The owners of hotels, resorts and other accommodation businesses are to get a $6.4 million injection of government funding to help build and operate new hotels, nightspots and other facilities in New South Wales.
Key points:The Australian Government is to provide $6M for hotel and gaming facilities in NSWThe Government says the facilities will be developed through a regional development strategyThe deal includes an upgrade of the Perth Convention Centre into a luxury hotel and a casinoThe Government has already spent more than $4 billion on upgrades to state and federal buildings, including the Sydney Opera House, the Great Barrier Reef and Sydney Airport.
The Government’s regional development and development opportunities strategy is to build and manage regional development to create a more sustainable and resilient economy.
The $6m will be available to local government and local business to develop hotels, entertainment, sporting venues, hotels, recreation facilities and other areas of regional development.
It will be provided by the NSW Government, including through an increase in the state’s tourism funding.
The Tourism Industry Council (TIC) said the Government’s announcement showed the Government was investing in the tourism sector.
“This announcement by the State Government will help stimulate local businesses to build their hotels, strip malls, casinos and other entertainment facilities to support the growth of tourism and jobs in the region,” TIC’s director-general David Jaffe said.
“It will also bring greater certainty to local communities, as there is no certainty that these projects will be built or maintained in the future.”TIC chief executive Mark Williams said the money would be used to expand the Sydney Convention Centre as a hotel, nightspot and entertainment venue.
“The Government is committing more than four billion dollars to infrastructure investment and it is vital we get this done now,” Mr Williams said.
The announcement comes as a host of other infrastructure projects have been approved by the federal government, including: $5 billion for the Port Macquarie rail line, $4.7 billion for a major new rail tunnel, $3 billion for more roads and $1.3 billion to develop an airport.
More to come.