NSW 2024-25 Budget Overview
The New South Wales Government presented its 2024-25 state budget on Tuesday, June 18th, outlining strategic investments across various sectors. The budget aims to address economic challenges and promote growth through initiatives in infrastructure, healthcare and housing .
Connect Macquarie Park Innovation District (CMPID) welcomes the NSW Government investment and focus on housing and healthcare.
A few key initiatives to highlight include:
Housing
The NSW Government will deliver up to 30,000 new homes situated near infrastructure and transport to address the housing pressure facing the people of New South Wales including homes on government land, sites have not yet been identified. Additional funding will be allocated for public housing and homes for essential workers.
Healthcare
A further $47.8 million allocated to Ryde Hospital, bringing the total redevelopment funding to $526.8 million. This investment aims to enhance healthcare services for residents within the City of Ryde LGA, Macquarie Park and surrounding areas.
Transport
Although previously announced the budget papers re-confirmed the $40 million to develop the business case for the Sydney Metro Northwest and Sydney Metro – Western Sydney Airport-Northern extension between St Marys and Tallawong.
This investment would connect Macquarie Park Innovation District to fast-growing suburbs of the North-West and Western Sydney International Airport.
These investments come after the Federal Government’s funding of $115 million for a Zero Emission bus depot in Macquarie Park and an additional $10 million to accelerate the bus interchange development.
CMPID congratulates the state and federal collaboration to progress the local transport connectivity of the district.
What’s next
CMPID looks forward to working with the NSW Government as the Macquarie Park Innovation Precinct – Stage 1 rezoning proposal is finalised.
CMPID looks forward to the finalisation to provide certainty to the stakeholders and to ensure feedback has been incorporated which outlines a strategic balance of housing with future space for employment and innovation growth.
We also look forward to the finalisation of the NSW Innovation Blueprint to outline the NSW Government’s strategic focus on industry growth, innovation ecosystem and confirmation of Macquarie Park’s strategic focus as a priority innovation district.
