The Queensland State Government has announced $200 million worth of investment into a new infrastructure fast-tracking scheme which will help the state bounce back from the economic effects of COVID-19.
The Building Acceleration Fund aims to accelerate projects which unlock development, increase construction activity and create long-term jobs.
Queensland Treasurer, Cameron Dick, said: “Post COVID-19 infrastructure investment will play a critical role in facilitating economic recovery.”
“We know the key to recover and increasing government revenue is getting Queenslanders working again, and catalytic programs like the Building Acceleration Fund are proven to deliver results.
State Development Minister Kate Jones said that the Building Acceleration Fund will work together with councils, property developers and industry to hasten projects.
We’re putting the pedal to the metal to fast track Queensland’s economic recovery.Kate Jones – State Development Minister
“The government has a clear strategy to lead Queensland through this pandemic. Infrastructure is crucial to this plan,” Ms Jones said.
The Building Acceleration Fund will soon be open for projects that demonstrate significant economic benefits to the community and are ready to begin within 12 months of funding approval.
“Big projects that will create thousands of jobs over the next five years – that’s what we’re targeting with today’s cash injection,” said Ms Jones.
Lendlease Queensland Head of Development, Guy Gibson said: “Today’s announcement is an important milestone in ensuring that these major projects will continue to be well planned and appropriately serviced.”