Budget Delivers For Jobs Of Future

  • $2 billion next financial year to deliver major infrastructure, investment and jobs for Queenslanders
  • Economic Development Queensland (EDQ) continues vital work to help build more homes, faster, and shape the state as communities grow
  • Preparation for 2032 Games and their community legacy continues

The Miles Labor Government budget has delivered a $2 billion investment next financial year (2024-25) to deliver major infrastructure, investment and jobs right around the state.

This funding is part of a broader $107 billion Big Build, that is generating a jobs pipeline for the next decade.

New and emerging industries, including battery manufacturing, hydrogen, biomedical manufacturing and sustainable aviation fuel, continue to be the focus for investment opportunities – putting Queensland on the map nationally and internationally.

The budget will also see Economic Development Queensland continue their critical role in delivering the Homes for Queenslanders plan.

Budget highlights include:

  • $110 million over 5 years as part of the $570 million Queensland Battery Strategy,
  • $37.5 million for the Translational Manufacturing facility at the Translational Research Institute to establish a new scale-up biomedical manufacturing facility.
  • $7.4 million over 4 years to support the Co-ordinator General to facilitate key energy projects.
  • The ongoing $4.9 million for Regional Infrastructure Plans to ensure different parts of the state can make the most of the local opportunities available in their area.
  • $97.1 million in capital grants for Social and Affordable Housing on developments led by EDQ.
  • $16.5 million to investigate the delivery of social and affordable housing through public-private partnerships with work on Ground Lease Delivery Model pilots underway.
  • $1.1 million to support the establishment of medium scale, mixed use tenure housing projects in key growth areas.
  • $180 million for the South Bank Corporation to manage and maintain South Bank’s enviable reputation as Brisbane’s premier recreational, cultural, educational and entertainment precinct.
  • $44.3 million for civil and precinct infrastructure at Northshore Hamilton.

The $107 billion Big Build also continues the extensive and ongoing preparation for the Brisbane 2032 Olympic and Paralympic Games.

The budget also allocates funding for the new independent Games Venue and Legacy Delivery Authority.

As stated by Premier Steven Miles:

“Queensland’s big build is under construction right now and that means one thing – jobs.

“Now, this budget leverages Queensland’s position at the forefront of new industries to drive even greater investment and a record level of job creation.

“That’s in regional infrastructure development, battery innovation and manufacturing and to unlock housing development.

“There’s so much to be proud of in this budget, and Queensland’s Big Build is one of them.”

As stated by Deputy Premier and Treasurer Cameron Dick:

“The Miles Labor Government’s first Budget protects the jobs of today while preparing the Queensland for the jobs of tomorrow.

“While our $107 billion Big Build will support 72,000 jobs, almost 70 per cent out of the capital city, a lot of what we are building will create the environment for the jobs of the future.

“The Miles Labor Government’s $26 billion Energy and Jobs Plan will provide the clean and affordable power industries need in the future.”

As stated by Minister for State Development and Infrastructure Grace Grace:

“Queensland is growing and changing, and there are some incredible opportunities ahead of us: the Miles Government is making sure we are grasping those opportunities with both hands.

“When it comes to the jobs of the future, we are leading the way by providing strategic support and funding to industries like batteries, sustainable aviation fuel, and other renewable energy projects. This will ensure our well-established manufacturing and industrial communities right across the state can reap the rewards of an increasingly decarbonised economy, and not be left behind.

“The 2032 Games will put Brisbane and Queensland on the world stage: we are determined not only to make the most of our time in the global spotlight, but to deliver an incredible legacy right across the state including new and upgraded community sport venues.

“We’ve passed the legislation for the new independent delivery authority with interim CEO Emma Thomas starting July 1 and applications for the board now open.

“With this growth and opportunity we know we need more homes, faster, and EDQ will continue its vital role to free up land to build more homes and increase the delivery of social and affordable housing.

“Our $107 billion Big Build will deliver the hospitals, roads, rail, housing, schools, healthcare and energy infrastructure we need, supporting 72,000 jobs in 2024-25 alone – 50,000 of them outside Greater Brisbane.”

/Public Release. View in full here.