Opposition Leader Tony Abbott has promised $45 million for the Generation One scheme, designed to help train and employ Indigenous Australians.
Mr Abbott made the announcement during a visit to Western Australia's Pilbara region, where he held a media conference with mining boss Andrew Forrest.
News that makes sense
Your trusted source for staying up-to-date with the world around you. Get free daily news updates and analysis, straight to your inbox.
The Generation One scheme was created by Mr Forrest to offer training to Indigenous people and give them a guaranteed work at the end.
Mr Abbott says he believes this funding boost can change people's lives with guarenteed jobs for up to 5,000 people.
"I'm confident this has the potential to totally transform the provision of Indigenous employment services over time," Mr Abbott says.
"And I think has the potential to transform the provision of employment services to long term unemployed people more generally but we'll get cracking with this 45 million for the five thousand places from day one."
Watch: PM announces funding boost for car industry
