SOUTH Australian Treasurer Tom Koutsantonis says millions of dollars in grants and loans are now up for grabs for regional business in an attempt to “turbo-charge” the Limestone Coast’s economy.
Spruiking the government’s $200m Future Jobs Fund, the treasurer claimed the “sky was the limit” for regional business operators who wanted to grow jobs and the state’s economy.
Mr Koutsantonis mooted manufacturing businesses, food companies and renewable energy projects – such as biomass opportunities – could potentially share in the $50m in grants and $70m in low-interest loans.
“We want them to put their best foot forward and apply,” Mr Koutsantonis said.
He said the low interest loans and grants would bridge the “tyranny of distance” for businesses and access to finance.
New figures show the government’s job acceleration grant scheme is also fuelling employment growth with 350 new jobs created through the initiative.
Mr Koutsantonis – who has come under fire for his pro-gas mining stance in the Limestone Coast – said he also wanted to see renewable energy projects come to fruition.
He revealed biomass was part of the government’s renewable energy vision and a number of biomass proponents from the region had come forward.
Mr Koutsantonis said other renewable energy options – such as wind, wave or solar – also could be in the renewable energy mix.
Facing criticism over the perceived metropolitan-centric state budget, the treasurer said the transition away from the automotive sector to new growth industries was not just isolated to the “northern suburbs” of Adelaide.
“We want to turbo-charge regional economies,” he told The Border Watch.
Regarding the Limestone Coast, he said food manufacturing and advanced processing facilities such as Kimberly-Clark Australia Millicent Mill could share in the funding.
He said the Limestone Coast was well positioned to accelerate its economy given its strong industries and low unemployment rate.
The treasurer revealed he did not see many “tyre-kicking” applications from regional communities.
Mr Koutsantonis said the applications would be determined through an independent treasury department process.
“We want to minimise any political involvement,” he said.
In fact, he called on businesses large and small to tap into these grants and low-interest loans.
Moreover, the treasurer called on regional councils to ensure development applications were not caught up in any processing approval backlogs.
Mr Koutsantonis said he had spoken with local government sector about the need to fast-track development applications.
He said it would be a “crying shame” if developments were thwart by councils.
He said businesses – including cafes/restaurants – could tap into these loans/grants for new equipment if it meant jobs would be created.
“Whether it is a restaurant who wants to grow and purchase a new piece of equipment to hire more people, we are up for it.”
Applications will now be accepted for the Future Jobs Fund grants and loans via www.treasury.sa.gov.au
