According to the announcement made by NSW Treasurer Dominic Perrettet every NSW resident aged 18 and over will be eligible for four $25 vouchers worth $100 in total - with the program designed to encourage people to spend multiple times to support their local businesses.

Member for Cootamundra Steph Cooke believes the vouchers will help to stimulate the state's economy which has been affected by the COVID-19 pandemic.

"So many of our small businesses have had an incredibly difficult year and these vouchers will hopefully give them the boost they deserve. It's also a wonderful opportunity for everyone to enjoy themselves after this tough time," Ms Cooke said.

"I am very hopeful we will see people visiting our beautiful region and making the most of these vouchers, as well as locals continuing to support the businesses they love."

Two of the four vouchers can be used for eating in at venues such as restaurants, cafes, clubs and other food service venues, and two vouchers can be used for entertainment and recreation, such as cultural institutions, performing arts, cinemas, and amusement parks.

However, there are some restrictions on what the vouchers can be used for including not being redeemable for tobacco, alcohol or gambling.

According to Mr Perrottet MP the aim of the $500 million programme is to 'boost businesses hit hard by the pandemic' and 'encouraging people to get out and enjoy the best of NSW' in an effort to reinvigorate the economy.

"No industry has felt the economic impacts of COVID-19 more than the hospitality, arts and tourism industries," Mr Perrottet said.

"NSW acted swiftly to save lives and stop the spread of COVID-19 and we want to help businesses by encouraging spending within local communities, especially within the hospitality, arts and tourism sectors."

According to the announcement there will be a pilot of the programme run in the Sydney CBD by Service NSW before the Out and About scheme will be launched into the rest of the state in the new year.