What is the Regional Growth Fund?
The Regional Growth Fund is a program to support projects that unlock new economic activity in our regions, create jobs, grow export opportunities and strengthen regional communities.
The Government of South Australia recognises our regions are fundamental to the success of South Australia’s economy. The current COVID-19 pandemic has highlighted the need for strategic assistance to rebuild the South Australian economy to be stronger than before.
More than $1 billion in economic response measures have been announced by the Government of South Australia, including $350 million in Economic Stimulus focused on shovel-ready infrastructure maintenance and jobs and the $650 million Jobs Rescue Package which provides payroll and land tax relief, cost of living concessions, the $300 million business and jobs support fund and the $250 million community and jobs fund. These measures are on top of reforms to strengthen the State’s economic foundations initiated prior to COVID-19, including the abolition of payroll tax for small businesses, reforms to land tax and reducing the Emergency Services Levy on businesses and households.
This Regional Growth Fund – Strategic Business Round 2020 is a once-off $15 million special round seeking applications under the Regional Growth Fund Strategic Pool. Through this once-off Regional Growth Fund – Strategic Business Round 2020, the Government aims to unlock business investment to jump start regional economies by supporting shovel ready projects that drive new or enhanced economic activity.
The Regional Growth Fund has been established to:
- unlock new economic activity in our regions
- deliver critical economic infrastructure to create direct benefit across regional industries
- strengthen regional communities.
Through this fund, the State Government is committing $150 million over 10 years to support regional South Australia as part of the Recharging Our Regions policy.
A special $15 million round of the Regional Growth Fund has been established to help fast track the recovery of regional economies after COVID-19.
Applicants can seek grants from $50,000 up to $2 million.
The proposals being sought should have strong production outputs, jobs and economic and market growth prospects and align with the Government’s strategic economic, infrastructure, skills and market development priorities and the Growth State focus sectors of tourism; food wine and agribusiness; hitech; energy and mining; space industry; health and medical industries; defence industry; international education; or creative industries.
The projects funded must provide enduring economic benefits and growth that can be demonstrated as having impact in the regions, for example through local job creation, income generation, increased throughput and therefore greater reliance on South Australian inputs, investment or export development. Projects must demonstrate alignment with broader Government priorities and strategies.
The requirement that Strategic Pool applications must demonstrate that the project leverages funding from other non-State Government sources, such as the Commonwealth Government, does not apply to this Strategic Business Round.
Applications to the Regional Growth Fund – Strategic Business Round 2020 are limited to:
- Incorporated Associations
- Business clusters
- Individual commercial enterprises
Projects must show the ability to commence within 3 months of approval from the Minister with the funds fully acquitted within 24 months of commencement. This will include projects that are well progressed in obtaining necessary approvals.
Applications close 12 July 2021.
Competitive Round Projects 2020-21
The following projects have been funded through the 2020-2021 competitive round of the Regional Growth Fund.
- Ferretti International – $2 million for creating a state-of-the-art steel processing facility in Whyalla to support Ferretti and partners in their requirements for low cost processed steel for future expansions.
- Karoonda Business Growth Precinct – $125,000 to fast track power and water installation at the Karoonda business industrial park.
- Eyre Peninsula Ocean Jackets Fishing Cluster – $740,000 to upgrade the existing processing room at Mori Seafoods with new equipment to receive, process, retail pack and export Ocean Jacket fillets.
Strategic Business Round Projects 2020
A special round of the Regional Growth Fund ran in 2020 to help fast track the recovery of regional economies as a result of COVID-19. This additional $25 million stimulus provided a one-off opportunity for individual businesses to access up to $2 million to launch projects that would drive new or enhanced economic activity and create jobs.
- Timberlink Australia – $2 million for cross laminated timber and glue laminated timber plant.
- Beston Pure Dairies – $2 million for accelerated lactoferrin plant expansion.
- Kingston Estate Wines – $2 million for Kingston Estate Winery Expansion.
- Beresford Estates Pty Ltd – $2 million for Vale Brewing Taphouse and accommodation pavilions.
- Pernod Ricard Winemakers – $1.25 million for ready-to-drink beverage manufacturing relocation.
- McMahon Services Australia Pty Ltd – $2 million for construction and operation of Port Pirie Resource Recovery Facility.
- Australian Grain Export – $2 million for plant for value adding to pulses.
- Parilla Premium Potatoes – $2 million to establish a new potato washing and packing facility.
- Yumbah Hatchery Pty Ltd – $400,000 to establish a ‘spat bank’ to future-proof oyster spat supply and selective breeding programs.
- Gadaleta Steel Fabrication – $2 million for the purchase and installation of automated steel processing machinery to increase production capacity.
- T Musolino & Co – $515,000 for a new climate-controlled food processing facility.
- SABOR Limited – $440,000 to expand and provide an enhanced biosecurity facility to house boars, which will enable growth in the Australian pig industry and develop greater commercial productivity and exports.
- Yalumba Wine Company – $1,065,000 to establish a high-health grapevine germplasm collection and field nursery.
- Berri Hotel Inc – $1.5 million for construction of an extra 20 rooms at the Berri Resort Hotel and associated landscaping.
- Torrens Valley Orchards – $170,000 to install a fully automated overhead sprinkler system to expand cultivation area and respond to climate impacts. $141,890 to install additional packaging equipment to provide small volume, high value, contact-free products.
- Kangaroo Island Free Range Eggs Pty Ltd – $437,795 for construction of new production facilities with three temperature-controlled areas, dry storage, packaging area and new transport loading areas.
- South East Pine Sales (AJ Forster) – $88,670 for an automated biomass steam generation plant for wood drying.
- Wirra Wirra Vineyards – $225,875 for expansion of a commercial kitchen to support ‘Harry’s Deli’.
- Woodhouse Activity Centre – $395,743 for the Centre’s expansion and fire protection as a last resort bushfire refuge.