The Australian federal government will earmark $50 million to help set up a dedicated space agency in next week’s budget, ABC News said on Thursday. The new agency, which will also be funded by the private sector, will help coordinate existing efforts in the aeronautical industry. Next Tuesday, the government is expected to unveil “seed funding” to finally establish a dedicated Australian space agency, with the aim of generating thousands of jobs in the future, according to the report. The location of the agency’s headquarters has yet to be decided. However, earlier this year, South Australia said it planned to use its defense industry to push for it to be based in the state.