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What is the Regional Jobs Fund?
The Regional Jobs Fund is a program that provides Victorian Government financial assistance primarily to businesses seeking to develop and expand operations in regional Victoria.
Background
The Regional Jobs Fund looks to support projects which create employment opportunities across industry sectors where regional competitive advantage exists. This includes, but is not limited to :
- food and fibre
- advanced manufacturing
- professional services
- new energy technology
- medical technology, life sciences and healthcare
- transport, defence and construction technology.
Regional Jobs Fund is part of the Regional Jobs and Infrastructure Fund, the Victorian Government’s flagship regional development fund central to driving growth and recovery in rural and regional Victoria.
Objectives
The Regional Jobs Fund aims to attract new investment, create new jobs, and in some cases retain existing jobs in regional Victoria and to support businesses to improve their productivity and competitiveness.
Projects funded under Regional Jobs Fund are expected to strongly align with the relevant REDS demonstrating a place-based economic impact
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Funding
Regional Jobs and Infrastructure Fund has been allocated $30 million in 2022-23 to leverage private sector investment, grow and diversify our regional economy, and improve economic and social outcomes to make regional Victoria an even better place to live, work and invest.
Eligible Projects
The Regional Jobs Fund program will consider the following types of projects resulting in the retention and creation of new jobs, development of business innovation and productivity, as well as the provision of utilities and infrastructure:
- investment projects where regional Victoria is in competition with interstate or international locations (i.e. footloose investments)
- projects attracting footloose capital into new and/or existing facilities
- investment to develop new facilities, expand existing facilities and repurposed facilities.
- projects that underpin the sustainability of businesses and the retention of jobs in regional Victoria
- projects introducing new technologies, plant and equipment and systems to improve productivity, competitiveness and business growth
- projects enhancing the skills of the workforce to raise productivity
- the introduction of innovations, technologies, equipment and processes to develop and increase exports
- projects improving supply chain efficiencies through collaborative projects
- projects boosting the capacity of new and existing regionally significant employment precincts such as CBDs, health, education, innovation, industrial and special purpose precincts
- projects that involve utility and service connections and/or upgrades to activate business investment and create jobs (i.e. typically, consideration will be given to projects that require upgrades to electricity supply, gas supply, water supply and wastewater treatment services).
- projects that focus on water and energy savings that improve the operational sustainability of a business in a regional location such as solar and water recycling projects.
The following activities will not be considered for funding:
- projects primarily to meet regulatory requirements
- requests for retrospective funding where projects have been completed or have commenced prior to receiving funding approval
- ongoing operating costs or salary subsidies
- purchase of property
- projects undertaken by the private sector as a result of a Victorian Government contract
- projects normally funded through commonwealth, state or local government sources
- projects requiring operational funding from the Victorian Government once completed
- telecommunication service improvements and access road upgrades will not be considered.
Eligible Applicants
Applications will be considered from:
- private sector businesses
- business and industry groups including:
- chambers of commerce and business associations
- industry peak bodies
- business and industry clusters and networks.
Applications that involve the provision of enabling infrastructure necessary to activate projects delivering investment and jobs may be considered from:
- utility and services providers
- water corporations
- Local Government Authorities
- incorporated not-for-profit organisations operating businesses.
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Timing
Regional Jobs Fund is accepting applications throughout the 2022-23 financial year or unless funds are exhausted prior.
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