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What is the Regional Investment Activation Fund?
The Regional Investment Activation Fund is a grant opportunity that aims to make regional NSW the location of choice for investors and facilitate new private sector investment to activate the potential of priority precincts and industries.
Background
The NSW Government has designed the $110 million Regional Investment Activation Fund to unlock private sector investment through two targeted funding streams.
This grant funding aims to:
- Drive increased productivity, innovation and business competitiveness in regional NSW
- Activate new industries
- Promote industry cluster developments
- Deliver new and sustainable employment opportunities.
Objectives
The objectives of the grant are to:
- Support the growth of existing industries and the establishment of new/emerging industries where regional NSW has a strong actual or potential competitive advantage
- Activate the economic potential of Special Activation Precincts, Regional Job Precincts, Renewable Energy Zones, hydrogen hubs and other priority locations through increased private sector investment
- Create new high quality employment opportunities
- Support the shift towards higher-value-added activities and participation in global value chains and supply chains
- Promote collaboration between businesses, education and research institutions and other parties through sharing of knowledge, resources and infrastructure.
Need Assistance?
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Funding Streams
Stream One – $2,000,000 to $20,000,000
This grant will deliver sustainable employment opportunities, activate new industries, promote cluster development, and drive increased productivity, innovation and competitiveness of businesses in regional NSW.
Stream Two – $1,000,000 to $10,000,000
This grant supports projects that are time-sensitive and strategically significant for a priority industry or location. Projects may be recommended for funding support under the Regional Investment Activation Fund.
Eligible Projects
To be eligible for funding through Stream One of the Regional Investment Activation Fund, projects must:
- Be located in one of the 93 regional NSW local government areas, the Unincorporated Far West or Lord Howe Island. Projects located in Greater Sydney (including the Blue Mountains, Hawkesbury and Wollondilly), Newcastle or Wollongong Local Government Areas are not eligible
- Demonstrate the project would not occur in regional NSW at all, or in the same timeframe, without government investment support
- Be delivered by 30 May 2025. It is recommended applicants have a COVID plan in place to mitigate any potential delays due to COVID-19
- Deliver significant economic, social and/or environmental benefits for an industry or region
- Deliver economic benefits to multiple organisations or businesses
- Be registered for GST
- Provide proof of $20M of public liability insurance at time of contracting
- Secure approvals to meet project timeframes
- Confirm secured cash co-contribution.
To be eligible for funding through Stream Two of the Regional Investment Activation Fund, projects must:
- Be located in one of the 93 regional NSW local government areas, the Unincorporated Far West or Lord Howe Island. Projects located in Greater Sydney (including the Blue Mountains, Hawkesbury and Wollondilly), Newcastle or Wollongong Local Government Areas are not eligible
- Demonstrate the project would not occur in regional NSW at all, or in the same timeframe without government investment support
- Be delivered and operational by 30 May 2025. It is recommended applicants have a COVID plan in place to mitigate any potential delays due to COVID-19
- Support sustainable employment opportunities and drive increased productivity, innovation and competitiveness of businesses in regional NSW priority industries or in a location of strategic importance
- Deliver significant economic, social and/or environmental benefits for a priority industry or location
- Provide proof of $20 million of public liability insurance at time of contracting
- Secure approvals to meet project timeframes
- Confirm secured cash co-contribution
- Not be suitable for financial support under other Australian and/or NSW Government funding programs, or requires a NSW Government funding co-contribution to support an application to another government or industry program.
Eligible Applicants
To be eligible to apply for the Regional Investment Activation Fund, applicants must:
- Have an Australian Business Number (ABN)
- Be one of the following:
- A company incorporated in Australia
- A company limited by guarantee
- An incorporated trustee on behalf of a trust
- An incorporated association or co-operative
- An Aboriginal and/or Torres Strait Islander Corporation registered under the Corporations (Aboriginal and /or Torres Strait Islander) Act 2006.
- Be registered for GST
- Be financially viable and able to demonstrate that they are likely to remain so over the duration of the project
- Have at least $20 million public liability insurance or be able to secure before entering into a Funding Deed if successful.
Need Assistance?
Call 1300 658 508
Timing
Applications for Stream One close 14 November 2022
Applications for Stream Two close 31 December 2024 or whenprogram funding has been fully allocated, whichever occurs first.
