The state government will create a special activation precinct at Williamtown that will unlock millions of dollars of private sector investment and create thousands of jobs over coming decades.
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Deputy Premier John Barilaro, who made the announcement at BAE Systems in Williamtown on Thursday, said the new precinct would be a national and international defence and aerospace hub.
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The state government will streamline planning approvals and tailor infrastructure investment in areas such rail, roads and drainage to support the precinct's establishment.
As a first step, $5million has been allocated to create a precinct masterplan.
The Williamtown precinct, which has been planned for 20 years, will be the state's fifth special activation precinct to be created from the Snowy Hydro Legacy Fund.
"This is about attracting more money to regional NSW, creating job and career opportunities for locals and people who are keen to relocate and cutting red and green tape to support growth in the wake of COVID-19, bushfires and drought," Mr Barilaro said.
