- New $180.6 million Sovereign Industry Development Fund set to accelerate the growth of the Defence, Biomedical and Biofuels industries and build sovereign capability in Queensland.
- The new Fund will unlock new economic opportunities across the State, drive investment and support secure, well-paid jobs across Queensland.
- Applications now open for investment-ready projects.
The Crisafulli Government is delivering on its flagship initiative to drive investment, create secure jobs, and strengthen the State's sovereign capabilities, officially opening applications for the $180.6 million Sovereign Industry Development Fund.
The Crisafulli Government's newly established Sovereign Industry Development Fund, announced in the recent Budget 2025-26, will unlock new economic opportunities across the State.
Unlike the former Labor Government's haphazard approach towards 11 priority areas, including non-viable industries, the Crisafulli Government's Sovereign Industry Development Fund will help build sovereign industry capability, strengthen our regions, and leverage Queensland's strengths in the re-focused State Development areas of Defence, Biomedical and Biofuels.
The Sovereign Industry Development Fund forms part of the Crisafulli Government's plan to revitalise Queensland's industrial base, attract private investment, and secure long-term economic growth.
It will initially focus on Strategic and Catalytic Investment Partnerships and is looking to support projects that accelerate priority industry development by creating, or significantly expanding, a sovereign manufacturing or service capability in Queensland.
Applications are open for feasible, investment-ready projects to develop a new manufacturing or service capability in Queensland, including common-use infrastructure, those that accelerate industry development and have a wider impact across the industry and Queensland.
Deputy Premier and Minister for State Development, Infrastructure and Planning, Jarrod Bleijie, said the Fund would position Queensland as a national leader in industries critical to future prosperity and security.
"Queensland is open for business, and we're ready to work with industry on strategic and catalytic partnerships that will accelerate development in our priority industries and create secure, well-paid jobs," Deputy Premier Bleijie said. "From biofuels to cutting-edge biomedical technologies and advanced defence capabilities, the Sovereign Industry Development Fund plays on Queensland's strengths, and is a call to action for industry to partner with Government to deliver for Queensland.
"We're calling on industry to bring forward bold ideas that will secure Queensland's place in the global market."
