The State Government has approved a million dollars in funding to begin investigations into the site  of a new bridge over the Shoalhaven River at Nowra.

In a joint statement local Liberal MP's Gareth Ward and Shelley Hancock, Mayor Paul Green and Roads Minister Duncan Gay say the new bridge will replace the old iron structure, built 131 years ago.

Shoalhaven Council says a location needs to be determined as soon as possible because  there is a huge amount of un-certainty surrounding future development in Nowra Bomaderry, and along the water front.

Cr Ward says the life of the old bridge is coming to an end and a new site has to be found.

Upper House MP and Mayor Paul Green says the logical location is close to the existing crossings, and hopes the new bridge will be operational by the end of the decade