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NSW Grants Funding for Revolutionary New Institutes of Applied Tech

Over 26,000 students exploring careers in critical industries will benefit from an additional AU$ 108.5 million over four years for the NSW Government’s two new TAFE NSW Institutes of Applied Technology (IAT). This investment will bolster the existing AU$ 222.5 million commitment from the NSW Government to design and construct the two pilot institutes.

The NSW Treasurer stated that the 2022-23 NSW Budget will back the revolutionary new education model which combines the best of university and vocational education, with a focus on two critical areas of demand – the construction industry and digital technology. He noted that the Budget will deliver a record investment for TAFE NSW, both in terms of operation funding and capital expenditure to improve facilities, upgrade teaching equipment and create modern learning spaces. He added these new IATs will strengthen the delivery of education and training, creating a pipeline of job-ready graduates, and set graduates up for the future.

The IAT for Digital Technology at Meadowbank will focus on the in-demand areas of big data, cybersecurity, and artificial intelligence, and will be delivered in partnership with a leading US-based tech giant, the University of Technology Sydney and Macquarie University. The IAT for Construction at Kingswood will focus on project management, leadership, and digital construction skills, with a delivery partner to be announced soon.

The Minister for Skills and Training stated that the new IATs will bring together TAFE NSW, the region’s world-class universities and industry leaders to ensure a holistic, hands-on learning experience for students. He added that by partnering with global tech giants and educational institutions like UTS and Macquarie University, graduates can receive cutting-edge courses while the industry receives a pipeline of job-ready individuals.

This is the future of skills and training and the NSW Government is leading the nation in investing in this critical infrastructure which will help people get the skills to grow our economy and create a brighter future for the State, the Minister said.

The IATs deliver on a key recommendation of the Gonski-Shergold review into the NSW vocational education and training sector. Construction is underway on both sites, with both expected to be open in early 2023.

In April 2022, the NSW Treasurer announced that the 2022-23 NSW Budget will be handed down on 21 June 2022. He noted that he looked forward to delivering his first Budget which comes as the NSW economy continues to rebound from challenges such as COVID-19 and recent floods.

“We know the past two years have been hard for the people of NSW and the Omicron wave brought new unexpected challenges,” the Minister said. “But NSW has shown its resilience: unemployment is at a record low of 3.7 per cent, consumer spending is growing strongly, and business confidence is well above its decade average.

The Budget will lay out the State’s plans for the next 12 months and beyond to support NSW families and build a better future. The NSW Government had, to date, committed over $2 billion towards the 2022 flood recovery.

Moreover, over $46 billion has been committed to health, economic and social support measures since the pandemic began, including the region’s $2.8 billion Economic Recovery Strategy. The $110.4 billion infrastructure program has also helped drive NSW’s recovery and kept people in jobs and the Government is committed to supporting business and the community as it delivers for the people of NSW, he concluded.

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