Tourism Icons Investment Fund

Up to $5M to build or upgrade iconic tourism attractions. 1:1 cash co-contribution. Queensland tourism operators only.

Thinking big? Let’s check if your project is competitive — not just eligible.
Google logo ★★★★★ 4.8 from 250+ reviews

If you’re planning a genuinely iconic experience — something that keeps visitors in Queensland longer and lifts local jobs — TIIF is the State’s co-investment program for making it real. Below is the plain-English version of what matters: who it suits, what’s funded, how to apply, how scoring works, and the traps to avoid.

At a glance

  • Grant size: up to $5M (ex GST), 1:1 co-contribution (you fund ≥50% of eligible costs).
  • Key dates: EOI opens 10 Sep 2025; closes 8 Oct 2025. FBC invites 31 Oct–8 Dec 2025. Decisions Mar 2026.
  • Who can apply: established or actively establishing Queensland tourism operators with ABN and GST registration. Preference for Sustainable Tourism accreditation (or equivalent). Not-for-profits and Queensland local governments are eligible.
  • Policy fit: part of Queensland’s Destination 2045 plan to grow world-class experiences.

What Is It?

The Tourism Icons Investment Fund (TIIF) co-invests in infrastructure, attractions and experiences that exceed visitor expectations, create jobs and deliver lasting community benefits. Round 1 sits inside a broader, multi-year program of annual rounds.

Who Is It For?

Eligible applicants are Queensland tourism operators (or operators actively establishing in QLD) with an ABN and GST registration at application. Programs favour projects with Sustainable Tourism accreditation (or equivalent). NFPs and Queensland LGAs delivering tourism services can apply; state/federal government agencies and GOCs are ineligible.

Project fit (examples): ecotourism experiences, dark-sky, agritourism, coastal/marine, cultural/heritage and paleo tourism — provided they add clear capacity or quality and align to Destination 2045.

What’s Eligible?

Spend that directly delivers the approved project, including:

  • Capital construction (site works included)
  • Uplift/rejuvenation of existing infrastructure or experience
  • Final “for-construction” designs
  • Construction-related external labour, materials and equipment hire.

Not eligible (filters out time-wasters): maintenance, costs incurred before approval, preparatory work (planning, feasibility, approvals, consultation, insurances, tenders), marketing/website, employees’ wages, real estate, events, soft fit-out, general admin/legal, internal team’s services, or temporary assets.

How Much Can You Get?

Up to $5M (ex GST) on a 1:1 basis, with the applicant funding ≥50% of eligible costs. Projects already started can’t be funded (distinct stages can be). Applicant must be legal owner of assets purchased/created.

Project Readiness:

Your project should:

  • Have zoning for tourism, in-principle support from council and (where required) Traditional Owners
  • Be well advanced on approvals (DA preferred)
  • Be investment-ready with funding secured
  • Commence within 12 months of approval (completion by June 2028 is favoured).

How To Apply (EOI → FBC)

Stage 1: EOI (SmartyGrants) — show total project cost, evidence of funding, and delivery readiness. Accepted co-funding evidence includes: bank statement + director/CFO commitment, bank loan/facility letter, parent company guarantee, secured third-party funding, or awarded (non-Qld) government grants. A bare commitment letter without proof or unawarded grants won’t count.
Stage 2: Full Business Case (by invite) — provide a Project Plan, CBA (NPV/IRR/payback), Gantt, cash flow, risk plan, procurement & cultural heritage plan, asset maintenance plan, team capability, three years audited financials (alternatives for new operators accepted), proof of funds, land tenure/consents, DA (or progress), and start within 12 months. Due diligence applies.

Funding agreement & payments — terms & conditions are non-negotiable, but milestones and schedule are negotiated. Payments are made against milestones (ex GST) with acquittals.

Reporting — milestone reports, evidence of spend, final report, and a 12-month post-completion outcomes report. 

How to Win the EOI (use the merit criteria)

Your EOI is a screening pitch: prove you’re aligned, valuable, and ready—using the same three headings used later in the FBC (40/40/20). Then attach the exact evidence TIIF asks for.

