What is the Regional Job Creation Fund?
The Regional Job Creation Fund is a grant opportunity to help existing businesses in regional NSW to grow and encourages interstate or overseas businesses to invest in regional NSW.
The NSW Government’s 20-Year Economic Vision for Regional NSW sets out a clear pathway for regional NSW to continue growing while supporting people’s decision to live, work and invest in regional areas.
While the impacts of drought, bushfires, floods and COVID-19 have caused shock and uncertainty, this disruption also presents significant opportunities for regional businesses and communities to adapt, consolidate their advantages and prosper in the future. NSW needs to plan for the long term and give regional businesses the incentives they need to seize these opportunities.
The $100 million Regional Job Creation Fund will help businesses in engine industries to withstand the impact of these shocks by co-funding projects that initiate or accelerate investment, create jobs and support economic recovery and resilience in regional NSW.
The objective of the Regional Job Creation Fund is to support economic recovery and resilience by activating, bringing forward or attracting investment in regional NSW by co-funding business projects that create at least five new jobs.
The Regional Job Creation Fund will target the creation of at least 5,000 new direct jobs (full-time equivalent) in regional NSW over a three–year period.
The minimum grant amount per application is $100,000. The maximum grant amount per application is $10,000,000. All grants are GST exclusive.
Each application requires a cash co-contribution of 50 per cent of the total project cost. Cocontributions of less than 50 per cent or that include in-kind contributions may be considered in extenuating circumstances.
- be based in regional NSW. Projects based in Greater Sydney, Newcastle or Wollongong Local Government Areas are not eligible
- create employment outcomes in regional NSW that are sustainable without additional NSW Government investment beyond the agreed grant
- demonstrate the project would not occur in regional NSW at all or in the same timeframe without government investment
- align with existing NSW Government policies and strategies, including the 20-Year Economic Vision for Regional NSW and the relevant Regional Economic Development Strategy. The project must not contradict or inhibit any other identified NSW Government policies, priorities, strategies or projects
- have a minimum cash co-contribution of 50 per cent of the total project cost. Co-contributions of less than 50 per cent or that include inkind contributions may be considered in extenuating circumstances
- be able to be completed by June 2022. Employment outcomes may be achieved over a three-year period from signing of the
funding deed but must be in place for at least six continuous months before the thee-year period ends.
Examples of eligible projects include:
- replacement, upgrade or adaptation of existing plant and equipment including technology or energy efficiency upgrades
- establishment of an additional production line for an existing regional NSW business
- onshoring of activity currently done overseas in a regional NSW location
- development of new tourism experiences and visitor attractions creating new demand in the region
- relocating a business operation from out-of-state or internationally to regional NSW.
Grants may be used for:
- capital and other expenses directly related to the delivery of eligible projects, including:
- purchase of plant and equipment that needs additional workers to operate
- expanding built infrastructure to enable job creation activities.
To be eligible for funding, applicants must be a business or co-operative:
- operating in an ‘engine’ industry, enabling industry or emerging engine industry as described in the relevant Regional Economic Development Strategy, or
- aligned with government strategies including the 20-Year Economic Vision for Regional NSW.
Applicants can be based internationally, interstate or in either metropolitan or regional NSW.
- have an Australian Business Number (ABN) and be one of the following:
- a company incorporated in Australia
- a company incorporated by guarantee
- an incorporated trustee on behalf of a trust
- an incorporated association or co-operative
- a partnership
- a sole trader
- an Aboriginal and/or Torres Strait Islander Corporation registered under the Corporations(Aboriginal and /or Torres Strait Islander)
- be registered for GST
- have the demonstrated skills and capacity to deliver the project
- 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.
Applications close 14 May 2021.
15 July 2022 – Thales receives a $1M grant to expand its gun and missile business
Thales Australia has been awarded a $1.12 million grant from the NSW Regional Job Creation Fund Round 2. The funding will be matched dollar for dollar by Thales. It aims to create an additional 56 jobs at its Lithgow site over the next three years.
Lithgow Arms is the only small arms manufacturing capability of its type in Australia. The company has been a key partner to the Australian Defence Force providing small arms and weapons systems, as well as logistics and sustainment, for more than a century. Lithgow Arms currently exports its world-leading small arms to 17 countries.