What is the Regional Jobs Fund?
The Regional Jobs Fund is a program which aims to attract new investment, create new jobs and retain existing jobs in regional Victoria and to support businesses to improve their productivity and competitiveness.
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.
The Regional Jobs Fund provides Victorian Government financial assistance primarily to businesses seeking to develop and expand operations in regional Victoria.
The objective of this program is 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.
Applicants are expected to attempt to maximise funding from a range of sources, including:
- loans from financial institutions
- equity from business investors
- grants from the Commonwealth Government
The 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.
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.
Applications close 30 June 2022.
24 February 2021 – Regional Jobs Fund open for more applicants
A new round of the Regional Jobs Fund was launched with the release of updated guidelines, making more money available for businesses to help country towns become even better places to live, work and invest.
This fund, part of the Regional Jobs and Infrastructure Fund, is designed to support community projects and help councils to build the infrastructure locals and visitors need.