Regional Growth Fund – Australian Government

Regional Growth Fund, Australian Government

The Australian Government has announced a new $272.2 million Regional Growth Fund aimed at funding transformational projects which support long-term economic growth and create jobs in regions undergoing structural adjustment.

The program will run over four years from 2018-19 to 2021-22.

Initial Applications are now open for major projects valued over $20 million, with the minimum Grant amount under the fund being $10 million. Matched Funding is required to cover at least 50% of the total project cost.

Projects may include a number of strategically linked projects which together form a  package of works benefitting a region or number of regions. The program includes (but is not limited to) a number of key economic categories including transport andcommunications, tourism, manufacturing and primary industries.

Eligible applicants include not-for-profit organisations, local governing bodies, State or Territory Governments, for-profit/private sector businesses.

Applications are assessed in a two-stage process:

  1. Stage 1 – Initial Application : to assess for eligibility and merit criteria (competitive assessment)
  2. Stage 2 – Full Business Case : successful applicants will be invited to submit a full business case, including confirmation of additional funding contributions.

Applications under the Fund will be assessed against three merit criteria:

  • Job creation – both direct and indirect employees created both during and post-construction
  • Driving Economic Growth – economic benefit delivered to the region during and beyond the construction phase
  • Building Stronger Regional Communities – how the project will increase the regional community’s resilience

mapping tool is available to assist applicants determine the project or benefit location.

Fund Guidelines can be accessed here.

Applicants are encouraged to seek the support of their local Regional Development Australia (RDA) Committee for your project. 

RDA Central West can assist interested applicants to find out more information about the Fund, advise or assist in preparing applications for submission, and also can provide letters of support where appropriate. Please give our office a call on 02 6369 1600 to discuss your project further.

Applications close 5pm 27 April 2018.

For more information visit the Department of Infrastructure, Regional Development and Cities website.