Priority industries, including manufacturing and aviation, will be boosted by a $90 million injection in Victoria over the next four years.
The Sydney Morning Herald has reported on the state budget, which is expected to be leaner ahead of next year’s election.
The investment will be used to persuade big companies to invest in Victoria and builds on a $116 million investment for the same purpose in the last year’s budget.
The fund has already helped Japanese gas appliance manufacturer Rinnai set up facilities in Melbourne, which has created 160 manufacturing jobs.
It has also attracted other major companies including GoPro and Chinese e-commerce giant Alibaba.
“We are carrying the nation when it comes to jobs growth,” said Victoria Premier Daniel Andrews. “Investments like these will ensure that the big companies keep coming to Victoria.”
Since December 2014, employment in Victoria has increased by about 184,000.