Regional Job Creation Fund (Australia)

Deadline: 14-Mar-22

The New South Wales (NSW) Government has announced Regional Job Creation Fund to support businesses to establish or expand in regional NSW.

Objective

The Regional Job Creation Fund aims to support economic recovery and resilience in regional NSW by activating, bringing forward, or attracting investment through co-funded business projects that create at least five sustainable new jobs.

Funding Information

• The minimum grant amount per application is $100,000.
• The maximum grant amount per application is $5,000,000.
• All grants are GST exclusive.
• GST will be applied on top of the agreed grant value when payment is made.
• Co-contributions to the project must be at least 50 percent of the total project cost (unless there are extenuating circumstances).
• Projects should request no more than $20,000 per direct ongoing job to be created through the project.

Eligible Projects

• be based in regional NSW. Projects based in Greater Sydney, Newcastle, or Wollongong Local Government Areas are not eligible
• to create employment outcomes that generate at least five new direct full-FTE jobs in regional NSW that are sustainable without additional NSW Government investment beyond the agreed grant (jobs must be directly employed by the applicant or joint applicants and not through labor hire firms). One FTE position is equal to a ‘standard working week’ of 35 hours
• demonstrating the project would not occur in regional NSW at all or in the same timeframe without government investment
• being able to complete capital works by May 2023. It is recommended applicants have a COVID plan in place to mitigate any potential delays due to COVID-19.
• have all committed FTE positions in place for at least six continuous months within three years of signing a funding deed.

Eligibility Criteria

• To be eligible to apply for funding, applicants must be a business or co-operative, and:
  • 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
    • A corporation registered under the Corporations (Aboriginal and /or Torres Strait Islander)
    • Act 2006.
    • be registered for GST
    • be financially viable and able to demonstrate that they are likely to remain so for the project
    • have at least $20 million public liability insurance
    • or be able to secure before entering into a Funding Deed if successful.
• Applicants can be based internationally, interstate, or in either metropolitan or regional NSW. International businesses will need an ABN, be registered for GST, have at least $20 million in public liability insurance, and be an eligible entity type (as listed above), to enter into a funding deed if they are successful.
• Applicants can submit a joint application, but a lead applicant will need to be nominated. If the application is successful, the lead applicant will enter into the funding deed and be ultimately responsible for delivering the project.
• Applicants are requested to ensure they use the correct organization name and details when applying as this generally cannot be changed once the project has been assessed.

For more information, visit NSW Government.

 

For more information, visit https://www.nsw.gov.au/regional-growth-fund/regional-job-creation-fund