  1. Strategic alignment (preview the 40%)
    Open with one paragraph that names the Destination 2045 themes you hit (world-class experiences, regional dispersal, sustainability, accessibility) and why the project is technically and commercially feasible. Add one-liners on zoning/DA status and local support so assessors see delivery is real, not aspirational.
  2. Economic value (preview the 40%)
    Give three numbers, fast: total capex (ex GST), grant ask, your cash (show the leverage ratio). Then one sentence on demand (bookable inventory, channels, and expected visitation/OVE lift) and a commissioning date inside the program window. Keep detail for the FBC; the EOI just needs a credible value-for-money story that can commence on time.
  3. Risk & cost allocation (preview the 20%)
    Name the big risks (approvals/tenure, construction cost and schedule, environment/cultural heritage) and how you’ve contained them (QS inputs, design maturity, procurement approach, letters of support). Signal that the State’s risk is low because core costs and consents are well advanced.
  4. Hit the mandatory EOI inclusions (don’t miss these)
    • Total project cost (ex GST). Put it at the top of the form.
    • Evidence you have (or can access) the money. Attach one or more accepted proofs: bank statement/financials plus an authorised commitment letter; bank facility/loan letter on bank letterhead; parent company guarantee; secured third-party funding; or awarded non-Queensland government grants.
    • Implementation/construction readiness. One line on current stage (e.g., “DA lodged; tender docs at 30%; long-lead items flagged”).
  5. Avoid instant fails on funding evidence
    Do not upload a promise on company letterhead with no proof, or count pending grants from other governments—neither is accepted at EOI/FBC.
  6. Prove you can start within 12 months (and haven’t started already)
    Say explicitly that the TIIF-funded stage will commence within 12 months of approval and that no funded works have commenced. If your broader project has started, carve out a distinct, future stage for TIIF.
  7. Eligibility basics in one sentence
    Confirm you’re a Queensland tourism operator (or actively establishing), with ABN and GST-registered at application—then move on.
  8. One clear ‘bookable product’ line
    State what the visitor will buy (ticket/room/activity), where they’ll book (OTAs/wholesale/direct), and the go-live date. It signals commercial reality and speaks straight to the value criterion.
  9. Name your evidence so assessors can verify in one click
    File names like “Bank-facility-letter_ABC-Resort_2025-09-12.pdf”, “Council-support_letter_2025-09-03.pdf”, “DA-submission_ref-12345.pdf” help the panel map claims to attachments quickly. (SmartyGrants EOI requires these items and will shortlist to FBC based on them.)
  10. Close with the 40/40/20 recap
    End your EOI text with a single sentence that restates alignment, economic value, and low State risk—the exact headings used at FBC. It shows you’re writing to the rubric the panel will use later.

How to Win the Full Business Case (FBC)

The panel scores three things. Use these exact headings in your FBC and make every claim easy to verify.

  1. Strategic alignment — 40%

    Say which Destination 2045 themes you hit (e.g., world-class experiences, regional dispersal, sustainability, accessibility) and then prove you can deliver.

    • Approvals & tenure — zoning confirmed, DA lodged/approved, land ownership or consent, Traditional Owner engagement, council support.
    • Design & utilities — concept through to drawings with services capacity checked.
    • Team & partners — who’s building it, who’s operating it, and any distribution partners.
    • Quantify the lift — added capacity (beds/seats), extra nights in market, accessibility or sustainability credentials in progress.
  2. Economic value — 40%

    Show the money, the demand, and that it stacks up without heroic assumptions.

    • Top line — total capex (ex GST), grant ask, your cash, leverage ratio, and a commissioning date inside the window.
    • Bookable product — what you’ll sell (tickets/rooms/activities), price points, channels (OTAs/wholesale/direct), load factors.
    • Demand & benefits — visitation and OVE uplift, seasonality impact, construction job-years and ongoing FTEs.
    • CBA — headline NPV/IRR/payback plus a simple sensitivity (±visitation, capex, price). Keep the base case conservative
  3. Risk & cost allocation — 20%

    Lower the State’s risk by showing costs are firm, consents are in hand, and delivery is controlled.

    • Costs — independent QS estimate with escalation/contingency mapped to scope/drawings.
    • Compliance — DA, environmental and cultural heritage steps and timing.
    • Procurement & governance — contract approach (e.g., fixed-price after tender), insurance, named risk owners, reporting cadence.
    • Program — realistic Gantt and critical path; long-lead items identified.

Your FBC Pack (What to Attach)

Project Plan, CBA (NPV/IRR/payback + sensitivity), Gantt/works schedule, cash flow, risk register, procurement plan (incl. cultural heritage actions), asset maintenance plan, team CVs, proof of funds, three years audited financials (or acceptable alternative for new operators), land/tenure and consents, DA evidence.

Budget & Scope Hygiene

Keep grant dollars to eligible capital (construction, uplift, “for-construction” design, external construction labour/materials/hire). Exclude maintenance, planning/feasibility, marketing, internal wages, soft fit-out, events, real estate. If it’s ineligible, fund it yourself and don’t count it as co-contribution. Project works must start after approval and the applicant owns the funded assets.

Timing & Payments

Confirm you’ll start within 12 months (projects finishing by June 2028 preferred). Terms are fixed; milestones and schedule are negotiated. Payments are against milestones (ex GST) with acquittals.

Quick Checklist (copy into your cover note)

  • Result sentence under each heading (40/40/20), with exhibit references.
  • Capex/ask/cash and leverage ratio are front and centre.
  • CBA numbers match the model; sources cited.
  • QS + drawings, DA/consents, proof of funds, audited financials attached.
  • Gantt and cash flow land commissioning inside the window.

Straight Talk: Eligibility vs Competitiveness (and the Real Effort)

We’ve done a lot of these. Being eligible gets you through the gate; being competitive gets you funded. If your co-funding isn’t bank-ready, approvals are vague, or the commercial story is thin, you’ll burn time for a maybe. We’ll give you a blunt read up front and we only take projects we score at 80%+ chance of success—so you don’t waste weeks on a long shot.

