Up to $2M is available to help businesses with the capital costs of projects that will develop infrastructure for rural and regional Tasmania.

Regional Revival Fund Grant Program

Overview

The Regional Revival Fund Grant Program (RRFGP) provides funding to help businesses with capital costs for projects which creates or upgrades regional and rural Tasmania’s economic, environmental and social infrastructure.

The program provides funding to support projects that:

  • are in rural and regional areas in Tasmania (outside the major cities of Hobart and Launceston)
  • develop or upgrade economic, environmental and social infrastructure
  • provide or continue ongoing economic activity and jobs for the region.

 

Background

The Tasmanian Government is delivering on an election commitment to rebuild regional communities through the Regional Revival Fund.  This Fund has been enhanced in the 2015-16 Budget by providing an additional $5 million in funding which will be targeted at rural and regional areas and used to help upgrade valuable economic, environmental and social infrastructure and generate much needed work in these areas.

The program will see jobs created in regional Tasmania through assisting eligible proponents to bring forward projects that would otherwise be delayed or not proceed allowing them to generate or sustain ongoing economic activity and jobs.

Approximately $2.2 million is available to support additional projects through this Expression of Interest process and it is generally expected that grants would be for no more than one-half of the total capital expenditure of an applicant’s project.

 

Objectives

The aim of the Regional Revival Fund Grant Program (RRFGP) in Tasmania is to:

  • create jobs in regional Tasmania by providing funding to bring forward projects that otherwise would be delayed or not proceed
  • provide economic or social benefits to rural or regional areas of Tasmania.

 

Funding

The Regional Revival Fund Grant Program will provide one-off grants of between $100 000 and $2 million per project to eligible Expressions of Interest applicants for projects that best advance the objectives of the fund.

 

Eligible Projects

To be eligible for the Regional Revival Fund Grant Program (RRFGP):

  • The project must involve capital of at least $500,000 or can show significant related investment.
  • You need to show that you have the ability to fund the project costs.
  • The project must start within 12 months once funding has been awarded to you.
  • The project should provide ongoing employment even after its construction.
  • The project must not have received any other form of State Government grant funding.
  • The project must be located in a rural or regional area of Tasmania outside of Hobart and Launceston.

 

Eligible Applicants

The Regional Revival Fund Grant Program (RRFGP) is open to private sector businesses and local councils (including council-owned businesses) to assist with capital costs associated with new, or upgrading, economic, environmental and social infrastructure projects that will generate or sustain ongoing economic activity and jobs.

 

Timing

Applications close 24 June 2016.

 

More Information

  • Source
  • RRFGP Guidelines