Queensland government launches $1.84bn Jobs Fund for new flagship program
The Palaszczuk government has launched a new $1.84 billion Jobs Fund to boost Queensland’s industry footprint, create jobs and create a stronger state economy.
It is part of the Queensland economic recovery plan to provide a vision for the state’s long-term recovery following the COVID-19 pandemic, with a strong health response to the crisis providing a solid platform to transform the economy.
Premier Annastacia Palaszczuk said the Queensland Jobs Fund gives industry the support needed to establish and grow their businesses in Queensland.
“People and businesses are moving to Queensland in droves because they know it is one of the safest places in the world to live, work and raise a family,” said the Premier.
“We have a strong track record of creating jobs, in defence with Rheinmetall, aerospace with Boeing and biomedical with the likes of Vaxxas and Anteotech.
“These funds will allow us to do much more and create even more jobs across Queensland.”
A new $350 million Industry Partnership Program is part of the Queensland Jobs Fund, on top of existing programs that support job-creating industries like renewable energy, hydrogen, resource recovery, business, manufacturing and catalytic infrastructure.
The $1.84 billion Queensland Jobs Fund includes:
- Hydrogen Industry Development Fund
- The new $350 million Industry Partnership Program
- Renewable Energy Fund
- Made In Queensland
- Manufacturing Hubs
- Building Acceleration Fund
- Resource Recovery Industry Development Fund
- Backing Queensland Business Investment Fund
Deputy Premier Steven Miles said the new program provides a co-ordinated approach for business, including funding, land and planning approvals.
“It’s not just about helping businesses get back on track, it’s about making sure we leverage the opportunities that we’ve created in Queensland off the back of our world-class pandemic response and recovery,” Mr Miles said.
“Now we will have a single concierge for businesses who want to move here or grow here and employ more Queenslanders here.”
Mr Miles said the jobs program is not just about financial incentives, but includes planning certainty, access to land, fiscal incentives such as payroll concessions, tax reimbursements and relief from fees and charges.
Treasurer Cameron Dick said the $1.84 billion fund will boost Queensland’s investment attraction competitiveness.
“Queensland’s economy is leading the nation’s recovery from COVID-19 which is translating to strong investor interest,” the Treasurer said.
“The Jobs Fund will allow Queensland to support the full spectrum of private sector opportunities from equity investment, investment attraction, business retention and expansion in our priority industry sectors.
“It will attract major private investment projects to the state and create ongoing jobs in priority sectors and related supply chains.”