The Queensland Government has increased the successful Industry Partnership Program (IPP) by a further $53.5 million.
The move brings the total investment to $415.5 million with the aim of supporting more new industries and jobs, strengthening local supply chains and encouraging collaboration between all levels of government and industry.
Deputy Premier Steven Miles announced that the next allocation of IPP funding is officially open and will focus on the following key priority areas:
- critical minerals processing, manufacturing and product development
- renewable energy manufacturing
- battery industry development
- green hydrogen
- bioeconomy including biofuels and sustainable aviation fuel
- circular economy including resource recovery and recycling
- biomedical
“The $53.5 million boost to the Industry Partnership Program creates an even bigger and better resource to attract and grow new industries and high value jobs, bringing new skills and capabilities to Queensland,” Miles said.
“The Queensland Government will continue to target projects that will form essential new links in industry supply chains, creating jobs throughout Queensland and strengthening our economy.”
The program has approved 18 projects so far including the Fortescue Future Industries’ green hydrogen facility near Gladstone and Vecco Group’s Townsville vanadium battery electrolyte manufacturing facility.
Since 2021, the IPP has been at the forefront of supporting projects in industries as part of the Queensland Jobs Fund, which aims to boost the state’s industry footprint, create jobs and strengthen the economy.
“The success is clear, with the program approving more than $1.1 billion worth of projects and enabling over 1850 ongoing jobs for Queenslanders,” Miles said.
“The Queensland Government will continue to target projects that will form essential new links in industry supply chains, creating jobs throughout Queensland and strengthening our economy.”