Queensland opens $100M funding Program for Waste and Recycling

Queensland stands on the threshold of a new future as a leading resource recovery economy. With the the Waste Reduction and Recycling (Waste Levy) and Other Legislation Amendment Bill 2018 as the first step, the state government is showing how serious it is in the shape of serious funding.

To help communities and businesses make the most of the levy, the QLD government is making funds worth $100 million available over the next three years in the shape of the Resource Recovery Industry Development Program (RRIDP). By doing this, it hopes the state will hit the ground running when the levy takes effect in March 2019. We at Best Price Skip Bins fully support all these exciting developments.

Revenue Streams

The QLD Department of State Development, Manufacturing, Infrastructure and Planning has secured a budget which it is to divide into three revenue streams. Between them, it is hoped these funding streams will help businesses and local authorities make plans quickly.

The first stream is for up to $5 million per individual recycling scheme. This funding is in the form of dollar for dollar capital grants, to encourage investment in resource recovery infrastructure. It is a tangible sign for authorities that avoiding landfill is the future of waste management.

The second stream is less tangible but is designed to offer financial incentives for ambitious waste management projects which don’t use landfill. These schemes will be ones which can utilise new funding easily to expand their operation.

The final funding stream is aimed at long term, forward looking resource recovery schemes. The money is to be used for detailed investigation into feasibility and design studies. It will also be used for the necessary intensive capital investment.

Economic Sense

While $100 million might seem a lot of money to spend on resource recovery based waste management, the state government sees it as a sound investment. In fact, it represents QLD’s stated aim of becoming a world leader in the field.

The Department of State views resource recovery as a way of creating jobs and investment in QLD. As a baseline, three times as many jobs are needed for recycling schemes than on landfill sites. Not only this, investment in clean waste management shows investors that legislators are serious about planning for the future. This itself is a virtuous circle which encourages interest and investment in further facilities and schemes.

By announcing this funding, the Government is sending out signals to consortia that it is open to ideas. With this as a starting point, it is hoped long term investment will be encouraged. Once schemes are seen to work, be profitable and sustainable, businesses and communities alike will be fully engaged.

The long term aim of the state Government is to make QLD a zero net waste producer. While this may seem ambitious, the RRIDP is a $100 statement of intent that the state means business.

More Information

We at Best Price Skip Bins in Brisbane look forward to helping the Program succeed. For more information on the scheme, visit https://wastemanagementreview.com.au/queensland-opens-100m-funding-program