The Queensland State Government has boosted the Industry Partnership Program (IPP) by a further $53.5 million, to support more new industries and jobs.
The announcement of the additional funding means the IPP will support more key projects that are focussed on growing Queensland’s priority industries, strengthening our local supply chains, encouraging collaboration between all levels of government and industry, and leveraging private sector investment.
Deputy Premier Steven Miles announced that this allocation 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
The IPP has been at the forefront of supporting projects since 2021 in industries including green hydrogen, bioeconomy – including biofuels and sustainable aviation fuel – battery industry development, renewables, material recovery, biomedical and the critical minerals supply chain.
“Through this new investment in the $415.5 million IPP, we will support emerging industries aligned to the Queensland new-industry development strategy, to keep growing in this state,” said Deputy Premier Miles.
The program has approved 18 projects with a value of around $1.1 billion and with the potential to create over 1,850 ongoing operational jobs.