Extension for marine industry precinct funding

Thursday, 17 October 2019

A vital job-creating project, which has waited more than two years for approvals from the Queensland State Government, has received a funding extension from the Federal Liberal and Nationals Government.

Deputy Prime Minister and Minister for Infrastructure, Transport and Regional Development Michael McCormack and Federal Member for Hinkler Keith Pitt announced the marine industry precinct project at the Port of Bundaberg had been extended for another two years.

Mr Pitt said the reason the multi-million-dollar project had to receive an extension was due to considerable hold-ups from the Queensland State Labor Government.

“Pacific Tug always planned to invest in the Bundaberg region and with the Building Better Regions Fund fast-tracking the project, the State Labor Government needs to stop dragging its feet and get on board with the project,” Mr Pitt said.

“The $15 million shorefront development at the Port of Bundaberg will lay the foundations for a $35 million Marine Industry site at the port, providing local jobs and economic growth in the region.

“I want to thank Pacific Tug for its continued support of the Bundaberg region and commitment to seeing this project become a reality, despite some disappointing delays and setbacks.”

Mr McCormack said the Pacific Tug project was granted $6 million to be fast-tracked under the Building Better Regions Fund.

“This project is expected to bring almost more than 110 jobs to the region during construction and ongoing positions when it gets off the ground, which will be a terrific boost to the local economy,” Mr McCormack said.

“The Marine Industry site will provide integrated services for commercial vessels, positioning the region as a marine service hub on the east coast.”

In the 2019-20 Budget, the Coalition Government allocated $200m for Round Four of BBRF, bringing total funding for this program to $841 million.

BBRF provides grants of up to $10 million to local government or incorporated not-for-profit organisations for regional infrastructure and community initiatives in regional Australia. BBRF invests in community projects that create jobs, drive economic growth and build stronger regional and remote communities into the future.

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