The third round of funding is worth $100 million and is aimed at driving productivity and growth for local businesses, attracting new investment to the regions and boosting job security.
Deputy Premier and Minister for Regional NSW Paul Toole said the fund would provide grants for regional businesses to expand their operations and attract interstate and international businesses to relocate to regional NSW.
He said the grants would allow businesses to boost production lines, deliver new equipment and embrace future technologies to drive efficiencies and productivity.
“The Regional Job Creation Fund will create 6,500 jobs across key industries, and this new round will build on that by attracting additional advanced manufacturing capability to our regions,” Mr Toole said.
Nearly 200 businesses benefited from round two of the scheme, which generated more than $360 million of private investment into regional NSW.
The Regional Job Creation Fund’s focus is to co-fund projects creating at least five sustainable regional jobs. Applicants must provide a minimum 50 per cent cash co-contribution to the project, and the NSW government contribution will be no more than $20,000 per new job created through the project.
Eligible businesses can apply for grants of between $100,000 and $10 million for projects such as replacing plant equipment, upgrading technology, and ensuring businesses that might otherwise have to relocate can remain based in regional areas.
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.
Applicants must:
- 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 goods and services tax (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
Expressions of interest for round three of the Regional Job Creation Fund open on Friday, 13 January 2023, and close 5pm on Monday, 6 March 2023. Successful EOI applicants will be invited to submit detailed applications from May 2023.
