The freshly elected NSW government has come under fire for withholding promised infrastructure spending from asset recycling schemes.
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Since 2011, the state government has earmarked "at least $14 billion for regional infrastructure from the Snowy Hydro and Restart NSW funds", however the NSW Business Chamber said only a fraction has been spent in the eight years since.
The business chamber wants to see "a focus on measures to accelerate the delivery of regional infrastructure" following the March election victory.
Chamber regional manager Joe Townsend said "that amount of money can make a huge difference for generations to come", and would particularly like to see infrastructure projects that could combat the region's youth unemployment rate, which at 7.8 per cent is the state's highest.
"Regional NSW should share in the benefits of asset recycling immediately," he said.
"It is important that the tempo of delivery is lifted."
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In 2011 the Restart NSW Act was legislated "for the purpose of setting aside funding for, and securing, the delivery of major infrastructure projects and other necessary infrastructure."
Late last year the Report on State Finance, prepared by the Audit Office, found that only 18.5 per cent of that fund had been spent on regional areas, despite the act legislating that 30 per cent belonged to the regions.
At that time the coalition maintained "the rest is earmarked for future projects", but Mr Townsend said "the time to invest is now."
"Unfortunately the rollout of Restart NSW has not achieved the targets set, with less than 20 per cent of the promised 30 per cent invested," he said.
"The chamber is calling on the new Parliament of NSW to get on with the job and accelerate the Restart NSW Funding, particularly in those areas that have been ravaged by drought, and those experiencing stubbornly high youth unemployment."
The Leader contacted Tamworth MP Kevin Anderson, but he did not respond before deadline.
The chamber proposed the establishment of the NSW Infrastructure Coordination Authority, focused on improving delivery of key projects.
"Our region needs to see key infrastructure funded to offset the impact of drought, and build the infrastructure required to grow the economy," Mr Townsend said.
