Google has announced that it will invest $740m in Australia over the next five years.
It is the US technology giant’s largest investment in the country to date.
Google says the money will be used to build a research hub, increase its cloud computing capacity and fund partnerships with local organisations.
The move – named the Digital Future Initiative – is expected to directly create 6,000 jobs and support 28,000 overall.
Australian Prime Minister Scott Morrison says the decision by Google has major benefits for Australian businesses as they engage with the economic recovery before them.
The investment will see the company partnering with local organisations, including Australia’s science agency the Commonwealth Scientific and Industrial Research Organisation (CSIRO).
Joshua Kennedy-White of cyber investment company DivisionX Global called Google’s announcement a “huge win” for Australian technology.
