SOUTH East Queensland (SEQ) is set to become a major hub for innovation, fueled by over $150 million in infrastructure investment.
The SEQ Innovation Economy Fund is part of the $1.8 billion SEQ partnership between the Australian Government, Queensland Government and Council of Mayors (SEQ), which aims to improve the accessibility, prosperity and livability of the region.
The fund aims to support capital projects that enhance infrastructure within SEQ innovation precincts, accelerating the creation of high-value, future-focused jobs.
It also seeks to boost the SEQ innovation economy by developing and commercialising innovative products, services and processes using sustainable technologies.
Additionally, the fund will foster new and existing partnerships to strengthen the innovation economy and deliver greater economic, environmental and social benefits for the region.
Federal Minister for Cities Jenny McAllister said investing in future technologies and industries would drive innovation, create more high-value job opportunities and make SEQ an even more exciting place to work and live.
“The Albanese Government is working closely with our state and local government partners to deliver initiatives that benefit the community and support the local economy,” she said.
State Minister for State Development and Infrastructure Grace Grace said the SEQ City Deal was a partnership between the three levels of government aimed at supporting jobs, improving connectivity, and preserving and enhancing the liveability of the SEQ region.
“SEQ is an emerging economic powerhouse, with thriving industries and businesses offering new opportunities for employment and business growth for liveable and sustainable communities for the future,” she said.
“The SEQ Innovation Economy Fund will help local governments, industry, public and private entities deliver high-value jobs across the region.”
Funding of up to $25 million is available for major capital projects that include new builds, extensions or refurbishments of innovation infrastructure, the purchase and installation of new equipment, or innovation-specific expansions to current capital projects.
Funding of up to $5 million is available for minor capital projects, including refurbishments and the purchase and installation of new equipment.
Applications for the SEQ Innovation Economy Fund close on November 22.
Info: advance.qld.gov.au/grants-and-programs/innovation-economy-fund.
