$100m plan to boost jobs, local business in CQ
IF Member for Flynn Ken O'Dowd has his way, the government will inject $100 million into Central Queensland's economy to help boost local businesses and stem the flow of job losses.
But this $100 million "innovation fund" hangs in the balance and is dependent on Prime Minister Malcolm Turnbull giving it the tick of approval.
The plan to secure the $100 million fund was taken on by local Liberal National Party Members Ken O'Dowd, Michelle Landry and George Christiensen, and with meagre returns for the region outlined in the recent federal budget, this could be the sweetener local businesses and workers have been crying out for.
It's expected the $100 million Bowen Basin Regional Innovation and Investment Fund will prop up businesses struggling to deal with and directly affected by the downturn in the mining and construction sectors.
The idea behind the fund is to provide stimulus packages for local businesses that are looking to improve efficiencies, source new markets, change how they run their business and possibly change what products and services they offer.
"While the coal industry is still operating, the construction boom is certainly over," Mr O'Dowd said.
"We have some great innovators in Central Queensland and I know that with a little help from government, business in the region will recover and be stronger than ever," Mr O'Dowd said.