Economic diversification and energy transition 

This Budget delivers $1.8 billion to diversify and decarbonise our economy, including investments in economic infrastructure like strategic industrial areas, ports and roads, and electricity and water infrastructure to unlock industry growth and position WA as a clean energy powerhouse.

This Budget advances the Cook Government’s economic agenda to expedite approvals reform and promote future industries, including science and innovation.

Strategic Industries Fund

  • $500 million fund to unlock WA’s strategic industrial areas and pave the way for WA to become a global leader in clean energy.

Critical minerals

  • $200 million for a new Critical Minerals Advanced Processing Common User Facility, subject to joint funding from the Commonwealth.

Economic infrastructure

  • $373 million investment in our port facilities across the State, including delivery of the Dampier Bulk Handling Facility, plus upgrades to maintain capacity and resilience.
  • $15 million for a business case to increase the supply of water to the Goldfields to meet future needs and industry growth.

Energy transition

  • $324 million to undertake extensive planning and procure long-lead transmission infrastructure for the State’s main electricity grid to unlock industry growth and connect more renewable energy.
  • $148 million to construct common user electricity network infrastructure in the North West Interconnected System in the Pilbara.

Economic reform

  • $36 million to continue to reform our approvals system and slash red tape, including establishing cross-government triage teams and accelerating the roll-out of Environment Online.

Science and innovation

  • $53 million to establish a Founders Factory accelerator in WA to support entrepreneurs and start-ups, as well as to continue STEM initiatives, support growth in the State’s space industry and for new exhibits at Scitech.

Tourism and events

  • $352 million boost for tourism including a major Outdoor Adventure Tourism package to upgrade tourism facilities around the State and support regional businesses.

Page reviewed 9 May 2024