Applications are now open for The Regional Job Creation Fund that supports businesses to establish or expand in regional NSW. The NSW Government is supporting existing regional businesses in NSW to grow and encouraging interstate and overseas businesses to invest in regional NSW.
It has all the key ingredients for businesses to thrive and has direct road and rail access to major domestic markets and highly efficient transport linkages to some of the world’s fastest-growing markets across Asia and beyond.
The objective of the Regional Job Creation Fund is to support economic recovery and resilience by activating, bringing forward or attracting investment in regional NSW by co-funding business projects that create at least five new jobs.
Eligible grant amounts
- The minimum grant amount per application is $100,000. The maximum grant amount per application is $10,000,000. All grants are GST exclusive.
- Each application requires a cash co-contribution of 50 per cent of the total project cost. Contributions of less than 50 per cent or that include in-kind contributions may be considered in extenuating circumstances.
- Be based in regional NSW. Projects based in Greater Sydney, Newcastle or Wollongong Local Government Areas are not eligible
- Create employment outcomes in regional NSW that are sustainable without additional NSW Government investment beyond the agreed grant
- Demonstrate the project would not occur in regional NSW at all or in the same timeframe without government investment
- Align with existing NSW Government policies and strategies, including the 20-Year Economic Vision for Regional NSW and the relevant Regional Economic Development Strategy. The project must not contradict or inhibit any other identified NSW Government policies, priorities, strategies or projects
- Have a minimum cash co-contribution of 50 per cent of the total project cost. Co-contributions of less than 50 per cent or that include in-kind contributions may be considered in extenuating circumstances
- Be able to be completed by June 2022. Employment outcomes may be achieved over a three-year period from the signing of the funding deed but must be in place for at least six continuous months before the three-year period ends.
Examples of eligible projects could include the:
- Replacement, upgrade or adaptation of plant and equipment at an existing regional NSW business;
- Establishment of an additional production line for an existing regional NSW business;
- On shoring of activity currently done overseas to a regional NSW location;
- Development of new regional tourism experiences and visitor attractions;
- Relocation of a business operation from out of state to regional NSW.
- To be eligible for funding, applicants must be a business or co-operative:
- Operating in an ‘engine’ industry, enabling industry or emerging engine industry as described in the relevant Regional Economic Development Strategy; or
- Aligned with government strategies including the 20-Year Economic Vision for Regional NSW;
- Applicants can be based internationally, interstate or in either metropolitan or regional NSW.
- Have an Australian Business Number (ABN) and be one of the following:
- A company incorporated in Australia;
- A company incorporated by guarantee;
- An incorporated trustee on behalf of a trust;
- An incorporated association or co-operative;
- A partnership;
- A sole trader;
- An Aboriginal and/or Torres Strait Islander Corporation registered under the Corporations (Aboriginal and /or Torres Strait Islander) Act 2006.
- Be registered for GST;
- Have the demonstrated skills and capacity to deliver the project;
- Be financially viable and able to demonstrate that they are likely to remain so over the duration of the project;
- Have at least $20 million public liability insurance.
For more information, visit https://bit.ly/2U4O4Q0