The Palaszczuk Government is delivering for Queensland businesses and regional councils with $146 million in additional grant funding in the 2019-20 state budget.
Minister for State Development, Manufacturing, Infrastructure and Planning Cameron Dick said the Building our Regions (BoR) program, Advance Queensland Industry Attraction Fund (AQIAF), Jobs and Regional Growth Fund (JRGF) and Made in Queensland (MiQ) program would all receive a funding boost in this year’s budget.
“These funding programs support Queensland businesses and regional councils, creating jobs, investing in infrastructure and growing our economy,” Mr Dick said.
“Building our Regions Round 5 will receive $70 million over four years to deliver critical job-creating infrastructure to regional communities to improve liveability and economic conditions.
“In partnership with regional councils, the Palaszczuk Government will continue to fund projects through BoR that have strong economic outcomes in local communities, delivering thousands of regional jobs.
“The $295 million available under previous rounds has seen 223 infrastructure projects funded across regional Queensland, supporting more than 2400 jobs and attracting additional investment of $487 million from councils and other organisations.”
Mr Dick said AQIAF would receive an additional $45 million, bringing total funding for the program to $150 million.
“The Advance Queensland Industry Attraction Fund offers financial incentives to encourage projects to relocate or expand in Queensland,” he said.
“To date, AQIAF has supported 14 projects which will generate more than 1090 new direct jobs and over $360 million in private investment during the next five years.”
The successful Jobs and Regional Growth Fund will receive an additional $25 million from this year’s budget, bringing total funding to $175 million.
“JRGF has seen 17 projects announced, along with nine election pledges, creating nearly 1000 operational jobs and supporting up to $485 million in capital investment in regional Queensland over the next five years,” Mr Dick said.
“This will stimulate ongoing regional employment and support sustainable economic development by assisting and accelerating private sector projects.”
Meanwhile, the MiQ program will be boosted to $46 million in this year’s budget to continue to support small-and-medium-sized manufacturers to become more internationally competitive, with $10 million to be allocated this coming financial year.
“Made in Queensland is a practical initiative that is boosting regional manufacturing,” Mr Dick said.
“Round 1 saw an investment of $18.2 million in Queensland’s manufacturing sector, which is expected to generate more than 530 direct high-skill jobs over the next five years.
“Through MiQ Round 2, we allocated a further $17.6 million to help 25 businesses around our state innovate and expand.
“These businesses will ultimately employ an estimated 538 additional people over the next five years.
“Queensland’s manufacturing sector is worth $20 billion each year to our economy and provides jobs to more than 173,000 people,” he said
“A strong local manufacturing sector means more Queensland jobs, and more jobs means a stronger Queensland.”
The 2019-2020 budget has also committed $60 million for the implementation of The Spit master plan on the Gold Coast and $19 million to deliver the Queensland Hydrogen Industry Strategy 2019-2024, including $15 million for an industry development fund.
