The New South Wales Government in Australia has announced a new AUD 3 billion (US$ 1.99 billion) acceleration fund to go towards job-creating projects, increasing the Government’s infrastructure pipeline to a guaranteed AUD 100 billion (US$ 66.63 billion). The new Infrastructure and Job Acceleration Fund will be used for smaller, shovel-ready projects touching every corner of the state, injecting up to an extra 20 thousand jobs back into the NSW workforce.

With this decision the Government will no longer proceed with the refurbishment of Stadium Australia, redirecting around AUD 800 million (US$ 533.10 billion) towards the new fund for job-creating infrastructure projects. The Government said the Stadium Australia rebuilding was a sensible project backed by the people of NSW at last year’s election, but in the current health and economic climate, it no longer makes sense.

The promised Parramatta Powerhouse museum will still be delivered through the infrastructure pipeline. This project alone will create more than 1,100 construction jobs in Western Sydney, 2,400 indirect jobs, and keep hundreds employed once it opens. The government is also looking at options to support the Arts community at Ultimo.