The money will be spent encouraging businesses to relocate to regional areas with plans to also introduce services to make site selection, the purchase of land and the planning process easier.

NSW regional development minister Tony Kelly said the Government was committed to helping regional communities attract new investors and to expand existing businesses.

The funding has been met with a mixed reaction from the president of the Maitland Business Chamber, Jennifer Nichols.

“I suppose, Maitland will get some of the $44.9million allocated for regional areas with plans to development funding, and it will be appreciated,” she said.

“But here in Maitland, we are already doing pretty well attracting investors and businesses, and that may work against us.”

There are also plans to generate interest and growth in regional areas through government programs, Mr Kelly said in a statement.

Business investment tours, such as regional food, boutique beer and wine tours, had already enabled more businesses in the bush to reach a wider market he said.

A portion of the environment budget would also be used to purchase water entitlements to assist regional communities.