What is the Northern Australia Industry Transformation Grants?
The Industry Transformation Grant Opportunity is part of the Northern Australia Development Program which focuses on economic diversification and job creation through support for scaling up and growing businesses, including Indigenous businesses, in Northern Australian communities.
The program has 2 elements:
- grant opportunities, including Business Development Grants and Industry Transformation Grants
- Business Advisory services, which give access to advice and services to build and strengthen businesses.
The objectives of Northern Australia Industry Transformation Grants are to:
- support eligible businesses to significantly grow or transform their industry within the Northern Australia region
- de-risk the higher costs of doing business in Northern Australia by providing co-investment grant funding
- support a range of activities including capital investment in infrastructure and assets, and feasibility studies for large projects.
A total of $80 million is available for the Northern Australia Business Development Grant opportunity and the Northern Australia Industry Transformation Grant opportunity. For this grant opportunity, we estimate $40 million is available over 3 years from 2021-22.
The grant amount will be up to 50 per cent of eligible project expenditure (grant percentage). The minimum grant amount is s $3 million and the maximum grant amount is $10 million.
To be eligible your project must be aimed at:
- establishing a new industry or significantly growing the value of an existing industry and contribute to transformational change in a region
- have at least $6,000,000 in eligible expenditure
Eligible activities may include:
- buying, constructing, installing or commissioning of plant and equipment
- construction and/or fit out of new infrastructure
- capital expenditure items related to your project (not “business as usual”) for the purchase of assets and equipment such as office furniture and equipment, motor vehicles, computers, printers or photocopiers and the construction, renovation or extension of facilities such as buildings and laboratories
- relevant training and skills development directly related to your project
- feasibility studies/business case to bring your project to investment ready
- process design and engineering
- costs associated with the preparation of environmental approvals and other statutory and regulatory approvals
- scaling up activities related to the business opportunity.
To be eligible you must have an Australian business number (ABN) and be one of the following entities:
- an entity incorporated in Australia and a trading corporation
- an incorporated trustee on behalf of a trust.
Your trading activities must:
- form a sufficiently significant proportion of the corporation / trust’s overall activities as to merit it being described as a trading corporation / trust; or
- be a substantial and not merely peripheral activity of the corporation / trust.
You must also:
- be a medium to large business – more than 20 employees
- have at least $6 million in eligible expenditure.
Applications close 24 October 2023.