The Prime Minister, Deputy Prime Minister, Premier of NSW, and the Deputy Premier of NSW travelled to Dungowan Dam on Sunday 13 October, 2019 to announce $480 million in funding for a new Dungowan Dam.

Tamworth Regional Council has been supporting and advancing this project for a number of years with the lack of funding available acting as the main deterrent for advancement of the dam. With the funding announcement made by the Federal and State government the project can now move ahead.

The new Dungowan Dam will help towards water security for Tamworth's ever growing population.