The Queensland Government will target innovative industries as part of its new $180 million Advance Queensland program, which it describes as a comprehensive suite of reforms that will create jobs now, and jobs for the future.
Amongst the reforms, the Palaszczuk Government will invest $76 million in a Business Investment Attraction package, which is designed to encourage new Queensland startups, support proof-of-concept projects, and attract co-investment through the Business Development Fund.
A $46 million Advance Queensland Future Jobs Strategy will promote collaborations between industry and research, focus on translation and drive the development of 10 year roadmaps for industries with global growth potential.
Premier Palaszczuk said Advance Queensland is at the core of her Government’s first Budget, to be announced today, because it needs to be at the core of Queensland’s economic agenda.
“Advance Queensland will help make our state a place where industry, universities and government work together to take great ideas, turn them into investment-ready proposals, attract that investment, and create jobs,” said Ms Palaszczuk.
“My Government knows that we must look beyond our traditional strengths, as important as they are, and help create the new industries that in turn create new jobs.
“Thanks to previous Labor Governments, Queensland has a world-renowned research base.
“But while we have many promising ideas, we need to ramp-up our capacity to turn those ideas into investment-ready business proposals.
“Advance Queensland will help us solve global challenges, seize opportunities in growing markets, fight for investment dollars, and create the jobs of the future.
“It could lead to a whole new approach to our education system, while also positioning the state as an attractive investment destination with a strong innovation and entrepreneurial culture.
“The rest of the world is looking towards innovation and research for the next wave of opportunities.
“I don’t want Queensland to merely be a part of the pack, I want us to lead it,” she said.
Ms Palaszczuk highlighted the partnership between QUT and Johnson and Johnson as a key element of its program.
“Queensland can attract the world’s biggest companies to our shores, but we should also be trying to create major companies of our own.
“Innovation jobs flow through to the rest of the economy, be they rural jobs, transport jobs, construction jobs, or processing jobs.
“By making innovation and knowledge-based industries a key focus of this Government, we are intent of delivering a new era of opportunity for Queenslanders.”