Up to $200 M is available from the Regional Jobs Fund to support businesses and organisations with funding to develop and retain regional jobs.
Regional Jobs Fund (RJF)
The Regional Jobs Fund (RJF) is part of the $500 million Regional Jobs and Infrastructure Fund which will invest in growing jobs, building infrastructure and strengthening communities in regional Victoria.
The primary aim of the Regional Jobs Fund (RJF) is to facilitate job creation and retain existing jobs. It will attract and facilitate investment with a focus on regional competitive advantage or high-growth potential businesses, and it will assist to diversify the regional employment base.
The fund aims to improve regional capacity, innovation and capitalise on the potential of emerging industry sectors, particularly the Government’s priority areas and new export markets.
A total funding pool of $200 million is available.
There are no set minimum and maximum funding limits. Applicants are expected to make a financial contribution or source third-party funding.
The Regional Jobs Fund (RJF) will provide support for strategic projects and infrastructure through the following four public grant program streams:
Aims to attract and facilitate investment and growth in new and existing businesses in regional Victoria.
Innovation and Productivity
Aims to improve the productivity and competitiveness of regional industries to ensure the long-term sustainability of businesses and jobs.
Aims to grow regional export potential and access to new markets for business and industry groups. This stream includes the Food Source Victoria initiative.
Aims to boost the capacity of new and existing regionally significant employment precincts such as CBDs, health, education, innovation, industrial and special purpose precincts.
Activities that will be funded are:
1. Investment Attraction
- New investment or bringing forward investment in existing regional businesses that creates jobs.
- Targeted investment assistance and incentives for businesses to move to, or expand into, regional Victoria involving new capital investment and job creation.
- Introduction of new manufacturing capability, new technology, process change or plant modernisation, which results in business growth and jobs creation.
- Opportunities to grow emerging businesses or diversify existing operations.
2. Innovation and Productivity
- Integration of new technology and/or processes designed to improve productivity and competitiveness, strengthen capabilities and have a transformative impact on business models through encouraging wider and ongoing innovation.
- Specific infrastructure, plant or equipment that improves the efficiency and competitiveness of regional businesses.
- Common infrastructure projects that aim to address known regional infrastructure challenges that impact on industry sustainability and limit expansion.
- Industry clusters/networks that bring together representatives of regional businesses, research centres and government to strengthen regional supply chains and competitiveness through collaboration and innovation.
- Enhance workforce capabilities to support investment in new technologies and processes that improve the productivity of businesses.
3. Market Access
- Strategic export development planning and capabilities development aimed at improving regional businesses’ understanding of and access to new and emerging markets.
- Targeted industry cluster/network development projects (including educational activity and exploration of the feasibility of exporting, accessing new markets or building business capability).
4. Employment Precincts
- Provision of infrastructure and servicing that facilitates long-term commercial investment by a foundation business or anchor tenant that creates jobs and encourages innovation in a precinct.
- Development or facility upgrades that enhance business growth, jobs creation and innovation potential of existing employment precincts.
- Development of new precinct ‘stages’ that enhance business growth, job creation and the innovation potential of existing employment precincts.
- Development of new precincts in geographically specific and strategic locations that optimise existing economic assets, provide strong connections to new markets and enhance the region’s capacity to attract new investment in growth sectors.
Applications will be considered from:
- private sector businesses and agencies
- business and industry groups including:
- chambers of commerce and business associations
- industry peak bodies
- business and industry clusters and networks
- local government authorities
- government agencies
- not-for-profit organisations and community groups that:
- are an incorporated body, cooperative or association
- have an Australian Business Number (ABN) or can provide written advice from the Australian Tax Office that no withholding tax is required from the grant payment
- higher education and private training institutions
- regional organisations e.g. regional strategic planning alliances.
Applications open on an ongoing basis.