On the 2nd March 2018, The Hon Dr John McVeigh MP, Minister for Regional Development, Territories and Local Government, announced the opening for Initial Applications to the $272.2 million Regional Growth Fund.
The Regional Growth Fund will provide grants of $10 million or more for major transformational projects which support long-term economic growth and create jobs in regions undergoing structural adjustment.
Projects must be located in Australia and in an eligible area or, if your project is located in an excluded area, you must clearly demonstrate how economic benefits flow directly into an eligible area. A mapping tool is available to assist applicants determine the project or benefit location.
Selection of projects will be undertaken in two stages. Stage One requires submission of an Initial Application for competitive assessment. Stage Two is for the submission of a Full Business Case. Only successful applications to the Initial Application will be invited to submit a Full Business Case.
Initial Applications will close at 5pm AEST on 27 April 2018.
To be competitive you must score highly against all three criteria:
- Create Jobs
- Drive Economic Growth
- Build Stronger Regional Communities
You should familiarise yourself with the Key Documents prior to commencing your Initial Application.