QUEENSLAND'S $405M BID TO ESTABLISH INNOVATION LEADER

INNOVATION and job creation was at the forefront of the Queensland Government's budget today, with Premier Annastacia Palaszczuk pledging $405 million to advancing Queensland's new economy.

Premier Palaszczuk increased investment in Advance Queensland to $405 million and has introduced 13 new initiatives that are set to ignite the State's economic growth and diversity.

"I'm determined to make Queensland Australia's innovation leader," says Premier Palaszczuk.

"We have turned our $180 million Advance Queensland Innovation and jobs plan into a $405 million whole-of-government innovation agenda, to help create the jobs of the future.

"Advance Queensland is key to our state's economic diversity. We are backing the innovators startups, small business, school kids, farmers, scientists, researchers, tradespeople, engineers, doctors, teachers because that will create a new era of opportunity for Queenslanders."

The Queensland Government's accelerated Advance Queensland initiative will include a broader focus on small business and tourism.

$22.7 million has been dedicated to the Advancing Small Business Queensland Strategy and $10 million will be invested into developing new platform technologies in areas including drones, big data and internet of things.

Meanwhile, $6 million will be invested in reginal innovation hubs, $10 million will be put towards the Cairns Innovation Centre and $33.5 million will be put towards a tourism package, to help connect with Asia and grow jobs in regional Queensland.

The Premier also says a key to the whole-of-government package is to also attract new investment in Queensland industries.

"The $40 million Advance Queensland Industry Attraction Fund will be used to attract innovative, job-creating industries to Queensland, in the same way we have already attracted Southern Oil to Gladstone," she says.

In addition to the Industry Attraction fund, the government will also invest to build future generations by investing in health and education innovation.

"The Integrated Healthcare Fund will support hospitals in using new ideas to improve care at the same time as improving efficiency in health service delivery," says Premier Palaszczuk.

"In terms of education, the Global Schools initiative will expand studies in Asian languages, new technology teaching programs and enable schools to form partnerships across the globe and Schools of the Future will encourage students to study science, technology, engineering and maths."