Queensland State Budget 2016-17
News ID: 17681
The Queensland State Budget for 2016-17 was handed down on 14 June 2016 by Treasurer Curtis Pitt. This year's budget is focused on advancing Queensland's economy through job-creating innovation, investment and infrastructure. Here is a quick summary of business grants below:
An additional investment of $225 million to accelerate the Government’s Advance Queensland initiative which will further invest in innovation, skills, education and business development to diversify the Queensland economy and deliver knowledge based jobs now and into the future. This will take the Government’s total investment commitment to Advance Queensland to $405 million. This includes the $40 million Industry Attraction Fund which will help to establish or expand new and existing businesses in Queensland.
Advancing Small Business Queensland Strategy
The Advancing Small Business Queensland Strategy will inject new funding of $22.7 million to kickstart local small businesses - as part of a $44.5 million commitment to establish an Office of Small Business and the delivery of the Business and Industry Portal, this includes:
- Building Digital Capability Grants: Grants of up to $10,000, matched by recipients, to help small businesses enter the digital economy or build their digital capability.
- Entrepreneurs of Tomorrow Program: Provides grants of up to $5,000, matched by recipients, for new homebased start-ups.
Back to Work – Regional Employment Package
This year's budget will see the establishment of a two-year, $100 million package to give employers the confidence to take on new staff in regional Queensland, which include:
- $90 million over two years to assist up to 8,000 eligible jobseekers across regional Queensland, outside of South East Queensland, including:
a) Employer support payments of up to $10,000 to hire and keep a regional Queenslander employed for 12 months or more.
b) Eligible employees will also have access to job readiness support to help them start their new job. This may include training, purchasing new equipment and uniforms or gaining or renewing trade licenses.
- $10 million for the Certificate 3 Guarantee Boost program.
Skilling Queenslanders for Work
The Government is investing $60 million this year to deliver the Government's commitment to Skilling Queenslanders for Work. This is part of the Government’s commitment of $240 million over four years, to deliver up to 32,000 placements.
Building Our Regions
Increased funding of over $175 million over four years, in addition to the $200 million new funding allocated in the 2015-16 Budget. This increased allocation includes $90 million over three years for the Transport Infrastructure Development Scheme.
Tourism and Events Queensland (TEQ)
Tourism and Events Queensland Tourism guarantee $49.9 million over two years to continue to promote Queensland destinations and drive tourism growth.
Community Sustainability Action Grants
$12 million over three years to local environment, wildlife and heritage conservation groups to support increased community engagement and a more active volunteer base.
Events Sponsorship Fund
The Government is providing additional funding of $4 million over two years for the Events Sponsorship Fund. Events and initiatives to be supported through sponsorships will enhance current Government priorities, contribute to the Queensland economy, support job creation and foster quality innovation.
The Budget Report can be found here.
||14 June 2016