Businesses establishing themselves or expanding in regional NSW could be eligible for grants up to $10 million if they can show they are creating at least five new jobs for people in the bush.
The $100 million Regional Job Creation Fund was announced by NSW Deputy Premier John Barilaro on Sunday, 25 October.
He said the fund will provide businesses with the money to fast-track expansion plans, create jobs and stimulate the local economy.
“NSW businesses have demonstrated remarkable resilience in the face of drought, bushfires and COVID-19, and this unprecedented funding program will help them thrive instead of just survive,” said Mr Barilaro.
“I have set an ambitious target for the Regional Job Creation Fund to create at least 5000 new direct jobs across regional NSW during the next three years by providing businesses with the equipment, infrastructure and capacity they need to create new opportunities and attract new customers.”
The ambitious target means the fund will need to support at least 1000 businesses that can create five new jobs each, or fewer businesses that can create more than five jobs each.
Mr Barilaro said the Regional Job Creation Fund will provide grants between $100,000 and $10 million, which means it could support between 100 and 1000 businesses, depending on the size of the grants awarded.
Businesses eligible for the grants include those that:
- Replace, upgrade or adapt existing plant or equipment, including technology or energy efficiency upgrades.
- Enable existing regional NSW businesses to establish an additional production line.
- Relocate a business from interstate or internationally to regional NSW, or onshore an activity currently being undertaken overseas to regional NSW.
- Develop new tourism experiences and attractions to create new demand in a region.
“Regional NSW is the engine room of our state, and this program will deliver immediate economic stimulus as businesses leverage new opportunities by providing work for tradies and suppliers,” said Mr Barilaro.
Applications are now open. They will close on Friday, 14 May, 2021, or when program funding is fully allocated.
For information about eligibility criteria and program guidelines, visit here.
Original Article published by Hannah Sparks on About Regional.