New Queensland strategy to bolster new industries critical to net zero transition

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Kidston Wind Project. Image credit: Genex Power | Queensland Government

The Palaszczuk Government rolled out the new Queensland New Industry Strategy (QNIDS) today in an effort to foster industries critical to the world’s net zero transition, such as renewable energy manufacturing.  

Announced by Deputy Premier Steven Miles during his address to the Committee for Economic Development of Australia, QNIDS will help businesses tap into manufacturing opportunities to build the infrastructure and products the world needs to achieve a net zero future. 

“This marks our commitment to making Queensland the state of opportunity in industries that will be in demand as we shift to a decarbonised global economy,” Miles said.

“There is an immediate opportunity to expand our footprint in global markets of high-value supply chains involved in this transition – and we’re seizing it,” the deputy premier added. 

Aside from creating more business opportunities in the region, the strategy seeks to support thousands of good jobs and contribute to the state’s renewable energy targets. 

QNIDS focuses on six target areas: renewable energy manufacturing and infrastructure; critical minerals processing, manufacturing, and product development; battery industry development; green hydrogen; the circular economy, including resource recovery; and the bioeconomy, including biofuels and sustainable aviation fuel. 

A state-wide Local Economic Opportunities Network will be established as part of the strategy, enabling communities in the state to identify opportunities on the ground. 

The Palaszczuk Government is also deploying a $5.84 billion Queensland Jobs Fund and tapping into the catalyst Regional Economic Futures Fund in a bid to deliver initiatives aimed at helping economic growth, especially in communities impacted by the transition to a low-emissions economy. 

“Our Queensland Energy and Jobs Plan sets a strong foundation for a clean energy future that promotes innovation, more jobs, sustainable communities and economic growth,” Miles said. 

“With this New Industry Development Strategy, we are taking the next steps to strengthen Queensland’s capabilities to manufacture the equipment needed to make the shift to decarbonisation and build whole new industries to support that transition.”