The Queensland State Budget for 2017-18 was handed down on 13 June 2017 by Treasurer Curtis Pitt. Here is a quick summary of business grants below:
Increased investment in the Advance Queensland initiative takes the Palaszczuk Government’s total commitment to $420 million:
– Additional funding of $15 million is being provided over four years to develop 10-year priority industry roadmaps and action plans to support emerging and priority sectors.
– Over $10.9 million is being invested in Queensland businesses from the Business Development Fund, which is encouraging venture capital investment in Queensland.
– A further $10 million is being redirected into the successful Ignite Ideas Fund, with almost $16.5 million invested to date in 118 innovative small firms.
– The Industry Attraction Fund is encouraging businesses to relocate or establish new projects in Queensland and has attracted businesses involved in industry sectors such as biofuels, advanced manufacturing and robotics.
Back to Work Program
The Palaszczuk Government has committed a further $50 million to continue the availability of the existing Back to Work program in regional Queensland and $27.5 million to introduce support payments to South East Queensland to employers who take on a long-term or young unemployed jobseeker.
Works for Queensland
An additional funding of $200 million will be provided over two years for the Works for Queensland program, supporting local governments outside South East Queensland that are facing unemployment issues to undertake job-creating maintenance and minor infrastructure works.
Apprentice and Trainee Rebate for Payroll Tax
The Government is continuing the initiative of raising the payroll tax rebate for apprentices and trainees from 25% to 50%.
An additional $47 million has been committed in 2020-21 to continue to deliver the $100 million per annum funding guarantee for Tourism and Events Queensland.
An additional $916,000 has been committed in 2017-18 ecoBiz program which supports Queensland businesses to drive costs down and reduce their carbon footprint.
– $17.5 million over four years for an Arts Infrastructure Investment Fund to prioritise infrastructure projects in state-owned arts and cultural facilities.
– $6.5 million over four years for Indigenous and regional arts initiatives.
– $2.1 million for an arts incubator space for start-up Indigenous performance companies and to commission new dance performances at the Cairns Centre of Contemporary Arts and within Indigenous communities.
The budget papers can be found here.