$40 MILLION INFRASTRUCTURE BOOST TO PAY COMMUNITY DIVIDENDS
The Queensland Government has committed to the development of the $40 million Growth Area and Regional Infrastructure Investment Fund. The Fund was developed as part of the Queensland Budget 2018-19 which will support economic growth throughout Queensland’s regional centres and emerging urban communities.
The program will initially focus on pilot areas that are experiencing or responding to rapid growth and aims to support the development of infrastructure for Queenslanders in outer urban and regional areas. The Funding program will occur over two years and aim to accelerate new or upgrade existing infrastructure projects.
Queensland Government Departments will be invited to nominate specific projects for investment opportunities through the fund. The Departments will need to show how the infrastructure would address the needs of growing communities with infrastructure essential to support their continued growth. The assessment process will prioritise nominations to ensure the best value from investment.
The Growth Area and Regional Infrastructure Investment Fund will aim to support real productivity increases by working in sequence with the implementation of the State Infrastructure Plan and regional plans such as ShapingSEQ.
In addition, the Fund complements the $30 million ‘Maturing the Infrastructure Investment Pipeline (MIIP) Program.’ The Queensland Government maintains that the MIIP Pipeline program intends to develop a credible project pipeline by enabling projects to be matured from ‘good ideas’ into solid proposals. Further, the program, also offers support for local governments across the entire infrastructure development life cycle. The fund will also build on the $180 million Significant Regional Infrastructure Projects Program which delivers infrastructure in key regional centres in response to community needs.
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