Regional Tourism Investment Fund – Competitive Round

What is the Regional Tourism Investment Fund?

The Regional Tourism Investment Fund is a grant opportunity to support new and innovative tourism infrastructure projects that will increase visitation, drive private investment, and deliver more jobs.

 

Background

The Regional Tourism Investment Fund – Competitive Round will drive the recovery and sustainability of regional Victoria’s visitor economy by catalysing private and public investment and facilitating new and innovative tourism infrastructure projects.

Projects funded through the Regional Tourism Investment Fund – Competitive Round must support the delivery of the outcomes identified for the TIP, which has three outcome metrics:

  • Increased yield (an increase in the total spend per visitor);
  • Dispersal across seasons and regions (strengthening year-round visitation and visitor dispersal across regions); and
  • Increased volume (growth in visitor numbers, repeat visitation and/or length of stay).

 

Objectives

The objectives of the Regional Tourism Investment Fund – Competitive Round are:

  • Deliver strategic tourism infrastructure projects that will increase visitation, improve quality of customer experience, and increase visitor yield and length of stay.
  • Deliver projects that broaden Victoria’s tourism offering, and support and encourage yearround visitation and dispersal across regional Victoria.
  • Leverage and facilitate private sector investment, including through strengthening public tourism infrastructure.
  • Drive new jobs and improved outcomes for the State’s visitor economy.

 

Funding

The fund will deliver grants up to $10 million per project, with a minimum funding amount of $150,000 per project, focussing on four growth sectors identified in the Visitor Economy Recovery and Reform Plan – nature, epicurean, arts and culture, and First Peoples’ led experiences.

 

Eligible Projects

To be eligible for funding under this round of the Regional Tourism Investment Fund – Competitive Round, a project must:

  • be a new tourism infrastructure and/or significant enhancements that build on existing infrastructure, or
  • be enabling infrastructure that directly and demonstrably unlocks private tourism investment.

Projects must demonstrate strategic investment or support visitation outcomes in one or more of the following Visitor Economy Recovery and Reform Plan priority experience pillars: nature, epicurean, arts and culture; and First Peoples’ led experiences, and meet the objectives of the fund, which are:

  • deliver strategic tourism infrastructure projects that will increase visitation, improve quality of customer experience, and increase visitor yield and length of stay
  • deliver projects that broaden Victoria’s tourism offering, and support and encourage year-round visitation and dispersal across regional Victoria
  • leverage and facilitate private sector investment, including through strengthening public tourism infrastructure
  • drive new jobs and improved outcomes for the State’s visitor economy.

Projects that are ineligible for funding under this round of the fund include:

  • project planning for infrastructure projects such as a feasibility study, a demand study, or a business case to enable prospective applicants to investigate the technical and or economic viability of an infrastructure project (design and construct projects may be considered)
  • local strategic planning including economic development strategies and plans for future growth and infrastructure needs
  • projects that require ongoing funding from the Victorian Government for operation or maintenance
  • retrospective funding, where projects have been completed or have started prior to receiving funding approval
  • projects that are only purchasing plant and equipment
  • projects that are considered core business for local government, e.g. construction of carparks and toilets (unless they are a component part supporting a broader tourism project), construction and maintenance of Visitor Information Centres, and enabling infrastructure not directly linked to unlocking private investment.

 

Eligible Applicants

To be eligible, businesses must be:

  • private sector proponents (defined as an individual, privately-owned or commercial organisation that has overall control and responsibility for project that is predominantly funded through private capital)
  • local and State Government entities, including Public Land Managers, Land Management Authorities and Committees of Management, Local Government Authorities, Alpine Resort Management Boards and State or Local Government owned entities
  • incorporated associations, or;
  • not-for-profit organisations, including community groups that are an incorporated body, cooperative or association; or Traditional Owner Corporations, organisations and groups, and Aboriginal-owned businesses.

Eligible businesses must also:

  • be an incorporated body, cooperative or association (including business associations)
  • hold an Australian Business Number (ABN), and
  • be financially solvent.

Projects eligible for funding must be in an eligible project location (see program guidelines) and must be:

  • new tourism infrastructure and/ or significant enhancements that build on existing infrastructure; or
  • enabling infrastructure that directly and demonstrably unlocks private tourism investment.

 

Timing

Applications close 7 January 2022.

 

More Information

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