The Coalition government has committed $5 million to upgrade the Central Queensland Livestock Exchange (CQLX) in Rockhampton.
The upgrade will add a roof to the facility, increasing safety and animal welfare, as well as creating efficiencies projected to deliver $13.25 million of local economic benefits each year from increased sales.
Deputy Prime Minister Barnaby Joyce made the announcement at the facility on Wednesday afternoon.
"Rockhampton is known as the beef capital of Australia and investing in the infrastructure we need to maximise efficiencies will put more food on the table for Australians as well as bringing in export dollars," the Deputy Prime Minister said.
"The Central Queensland Livestock Exchange is already the third-largest saleyard complex in Queensland, and the largest stud selling facility in Australia.
"Improving its facilities will only facilitate more growth."
Capricornia MP Michelle Landry said the Coalition government is continuing to support a critical complex that delivers significant economic benefits for Central Queensland.
"Central Queensland has some of the best beef on the planet. The CQLX ranks as one of the major selling centres in Australia and is regarded as one of the best studs selling facilities in the country," Ms Landry said.
"(This) announcement proves that the Coalition government is continuing to back important infrastructure that our agricultural industry needs."
Northern Regional Livestock Exchange (RLX) development manager Gavin Tickle said the $5 million will complete stage two of the selling centre's ongoing upgrades.
He said the 19,588 square metre roofing would take the premium selling facility - which hosts weekly Prime and Store Sales and largescale seedstock auctions - to a new level.
"All the selling and receiving pens will be undercover, improving multiple aspects of our business including animal welfare, crowd comfort and workplace health and safety", Mr Tickle said.
"Additionally, it will help to grow the sustainability of the complex given its potential to capture rainwater."
Mr Tickle said the roofing would also pave way for the establishment of soft flooring, which has already been rolled out across other undercover RLX sites and created an average minimum $17 per head benefit to vendors.
"Establishing a roof and soft flooring creates a comfortable, quiet environment for cattle to relax and camp during their time at the selling centre and has been proven at our other sites to reduce shrinkage," he said.
The Coalition government is also committing $400 million to seal more than 450 kilometres of Queensland roads and contribute to upgrading heavy vehicle corridors critical to the transport of cattle and beef.
Deputy Prime Minister Barnaby Joyce said the Central Queensland region was home to one quarter of Australia's beef herd with economic activity and jobs covering all aspects of the beef production system.
"It is essential that we put the infrastructure in place to support this massive industry," the Deputy Prime Minister said.
"Central Queensland is incredibly important to the success of our nation's beef industry and sealing these roads will unlock greater economic opportunities for the region."
$300 million will be provided to seal 457 kilometres of partially unsealed roads, with the remaining $100 million to extend heavy vehicle corridors along the Dawson, Leichhardt and Burnett Highways.
The Coalition Government will fund up to 80 per cent of the total project costs in partnership with the Queensland government and local governments.
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