"This initiative is not just about keeping Australia safe," Scott Morrisson said of the Federal Government's cyber security strategy in his budget speech this evening. "It is an important part of our economic plan for jobs and growth."
$195 million has been set aside, building on the $38 million announced in the National Innovation and Science Agenda.
"An industry-led Cyber Security Growth Centre will create opportunities for businesses to grow and strengthen Australia's cyber security industry," the budget reads.
The program was previously announced by PM Malcolm Turnbull, who described it as an "offensive" strategy tipped to employ over 100 IT professionals.
The program will run for four years, during which so-called "safe havens" for attackers are to be targeted and shut down before they strike, with plans to work with allied countries a big part of the initiative.
Public awareness about cyber security, and a de-centralisation of Australia's current cyber security agencies from Canberra and into the cities to facilitate faster and simpler consultations with businesses are key components of the program.