Treasurer Cameron Dick San Damiano College site, Yarrabilba, to announce Building Acceleration Fund

Announcement: Cameron Dick and Kate Jones with Linus Power, San Damiano College principal Peter Edwards and deputy principal Paul Mead.
Announcement: Cameron Dick and Kate Jones with Linus Power, San Damiano College principal Peter Edwards and deputy principal Paul Mead.

The state government has unveiled a $200 million plan it says will get Queensland jobs back on track.

Treasurer and Infrastructure and Planning Minister Cameron Dick Minister said the Building Acceleration Fund would partner with councils, property developers and industry to accelerate projects that bring jobs to the area.

He was at Yarrabilba's San Damiano College site on Sunday with State Development Minister Kate Jones to launch the program, along with Logan MP Linus Power and Lendlease representatives.

"Our plan to Unite and Recover for Queensland jobs is focused on working with businesses large and small to boost private sector investment to speed our economic recovery," Mr Dick said.

"Funding catalytic infrastructure creates jobs in the short term and unlocks private investment in the long term.

"Post COVID-19 infrastructure investment will play a critical role in facilitating economic recovery."

The fund will be available to developers, councils and industry for projects which will attract private-sector investment and stimulate COVID-19 recovery.

"A similar program in 2017 delivered $3 of private sector investment for every $1 from the government and delivered hundreds of jobs," Mr Dick said.

Ms Jones said funding applications would open soon.for projects ready to start within 12 months of approval.

They must demonstrate substantial flow-on economic benefits to communities.

"Co-investment funding will be provided for successful projects as an interest-free loan so they can start construction now and repay over 15 years," she said.

"The proponent must also co-invest 10 to 50 percent of the total infrastructure project cost, depending on the scale of the project."

"The government has a clear strategy to lead Queensland through this pandemic. Infrastructure is crucial to this plan."

Logan MP Linus Power said the fund would provide a vital kick-start for employment throughout Logan.

"We know this type of investment is vital to supporting local jobs through the post-COVID recovery," Mr Power said.

"If people are earning locally, they are spending locally, supporting small businesses right across the community."

Read more local news here