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New $1.84 billion funds to drive up job generation

Skyline of construction cranes at night.

By Juliano Oliveira

Queensland Government has announced a new $1.84 billion fund for the creation of jobs and businesses’ expansion in the state.

Renewable energy, hydrogen, resource recovery, business, manufacturing and catalytic infrastructure have been the most privileged sectors, with the injection of a $350 million industry partnership program. The forecast is that the partnership will generate 2,800 jobs across the state.

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

Mr Miles said the jobs fund includes planning certainty, access to land, fiscal incentives such as payroll concessions, tax reimbursements and relief from fees.

Premier Annastacia Palaszczuk affirmed that the initiative would meet the expectations of residents and companies moving to 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.

“These funds will allow us to do much more and create even more jobs across Queensland.”

Treasurer Cameron Dick said the $1.84 billion in funds would pave the way to investment attraction competitiveness.

“The Jobs Fund will put Queensland in the box seat to capitalise on the economic recovery to transform our economy into a job 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.

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

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