(QldGovSpin) Cairns set to become world leader in tropical research
Minister for State Development and Innovation Tony McGrady today announced the first payment of $1.8 million to establish the Australian Tropical Forest Institute at James Cook University in Cairns.
State Development & Innovation, Tony McGrady
Speaking at the opening of Club Biodiversity, a two-day meeting held as part of AusBiotech 2004, the nation's biggest biotechnology conference, Mr McGrady said the centre would become a global hub for tropical research and development.
"This Institute will attract international researchers to Cairns to work with Queensland's world-class scientists and develop new, sustainable industries focussed on tropical regions," Mr McGrady said.
"The State Government will provide a total of $7.8 million to help establish this innovative research facility in North-Queensland.
"Today's payment is the first in a series of four payments to be made by mid-2006."
"This centre will create important new export markets for North-Queensland and more jobs for Cairns."
Mr McGrady said Queenslanders would benefit from any research successfully commercialised by the Australian Tropical Forest Institute.
"The State Government has an agreement with James Cook University that entitles Queensland taxpayers to receive a 50 per cent cut of any profits from any successful research commercialised in the future."
"This State Government investment is great news because Cairns is a winner, Queensland taxpayers are winners and the environment is a winner."
Construction on the Institute is due to start next year.
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