A key portion of the initiatives include creation of a resources precinct at Tonsley Park, which will incorporate a $32.2 million drill core library.

A further $4 million will be spent on the Mining and Petroleum Services Centre of Excellence, bringing total funding over the forward estimates to $10 million.

Another $4 million over four years will be provided to expand and modernise the state’s plan for accelerated exploration.

“Our investment in our home-grown PACE initiative has already provided an increase in state mining production of $2.4 billion since 2004 and positioned SA as a leader in stimulating exploration,” Koutsantonis said.

“This additional funding will strengthen PACE’s role of bringing forward new mineral and energy discoveries – which means more investment and jobs in SA.”

Many of the initiatives will be directed to the oil and gas sector, with $4 million earmarked for an airstrip at Innamincka in conjunction with industry to better service energy exploration in the state’s far north.

Royalty payments will also be deferred for unconventional gas to accelerate investment in the sector.

“In the next 15 years, an extra 35,000 jobs are projected to be created by mineral and energy companies operating in South Australia,” Koutsantonis said.

“We are with the resources sector every step of the way because we recognise its critical role in generating jobs and investment.”

Along with the resource-specific funding, the budget also includes broader initiatives to boost the business community.

The government has recommitted to providing payroll tax concessions in 2014-15 to help small businesses, and is also reforming workers compensation in a bid to save registered companies around $180 million a year.

A one-off $10 million jobs accelerator fund will support job creation in regional areas, and $63 million will be invested over three years to provide an extra 20,000 training places for industries where workers are in demand.