Industry News, News, South Australia

$5m round for Regional Growth Fund now open

The opening of South Australia’s third funding round of the Regional Growth Fund has been brought forward in a move designed to provide economic stimulus to the state’s regions impacted by bushfires, drought and ongoing impacts of coronavirus.

Minister for Primary Industries and Regional Development Tim Whetstone said that the current round for projects will strengthen regional economies and provide tangible social benefits to local communities. The last round of funding unlocked $14.6 million investment across 10 projects, which are expected to create 160 jobs.

Whetstone added that by bringing forward applications for the Regional Growth Fund the state government’s $350 million stimulus package aimed at safeguarding the economy and protecting jobs will be supported.

“The Marshall Government recognises that supporting our regions is crucial to the future prosperity of our state,” Whetstone said.

“The Regional Growth Fund helps unlock new economic activity in our regions and by bringing applications forward we will help fast-track the recovery of our regional economies, which have been hurting as a result of the recent bushfires, drought and the ongoing impacts of coronavirus.”

10 year commitment

The Regional Growth Fund is a 10-year commitment offering $15 million in grants annually to support projects that will deliver tangible benefits to regional South Australia and most importantly creates jobs.

“Successful projects will be those that not only strengthen the economies of our regions, but also provide real community-wide benefits to the area. The first two rounds of funding are supporting projects that are creating stronger and more resilient regions.

“Thanks to the 2019-20 round of funding, our regional areas will enjoy a wider variety of food and drink experiences, better water and cycling infrastructure, and diverse tourism opportunities, so I’m again looking forward to seeing the range of projects that will make a positive difference in our regional towns and communities.

“I encourage eligible applicants who have a project they feel can strengthen our regional communities to apply.”

Grants up to $2 million

Applicants in the third round can seek grants from $50,000 up to $2 million, with projects to be located within South Australia that offer outcomes and benefits for regional South Australia.

Projects should foster collaboration and demonstrate a commitment to local employment, and purchase local supplies wherever possible. Applications to the Regional Growth Fund will be accepted from local government bodies, incorporated associations and business clusters.

Applications for Round Three of the Regional Growth Fund close at 12pm on Monday May 11, 2020. More information is available at www.pir.sa.gov.au/regionalgrowthfund