Regional Industries Investment Fund

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Regional Industries Investment Fund

Funding is available for investment projects that contribute to regional population growth in Regional NSW.

RIFF

About

The Regional Industries Investment Fund (RIIF) has been established to drive economic growth in regional NSW as well as enhancing the attractiveness of regional areas. Financial assistance is available under this Fund for projects across regional NSW, (excluding the Greater Sydney Metropolitan area) that result in or promote economic outcomes for the State.

 

Business Investment Projects

Support is available for investment projects that contribute to regional population growth through the creation of new jobs, or in special circumstances the retention of existing jobs in a regional location. The RIIF aims to encourage business growth by helping businesses overcome impediments to investment projects that will lead to the creation of new jobs in regional NSW.

Applicants must demonstrate:

  • the long term viability of the project
  • cost impediments delaying or preventing the project from proceeding
  • a significant new investment in operations
  • a planned substantial increase in new jobs as a result of the project

 

Local infrastructure projects

Support is available for local infrastructure projects that are linked with employment generation investments and deliver industrial projects that have the potential to benefit more than one firm. The RIIF aims to address infrastructure barriers impeding business investment and job creation for specific projects in regional locations.  Assistance is directed toward offsetting the costs of specific critical infrastructure required for business establishment, expansion or relocation in regional NSW.

Applicants must demonstrate:

  • that the business infrastructure is directly linked to development of actual business investment and employment creation opportunities at the location
  • to what extent the business infrastructure will be “common” ie has the potential to benefit other business users (current or future)
  • an estimated timetable for the infrastructure being required/connected.
  • how funding will be a catalyst for infrastructure outcomes which would not otherwise be achieved
  • Substantial commitment of contributions from other sources (eg local government, private sector, Commonwealth and NSW government agencies).

Eligible applicants include:

  • Local Councils
  •  infrastructure providers
  • the private sector.

 

Economic Development Projects

Funding is available for projects that build capacity in local regional industries and/or have the potential to generate economic benefits such as employment, business or industry development/growth. This program does not provide assistance for community events or tourism initiatives. For applicants seeking funding for tourism projects, please visit: http://corporate.tourism.nsw.gov.au/Funding_and_Grants_p586.aspx for details.

Applicants must demonstrate that the project:

  • has broad support from stakeholders or that the project is aligned with a local, regional or industry plan
  • has the potential to create economic benefits for the broader area/region rather than being of specific benefit to a single enterprise.

Eligible applicants include:

  • local councils
  • incorporated associations including business, industry and community organisations
  • regional development organisations including Regional Development Australia committees.

 

Expert Assistance

We have a 100% sucess rate in assisting a regional manufacturer secure over $500,000 in funding to establish a new manufacturing facility. Contact us on 03 9005 6789 to see how we can help make your bid competitive.

By | 2017-02-09T17:13:18+00:00 July 10th, 2012|New Grant, NSW|Comments Off on Regional Industries Investment Fund

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