A new $650 million Jobs Fund announced by the Rudd Government today will support local jobs, build skills and improve facilities in local communities.
The new Jobs Fund is part of the Rudd Government's Jobs and Training Compact with Australians who have been hit hardest by the global recession, and builds on the Rudd Government's $42 billion Nation Building Economic Stimulus Plan.
The Government is acting decisively with targeted investment to support Australian jobs and invest in our future long term economic growth.
The Jobs Fund includes three streams:
* $300 million for Local Jobs to invest in community projects of up to $2 million that help protect the environment or promote sustainability and will include $60 million for community heritage projects, and $40 million for commuter bike paths.
* $200 million to Get Communities Working which will invest in local council and not-for-profit projects of up to $2 million to upgrade vital community facilities and build community capacity.
* $150 million for Infrastructure Employment Projects to be initiated by the Australian Government for the construction of local infrastructure that will create immediate jobs in communities affected by the global economic downturn.
Projects will encourage local government, community organisations, employers and employment service providers to work together to give people employment or training opportunities in their local area.
They will also ensure charitable institutions, unable to secure philanthropic support during the economic downturn, are supported to meet growing need for assistance within the community.
Projects in regions and communities with higher unemployment or facing large numbers of jobs losses due to the global recession will be given priority consideration.
Most projects will commence from 1 July 2009 with submissions sought from May. Some heritage projects in the Local Jobs stream will commence sooner.
The Jobs Fund includes the commitments made by the Government as part of the Nation Building Economic Stimulus Plan.
The $300 million Local Jobs and the $200 million Get Communities Working programs have been developed with Senator Bob Brown and Senator Steve Fielding.
The new fund builds on other Rudd Government initiatives to create jobs and training opportunities and build community infrastructure.
The $800 million Regional and Local Community Infrastructure Program will support national productivity and community well-being and local governments to stimulate growth and economic activity across Australia.
The $41 million Innovation Fund will encourage innovative projects to connect disadvantaged job seekers to training and employment.
The Government's Jobs and Training Compact aims to support retrenched workers, young people and local communities to get back to work or learn the skills required for future jobs.