The NSW Government has confirmed that there will be almost 20,000 jobs by 2021/22. 

As an outcome to the $190 million Jobs for NSW Fund, NSW’s investment in the long term future of the state will show results within four years. 

However, Jobs for NSW has recently been under fire for not producing the outcomes quickly enough. 

“Our investments through Jobs for NSW were never intended to be short term sugar hits- they will take a few years to realise fully their job creation targets,” Jobs for NSW Chair David Thodey said. 

“Instead of using the $190 million to hand over cash in the form of one-off grants, the Board and team at Jobs for NSW have developed innovative products, services and investments that support startups and companies to create jobs over the long term,” he said. 

One of the investments included Australia’s biggest startup location, the Sydney Start Up Hub. This will involve more than 2,500 innovative people to work to create jobs and industries of the future. 

Other initiatives included capital loan products to companies, where the investments will be recycled back into the Fund. 

Also, they have invested in new industry precincts like Westmead for future research and education. 

Jobs for NSW has already created 246,000 jobs in NSW between April 2015 and January 2018, according to the Australian Bureau of Statistics (ABS). They will continue to generate thousands of jobs, with an estimated number of 20,000 jobs by 2021/22. 

“The NSW Government, through Jobs for NSW, is making the smart investments needed to create the business and jobs of the future for the people of NSW,” Mr Thodey said. 

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