Up to $2M is available from Collie Futures Industry Development Fund to develop new industries and create job opportunities in the Collie region.
Collie Futures Industry Development Fund
The Collie Futures Industry Development Fund (CFIDF) supports new and existing businesses in the Collie region of WA to develop new or expand existing industries. Successful projects will be those able to demonstrate a significant and sustainable impact on the local economy by increasing productivity and creating jobs.
The Government of Western Australia has established the Collie Futures Fund, a $20 million initiative over five years to support the growth of jobs and a ‘Just Transition’ for the Collie region through development and diversification of the local economy. The fund aims to create long term employment security for the people of Collie by supporting economic development opportunities identified by industry and the local community and in the Economic Development Plan for the Collie and Bunbury Regions. The Collie Futures Fund will provide support through the Collie Futures Industry Development Fund (CFIDF) and the Collie Futures Small Grants Program (CFSGP).
The CFIDF will provide support for significant industry-led proposals that will contribute to economic development and diversification of the regional economy. Industry-led proposals provide a mechanism for government to leverage private sector expertise and initiatives to support development of new industries.
The Collie Futures Industry Development Fund (CFIDF) will focus on developing new industries and expanding existing industries in the Collie region. The anticipated outcomes of the program are a significant increase in the:
- number and diversity of job opportunities;
- productivity of business and industries; and
- scale and diversity of the economic base.
Under the Collie Futures Industry Development Fund (CFIDF), funding will be available to new projects which are able to demonstrate a significant and sustainable impact on the local economy through both increased productivity and creation of jobs. Specifically, funding (up to a maximum of $2 million) will be made available for activities to support commercialisation and implementation of identified substantial business opportunities.
To be eligible for consideration, an application must be made online using the SmartyGrants Portal (https://agric.smartygrants.com.au/CFIDF) established for the CFIDF and:
- clearly demonstrate alignment of the proposal outcomes with the above objectives of the Collie Futures Fund;
- clearly demonstrate impact on the regional economy within a journey-to-work zone of up to 50 kilometres from the Collie townsite;
- include a summary project plan, including high-level project outcomes and deliverables, a timeline, details of the project budget, resources, risks, statutory approval requirements, stakeholder engagement and evaluation (note funded activities must be completed within 2 years of the funding agreement being signed);
- be seeking up to a maximum of $2 million Collie Futures Fund funding and include a funding contribution from the applicant (all Collie Futures Fund funding must be matched by a minimum, secured cash co-contribution of $1 for every $1 funded); and
- be made by a valid legal entity that can enter into a funding agreement with the Western Australian Government.
Applications will be primarily considered from private sector businesses, including small to medium sized businesses. However, applications will also be considered from local government authorities, business and industry groups (such as industry peak bodies and business associations), not-for-profit organisations and community groups with a valid Australian Business Number (ABN) or Australian Company Number (ACN).
The fund will focus on the following sectors where the Collie region has strengths and growth prospects, as identified in existing regional plans and industry strategies:
- Aged and health care;
- Coal-related industries;
- Forest products;
- Manufacturing and professional services;
- Mineral processing; and/or
However, consideration will also be given to new and emerging industries if the applicant is able to demonstrate the Collie region is a prospective location for the industry.
Support will be provided for activities which develop new industries or expand existing industries and increase productivity and employment opportunities in the Collie region. Support will be flexible and tailored to specific project proposals and may include, for example:
- Support for development and commercialisation of new industry and business opportunities, including demonstration or pilot plants.
- Support for integration of new technology to improve the productivity of existing businesses or enable development of new business streams.
- Support for specific infrastructure, plant or equipment that supports development of new businesses or improves innovation and productivity of existing businesses.
- Support to develop common-user infrastructure to address local infrastructure challenges that impact on industry productivity or expansion, for example water, energy or transport infrastructure.
Applications open on an ongoing basis.