Building projects demonstrating a “flow-on economic benefits to local communities” will be eligible for co-funding under a new Queensland Government initiative.
The $200 million Building Acceleration Fund, announced this week, will see funding provided as an interest-free loan where a proponent also co-invests 10 to 50 percent of the total infrastructure project cost.
Fund administrators will work with partnership with councils, property developers and industry to accelerate projects that unlock development, increase construction activity, and support long-term job creation.
Applications for funding for projects ready to commence construction within 12 months of approval will open soon.
According to the government, a similar program in 2017 delivered $3 of private sector investment for every $1 from the government, generating “hundreds of jobs”.