Queensland will accelerate vaccine development and manufacturing through the first groundbreaking deal under the state’s new $ 1.8 billion job fund.
The state government has announced that the Translational Research Institute (TRI), based at Princess Alexandra Hospital, will be the first organization to receive a grant through the flagship Queensland Jobs Fund.
The medical research institute is receiving $ 20 million to develop vaccines that Treasurer Cameron Dick anticipated would eventually be exported around the world.
“If the pandemic taught us anything, it’s that we need to make more things in Queensland,” he said.
“That includes making more medical equipment, personal protective equipment and vaccines right here in our back yard.”
A Transitional Manufacturing Institute will be established to complement the TRI, with the $ 20 million grant to help retain startups and drive product commercialization.
State Development Secretary Steven Miles said the investment could turn Queensland into a vaccine manufacturing center for the nation.
“I want Queensland to lead the country in vaccine research, development and manufacturing, and I’ve spoken to leading biomedical experts about how to do that,” he said.
The $ 1.84 billion Queensland Jobs Fund includes a new $ 350 million industrial partnership program to support emerging industries such as renewable energy, resource recovery and manufacturing.
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