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New Regional Development Fund programs now open

 

Tuesday, 1 July 2014

The State Government today opened two new programs under the expanded $15 million Regional Development Fund designed to generate economic growth and stimulate job opportunities and new investment in the regions.

Regional Development Minister, Geoff Brock said the significant increase in the fund from $1.6 million to $15 million a year was part of his agreement with the Premier.

“The increase in the fund is part of the $39 million package I negotiated that will be spent be in the regions over the next 12 months, including $10 million for a one-off Jobs Accelerator Fund,” Mr Brock said.

“The two new programs open for Expressions of Interest from today are:

• Major Projects Program ($8.55 million) – supporting major economic projects designed to strengthen regional industries, support local economies and opportunities through investment in strategic projects.

• Community Infrastructure Program ($3 million) – supporting investment in regional communities to develop economic infrastructure and grow their capabilities as a foundation for future jobs and economic growth.

“The Major Projects Program is designed to provide funding from $500,000 up to a maximum of $2 million with leveraged investment at a minimum of $3 for each $1 grant,” Mr Brock said.

“Larger amounts may be considered where there are outstanding benefits for the region and the State.

“The Community Infrastructure Program provides funding of a minimum of $300,000 up to $1 million with leveraged investment at a minimum ratio of $2 for each $1 grant.”

“Both these new programs have the potential to significantly create sustainable economic benefits, not just for regional communities, but for the State overall.”

Mr Brock announced the opening of the two new programs following the second meeting of the Regional SA Cabinet Committee, which includes five Cabinet Ministers.

“One of the main objectives of the Cabinet Committee, which I chair, is to deliver more funding and projects aimed at stimulating jobs growth in our regions.

“We want these projects to be jobs-driven and I encourage individuals and groups from across regional SA, including local government, Regional Development Australia Boards, private enterprise, community groups and the wider community to take advantage of the increased funding on offer,” Mr Brock said.

Expressions of Interest for Major Projects Program are open from today until 5pm, July 18 2014.

Expressions of Interest for the Community Infrastructure program are open from today until 5pm August 1, 2014.

The Guidelines and Assessment criteria and ‘How to Apply’ information for the enhanced Regional Development Fund are available at http://www.pir.sa.gov.au/rdf.

 

Source: Premiers Department

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