25 businesses share in $17 M to invest in capital infrastructure.
The Illawarra Region Innovation and Investment Fund (IRIIF) supports the Illawarra region by stimulating investment and diversifying the economic and employment base.
The Illawarra Region Innovation and Investment Fund is a competitive merit-based grants program jointly announced by the Australian and NSW Governments in response to the restructure of BlueScope Steel Limited at Port Kembla in the Illawarra Region.
For the purposes of Illawarra Region Innovation and Investment Fund, the ‘Illawarra Region’ is defined as the Wollongong, Shellharbour and Kiama Local Government Areas.
The Illawarra Region Innovation and Investment Fund’s purpose is to support innovative job creation projects that strengthen the Illawarra’s regional economy and employment base. The $30 million Illawarra Region Innovation and Investment Fund is jointly funded by the Australian Government ($20 million), the NSW Government ($5 million) and BlueScope Steel ($5 million) over three years to 30 June 2014.
The minimum grant under Illawarra Region Innovation and Investment Fund will be $50,000. There is no maximum grant limit within the funding available under IRIIF. Grants will be up to 50 per cent of eligible expenditure as described in the IRIIF Guide for Applicants.
An eligible IRIIF application must propose a project that:
- involves eligible expenditure, including plant and equipment directly applied to the production of the outputs of the investment proposal;
- has at least $100,000 in eligible project costs;
- generates new, sustainable jobs in the Illawarra Region and does not involve the movement of business activity from other areas of Australia to the Illawarra Region;
- should not compromise competitive neutrality (e.g. by taxpayers subsidising one participant in a market, thereby reducing the competitiveness of other participants) unless it can be demonstrated that the benefits of assistance outweigh the costs; and
- is consistent with Australia’s international obligations, including under the World Trade Organization
- projects which involve no sustained net increase in economic activity in Australia will not be funded;
- infrastructure projects will not be considered;
- research or scoping activities will not be considered;
- projects which demonstrate the introduction of new innovations and/or technology (rather than research and scoping studies) will be favoured; and
- funding will not be provided for retrospective activities (i.e. project expenditure prior to the finalisation of the funding agreement will not be funded).
Government grants will not be provided for retrospective activities, for projects that involve the movement of business activity from other areas of Australia to the Illawarra Region or for activities undertaken after 30 June 2014.
Applicants must be incorporated, have an Australian Business Number and be registered for the GST. Applicants must be able to demonstrate that they have committed funding, exclusive of in-kind contributions, to the proposed project that is free of other government funding and which at least matches the funding which is being sought from the IRIIF.
Joint applications are acceptable, provided they have a principal applicant who is both the primary project proponent and an eligible applicant.
The following are not eligible to apply:
- Commonwealth, State and Local Government agencies and bodies (including government business enterprises); or
- entities that do not comply with State or Commonwealth law, such as Equal Opportunity for Women in the Workplace Act 1999.
Specialist Grant Expertise
Did you miss out on funding? We have assisted many companies obtain over $35 M for structural adjustment and regional infrastructure funding.
Typical areas where assist companies is demonstrating:
- the level of net economic benefit the proposed project will bring to the Illawarra Region, including the number of sustainable, new jobs generated through the project.
- the contribution of the project towards the diversification of the region’s economy
- demonstration of the skills, experience and resources to successfully undertake the project;
- projects which demonstrate the introduction of new innovations or technology will be favoured;
- the demonstrated capacity of the applicant to provide matching funding for the project;
- the sustainability of the outcomes of the project over the longer term without the need for ongoing need for government support; and
- the need for funding – would the project go ahead without Government support?
Our success rate is 100% for infrstructure funding. Call us now on 03 9005 6789 to see how we can make your application stand out.
Round 1 Recipients
|Datacom||Establishment of a regional contact centre for Datacom for the provision of call centre services|
|Diversified Mining Services (DMS)||Establishment of facility for DMS COALTRAM® utility vehicle supply and service for the coal mining industry|
|Dunetone / Spiers Engineering||Upgrade to facility for the manufacture of precision machinery components primarily for the mining industry|
|Fibre Optics Design and Construct||Establish facilities for manufacture of innovative mining industry communication system|
|Hydromet||Expansion of facility for lead recovery from cathode ray tube (CRT) glass generated from e-waste and used lead acid batteries (ULABs)|
|AINS||Internetrix website manufacturing engine: a new digital platform for buying and configuring websites online|
|iTree||Expansion of RegulationWorks® software which provides safety, security and intelligence management functionality for regulatory, compliance and enforcement agencies|
|Jamberoo||Expansion of Jamberoo Recreation Park|
|Skydive the Beach||Skydive the Beach Business Expansion|
|Soilco||Upgrade to Organic Materials Processing and Recycling Facility|
|Sound Therapy International||Expansion of Sound Therapy International’s ear and brain health-improvement listening programs into new medical and educational markets|
|Superfine in Focus||Focus Illawarra – Creating a Centre of Print Manufacturing & Training Excellence|