regionally located Universities and the NSW Aboriginal Women’s Advisory Network.
Changes to the Regional Development Act include:
- Updated objects of the Act to reflect the contemporary needs of rural and regional NSW and encourage cooperation and collaboration with all tiers of government including local government;
- Broader types of financial investment that can be provided from the Regional Development Trust to better respond to the challenges and opportunities in rural and regional NSW;
- Reinvestment enabled into the Regional Development Trust by government, private sector and non-for-profit organisations;
- Strengthened accountability and transparency through new governance and reporting provisions requiring the publication of an annual report, investment strategy and governance framework so the public have a clear understanding of the focus and investment of the Regional Development Trust;
- A mandate that the Minister must establish a Regional Development Advisory Council so that independent expert advice is a constant component of the administration of the Regional Development Trust.
Community members interested in shaping the future prosperity of regional NSW are encouraged to apply to become part of the Regional Development Advisory Council.
Expressions of Interest for the new Advisory Council are now open and will close on 11:59PM Wednesday 9 October.
For more information, go to: www.nsw.gov.au/regional-nsw/regional-development-roadmap.
