Bush Summit: $80m cash splash to lure business to regional Qld

Businesses are set to be lured to the bush under a new $80m state government cash splash designed to boost regional Queensland.

• Grazier’s modern challenge

Businesses are set to be lured to the bush under a new $80m state government cash splash designed to boost regional Queensland.

Premier Annastacia Palaszczuk will announce the package on Friday at the Courier-Mail’s inaugural Queensland Bush Summit in Rockhampton, where key decision makers and industry leaders will meet to discuss and debate the biggest issues facing the regions.

The package includes a new $50m Backing Business in the Bush Fund to help businesses “expand, relocate to the regions, and adapt as Queensland competes for export markets”.

Premier Annastacia Palaszczuk. Picture: NCA NewsWIRE / John Gass

The cash is specifically targeted at small to medium businesses, with a focus on traditional industries such as agriculture, forestry, fishing, mining, manufacturing and food processing. It is hoped the funds will help businesses become more productive, increase private sector investment and ensure industries can “adapt to economic change” by increasing employment and training opportunities.

Queensland is Australia’s most decentralised mainland state, with just over half of the population living outside the capital city compared to one-third in other jurisdictions.

“These new funds will encourage growth in the regions, help bring in new private investment, bolster existing businesses, and help future-proof the workforce,” Ms Palaszczuk said. “Our most recent budget provides a record $89bn investment in roads, schools and hospitals – 65 per cent of which is being spent in regional Queensland this year.”

It is understood the Backing Business in the Bush Fund will be similar to a state government grants program that ran from 2017-21 called the Jobs and Regional Growth Fund).

The $175m program provided one-off financial assistance from $100,000 to $10m in either direct grants or relief of state charges to promote growth and job creation.

The other $30m in new cash will go toward a Backing Bush Communities Fund, which includes $10m for local governments outside Queensland to fund community projects that benefit residents and tourists.

The push is on to get people moving to places like Quilpie, in regional Queensland.

Councils outside the South East will be able to apply for grants of $50,000 to put toward improving accessibility and amenity of community infrastructure like parks, recreation and water supply, or for events such as music trails and festivals. The other $20m will go toward agriculture and the biosecurity sector.

It is understood interested businesses and local governments will be able to register their interest for a slice of the funds with Queensland Treasury from Friday.

The Courier-Mail’s Bush Summit will include addresses from state Opposition Leader David Crisafulli, Nationals-aligned senator Matt Canavan, and state Health Minister Shannon Fentiman.

Hancock Prospecting boss and mining magnate Gina Reinhart will deliver the keynote speech.

Key themes include environment and jobs, trade and tourism, and liveability.