Funding for ‘future economic development’ of four coal mining regions

THE 2025-26 NSW Budget will include $27.3 million over four years to fund the Future Jobs and Investment Authority, initially focusing on the Hunter and Central West regions.

“The Authority will help guide the future economic development of the four coal mining regions – the Hunter, Central West, Illawarra, and North West – from coal production towards other economic opportunities and employment,” the NSW Government said in a statement.

As part of its remit, the Authority will develop a framework to allow funding to be spent on projects like infrastructure and post-mining land use planning, skills mapping, feasibility assessments and training programs.

This will be done in concert with the Federal Government’s Net Zero Economy Authority.

The NSW Government will also continue its existing commitment to deliver $22.5 million into the fund each year.

The model of the Authority follows the release of a proposed structure in mid-2024, and ongoing consultation with workers, communities and industry.

Minister for the Illawarra and the South Coast Ryan Park said the Authority will play a key role in driving job creation in the Hunter, including in the future energy sector.

“The Hunter has always been the engine room of NSW – now it’s time to position ourselves as a national leader in clean energy and advanced manufacturing as well,” Mr Park said.

“We need innovative, creative job opportunities, and the Authority opens up new possibilities, setting a clear pathway for growth.”

Within the Authority, four local divisions will be created in the Hunter, Illawarra, Central West and North West, featuring representatives of industry, workers, local government and community groups.

“The Authority will work hand-in-hand with our local communities, industry and education providers to ensure our region is at the forefront of this transformation – not left behind by it,” Mr Park said.

“This is about putting the right structures in place to support our workers today while building a stronger, more diverse economy for tomorrow.

“It’s about future-proofing the Hunter, ensuring that we continue to be a place of opportunity, stability and prosperity for generations to come.”

Currently, around 25,000 people are directly employed in NSW coal mines.

Under current planning approvals, by 2040 all four of the state’s coal-fired power stations, and 32 of the state’s 39 coal mines, will close.

Duty MLC for Lake Macquarie Emily Suvaal said mining will continue to be a “massive employer to so many in the Hunter for years to come”, however we must be ready for the reliance on coal to decrease.

“The establishment of the Future Jobs and Investment Authority gives everyone in mining and the supply chain time to reskill and take advantage of the new wave of opportunities coming to the Hunter,” she said.

The NSW Government will legislate these changes over the coming months.