Palaszczuk Government launches $1.84 billion jobs fund

The Palaszczuk Government has launched a new flagship program, bringing together $1.84 billion in measures designed to turbo-charge job creation in Queensland.

Premier Annastacia Palaszczuk said the Queensland Jobs Fund gives industry the support they need to establish and grow their businesses in Queensland.

“This will support new jobs across the state as we keep delivering Queensland’s plan for economic recovery from COVID-19,” she said.

“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.

“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.”

The Queensland Jobs Fund includes a new $350 million Industry Partnership Program and existing programs that support job-creating industries like renewable energy, hydrogen, resource recovery, business, manufacturing and catalytic infrastructure.

Deputy Premier Steven Miles said the Queensland Jobs Fund would provide a coordinated approach for business, including funding, land and planning approvals.

“The Queensland Jobs Fund is the government’s next step toward Queensland’s continued economic recovery,” Mr Miles said.

“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.

“Now we will have a single concierge for businesses who want to move here or grow here and employ more Queenslanders here.

“I want everyone to know the Queensland Government is ready to facilitate industry growth through investment and jobs.”

The Deputy Premier said the new $350 million Industry Partnership Program would support mature industries to adopt new technologies, assist rapidly growing sectors and emerging industries.

“The Industry Partnership Program will create at least 2,800 jobs across the state,” Mr Miles said.

“This industry program will provide tailored assistance packages to strengthen local supply chains and grow the footprint of Queensland’s industries, while creating jobs.

“We have an incredible opportunity in Queensland thanks to our health response. Companies from around the world are looking to Queensland to expand. We want to help them.

“We’ll work together with business, industry and research institutions to create assistance packages that fit each project.”

Mr Miles said the jobs fund was more than dollars and financial incentives. It 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 supercharge 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 put Queensland in the box seat to capitalise on the economic recovery to transform our economy into a jobs and investment powerhouse”

“It will support the full spectrum of private sector opportunities from equity investment, investment attraction, business retention and expansion in our priority industry sectors.  

“The Jobs Fund programs will attract contestable major private investment projects to the state and create ongoing jobs in priority sectors and related supply chains.

“The Palaszczuk Government has already driven delivery of over $2.5 billion in capital investment and up to 4,100 new jobs in the private sector via the Advance Queensland Industry Attraction Fund (AQIAF) and the Jobs and Regional Growth Fund (JRGF),” he said.

“Further announcements about the Jobs Fund will be made as part of the 2021-22 State Budget.”

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

Find out more at www.qld.gov.au/qldjobsfund

ENDS

Media contact:
Katharine Wright – 0428 957 903 (Deputy Premier’s Office)
Geoff Breusch – 0417 272 875 (Treasurer’s Office)