What “competitive” looks like (in practice):

  • Cash match evidenced (bank/facility/guarantee), not promised.
  • Approvals and tenure progressed (DA lodged/approved; council/TO support in hand).
  • QS costs that map to drawings, with sensible contingency and escalation.
  • A bookable product with demand sources and pricing that tie to the CBA.
  • Clear milestones, procurement, risk owners, and a start date inside the window.

How much work is it?
Plan on about 80 hours to produce a fundable submission—whether you do it or we do:

  • Scoping interviews & evidence plan: 3–4h
  • Data chase (funding evidence, letters, approvals): 10–12h
  • Budget build & QS alignment: 6–8h
  • CBA modelling (NPV/IRR/payback + sensitivity): 10–12h
  • Project plan, milestones & Gantt: 8–10h
  • Risk, approvals, procurement & governance write-ups: 8–10h
  • Appendices (tenure, DA, cultural heritage, maintenance plan): 6–8h
  • Review cycles, cross-checks, and final polish: 10–12h

If you want a straight, 15-minute call on where you’ll score—and where you won’t—we’ll tell you now, not after you’ve sunk the 80 hours.

How to Think Like a Grant Consultant (Before you Touch your Project)

Don’t start with your idea. Start with what the government wants to fund. Picture the ribbon-cutting photo the Tourism Minister wants in the papers: a world-class, bookable attraction, in a region that needs it, with real jobs, strong First Nations partnership, obvious sustainability, and private dollars matched 1:1. Your job is to make that photo (and the numbers behind it) easy.

Work backwards from that moment. What’s the headline? Who benefits? How many extra visitors and overnight stays? How much private co-investment? When is it open to the public (inside the program window)? Are approvals and tenure in hand? If your concept doesn’t tick most of these, reshape it or wait a round — being eligible isn’t the same as being competitive.

With that lens, here are the 10 project types I’d back to win under TIIF right now (think ~$5M grants, 1:1 cash, starts within 12 months):

  1. Multi-day ecotourism trails & lookouts — Extends length of stay and pushes spend into regions. Low-impact, staged builds with guided, bookable products make the economics and community benefits clear.
  2. Great Barrier Reef island revitalisations — Re-activates iconic islands with international pull and high yield. Private resort co-investment boosts leverage while upgrades (power/water/waste) lift sustainability.
  3. First Nations cultural hubs & on-Country experiences — Centers Indigenous leadership and storytelling with premium, guided product. Delivers local jobs and durable community benefits the Minister will want to champion.
  4. Dark-sky observatories & astro parks — Creates a night-time economy in the outback and drives overnight stays. Modest capex, strong education credentials, and repeatable programming make this a safe, high-impact bet.
  5. Adventure icons (gondola/skyway, ziplines, bike parks, via ferrata) — Big “wow” factor, media-friendly, and year-round demand. Proven private proponents and clear approvals pathways de-risk delivery and jobs.
  6. Wildlife & marine experiences (reef pontoons, aquariums, ranger-led) — Leans into Queensland’s reef/wildlife brand to grow international visitation and stay length. Conservation partnerships strengthen ESG and community licence.
  7. Regional event & entertainment infrastructure — Anchors repeatable events that fill shoulder seasons and rooms. Council/operator-led venues show pipeline, predictable visitation and strong OVE uplift.
  8. Agritourism precincts & farm-gate experiences — Turns day-trips into overnights across food & wine regions. Authentic producer stories, strong local co-funding and easy packaging make these fast to market.
  9. Accessible nature infrastructure (universal access boardwalks, beaches, lookouts) — Inclusive upgrades with clear public value and measurable visitation uplift for families and seniors. Lower risk, faster approvals, and strong sustainability optics.
  10. Outback heritage & paleontology attractions — Proven drawcards (dinosaurs, stockman heritage) that deliver high regional spend per trip. Community backing and museum partnerships support long-term programming and jobs.

If your project can be honestly described in those terms — bookable, leveraged, shovel-ready, job-creating, and on-brand for Queensland — you’re thinking like a winner.

 

If you’re in that top 10, let’s talk

If your concept looks like one of those winners, it’s worth a quick chat to turn “eligible” into “funded.” We’ll pressure-test your story against what assessors actually score: alignment, value, and risk. If we can’t see an 80%+ chance, we’ll tell you why and what to fix—fast.

What we’ll do in 15–30 minutes:

  • Sanity-check the bookable product, demand, and commissioning date.
  • Check your co-funding evidence (only the accepted forms) and leverage.
  • Tidy the scope/budget to eligible capital items and map them to milestones.
  • Flag approvals/tenure gaps and a realistic path to “start within 12 months.”
  • Outline the CBA numbers (NPV/IRR/payback) and the two sensitivities you must include.

If that sounds useful, grab a time and we’ll give you a straight read on competitiveness—no fluff, no run-around.

 

Grant eligibility or competitiveness? Get a straight answer. Book a Free Strategy Call
Scroll to Top