Diversifying the Economy, Future Jobs
The 2023-24 Budget includes $463 million in new economic infrastructure and diversification initiatives.
This brings the McGowan Government’s investment in initiatives to drive economic diversification to more than $3.8 billion in this term of Government.
We are continuing our investment to set up our State for the long-term and create the jobs of the future, supporting ongoing and new jobs, and ensuring WA is well positioned as the destination of choice for international education, tourism, business investment and trade.
At a glance:
- $294 million of additional investment in road, port and electricity infrastructure that boosts the future economic capacity of our State.
- $40 million Sustainable Geoscience Investments package to accelerate critical minerals discoveries, to help meet demand for minerals used in new battery technologies.
- $35 million top-up of the Industrial Land Development Fund, prioritised towards planning and de-constraining initiatives to attract investment to Pilbara strategic industrial areas.
- $28 million to support the State’s invest and trade initiatives, including establishing a new Invest and Trade WA Hub in Texas to enhance our relationship with the Americas.
- $15 million of additional funding for tourism initiatives, including attracting additional major and business events to Perth.
- $13 million to continue to attract international students back to Perth, including marketing activities and support for accommodation and English-language training.