$40 million boost to attract business to Queensland

The Palaszczuk Government is increasing its efforts to attract business to the state with a $40 million boost in the State Budget for the Advance Queensland Industry Attraction Fund.

Deputy Premier and Treasurer Jackie Trad said the additional funding, being provided over two years, together with $25 million allocated since last year’s Budget, brought total funding for the initiative to $105 million.

“Through this additional funding, the Palaszczuk Government is planning for Queensland’s future,” Ms Trad said.

“We are committed to attracting more companies to relocate or establish new projects here and supporting businesses to innovate, expand and be more competitive.

“As it stands, the fund has attracted nine projects to Queensland that will generate more than 580 jobs and more than $260 million dollars in additional capital expenditure for the state’s economy in the next five years.

“We look forward to building on the benefits the fund has already given Queensland by creating jobs, supporting regional growth and increasing innovation,” she said.

Minister for State Development and Manufacturing Cameron Dick said the funding was helping to create jobs and build Queensland’s manufacturing industry.

“We want to actively promote manufacturing, and if we can attract companies to set up their operations in Queensland through incentives and assistance then that’s a good outcome.

“The manufacturing sector employs around 165,000 people, or 6.7 per cent of the state’s workforce, making it the state’s sixth largest employing industry.

“As a Government we want to see this sector grow further.

“For example, through this industry attraction program Oji Fibre Solutions have constructed their $72 million cardboard factory at Yatala, which created 70 jobs.

“Oji is also opening satellite facilities in regional Queensland, creating up to a further 30 jobs. Centres have been opened in Mareeba and Bundaberg and Oji is planning to open a further centre in Bowen next year.

“Queensland will also be home to Boeing’s largest autonomous systems development program outside of the United States, adding 131 jobs to Boeing’s Queensland workforce – and these are truly jobs of the future.”

Mr Dick said the Palaszczuk Government offered a range of support measures for businesses considering Queensland as a location to establish their projects.

These included business case development, site selection, assistance to facilitate approvals and payroll tax incentives provided through the fund.

Media contact: Joe Begley 0447 320 039