The NSW Government will encourage domestic and international business into NSW through payroll tax relief as part of a new $250 million Jobs Plus Program, which is part of the 2020-21 NSW Budget.
The Jobs Plus Program will support companies who want to relocate their head offices to NSW, or expand their jobs footprint in NSW.
Premier Gladys Berejiklian said the new Program would create or support up to 25,000 jobs to 30 June, 2022.
“The challenges NSW has faced as a result of the triple crises of drought, bushfires and COVID-19 have given us an opportunity to change our approach and refocus on creating jobs for the future,” Ms Berejiklian said.
“NSW is the nation’s economic powerhouse and Jobs Plus will entice top-performing companies from interstate and across the globe to NSW, and cements this State as the best place to do business in Australia.”
Under the Jobs Plus Program, the NSW Government will provide support to businesses if they create at least 30 new net jobs. Support will include:
- Payroll tax relief, up to a four-year period, for every new job created where a business has created at least 30 new net jobs;
- Assistance with the NSW planning system, including fast-tracked planning approval pathways and advice, plus guidance on appropriate site selection to increase speed to market;
- Partnering to develop subsidised training programs in order to build specialised skills aimed at sustaining these new jobs into the future. This includes funding to develop and deliver bespoke skills programs which can be accessed by the wider NSW community;
- Providing enabling infrastructure such as building local roads, access to utilities and future-proofed digital infrastructure.
- Access to a one-stop-shop Jobs Plus Concierge Service in government to help businesses efficiently navigate and access government agencies and programs; and
- Access to free or subsidised government spaces and accommodation.
Treasurer Dominic Perrottet said the $250 million Program will reduce the cost of establishment, financial risk and speed to market for businesses looking to scale and grow in NSW.
“This is a clear signal to the private sector that NSW is the best place to invest and grow your business,” Mr Perrottet said.
“We are backing private and non-government sectors seeking to invest in job-creating projects, proposals and partnerships by supporting them throughout the critical stages of business development.”
Minister for Jobs, Investment, Tourism and Western Sydney Stuart Ayres said the proposals that will create jobs in growth industries or support technology and knowledge-based job creation could apply for a number of support measures.
“Jobs Plus is focused on bringing forward private sector investment and attracting new investors to NSW. Driving job creation in the non-government sector is critical to a successful COVID-19 recovery strategy,” Mr Ayres said.
“We want to make it clear to world-class multinational and domestic businesses that there is no better place in the world than NSW for them to set up, grow and create and sustain the jobs of the future.”
The Jobs Plus Program will commence 15 December 2020 and conclude on 30 June 2022.