APPLICATIONS for the State Government’s $150m Regional Growth Fund are now open, with funding of up to $2m available for initiatives that will bolster the state’s regional economy and support jobs growth.
The decade-long fund will see $15m per year allocated to regional development initiatives through a $5m competitive pool and a $10m strategic package.
The $5m per year competitive pool will support projects from $50,000 up to $2m matched on a dollar for dollar basis eligible for funding.
Regional Development Minister Tim Whetson said $10m in the fund would be open to applications all year round for “strategic projects that leverage additional funding sources”.
He said the fund, announced as part of the State Government’s $1b Recharging our Regions pre-election pledge, would support new activity that would not occur otherwise.
“We will also be looking at projects where the cost of doing business can be reduced and where broader economic benefits will be achieved for community and multiple entities, including those not directly associated with the project,” he said.
“Regional South Australia is full of innovative forward thinkers and people who are looking to do business smarter and more effectively and we look forward to funding innovative projects that create sustainable benefits to the local region and the state overall.”
Applications for the 2018 round of the competitive pool will close August 31.
Visit pir.sa.gov.au/regionalgrowthfund for more information.
