The NSW Regional Investment Activation Fund aims to:
- Drive increased productivity, innovation, and business competitiveness in regional NSW
- Activate new industries
- Promote industry cluster developments
- Deliver new and sustainable employment opportunities
Key priority sectors include:
- Advanced manufacturing
- Technology-enabled primary industries and F&B
- Renewable energy, gas, and recycling and waste management
- Critical minerals
- Ecotourism and visitor economy infrastructure
- Freight, logistics and distribution
- Health and aged care
- Knowledge economy and innovation in professional and financial services
- Defence
Projects must be located in one of the 93 regional NSW Local Government Areas, including Lord Howe Island or the Unincorporated Far West. Projects in Greater Sydney, Newcastle or Wollongong LGAs are not eligible.
Streams available under this program
Stream 1 – Competitive grant program, EOI closes 14 November 2022
Funding: $2 million to $20 million (1:1 co-contribution basis)
Eligible entities must:
- Have an ABN, be registered for GST, and $20 million in public liability insurance.
- NOTE: applicants can be based interstate as long as the project is based in NSW.
Eligible projects must:
- Be located in one of the 93 regional NSW Local Government Areas.
- Be delivered by 30 May 2025.
- Deliver significant economic, social and/or environmental benefits for industry or region.
- Deliver economic benefits to multiple organisations or businesses.
Eligible costs:
- Purchase of land.
- Installation and commissioning of new plant, equipment, or machinery.
- Construction or fit out new facilities, buildings, or hubs.
- Purchase of technology or intellectual property.
The application process involves an EOI and Detailed Application, and final assessment outcomes are expected to be announced on 1 May 2023. This grant opportunity is broad reaching and can be a great opportunity to accelerate your business investment plans. If project timing is an issue, Stream 2 provides flexible grant support.
Stream 2 – Ongoing discretionary grants program – ends May 2025 (or when funding is exhausted)
Funding: $1 million to $10 million (1:1 co-contribution basis)
Eligible entity / project / costs: see Stream 1
This stream provides flexibility to support projects that are time sensitive and strategically significant for a priority industry or location.
Applications are assessed individually without reference to comparative merits of other applications. There is a two stage process, including EOI followed by a Detailed Application, where applications are open until fully allocated or 31 December 2024, whichever occurs first.
Further information on both streams can be found here.
Other NSW grant opportunities
We are seeing some good grant opportunities ahead of NSW’s state election in March 2023, but expect these will be the last before the state goes into caretaker mode.
Regardless of alignment to this particular grant program, please speak with us about any NSW based investment projects, particularly in the priority areas. We can help to assess your eligibility and identify alternative programs if needed.
Critical Minerals and High-Tech Metals Activation Fund – Stream 2 “Enabling Project Infrastructure”
Stream 2 “Enabling Project Infrastructure” is now open and due by 31 October 2022.
This grant aims to drive investment and activation of critical minerals and high-tech metals projects across the supply chain in NSW by funding strategic infrastructure to expedite development of investment ready projects and address infrastructure blockages.
Funding: $2 million to $10 million (1:1 co-contribution basis)
Eligible entities must:
1. have an ABN
2. operate, or be developing a mineral project within the critical minerals and high-tech metals industry, or as a part of the critical minerals supply chain
3. NOTE: applicants can be based interstate as long as the project is based in NSW.
Eligible Projects must:
1. Support or be infrastructure needed to enable critical minerals or high-tech metals mining, processing or production in NSW
2. Commence construction within 18 months from execution of the funding deed, and activities completed by 31 December 2026
3. Deliver significant benefits to the industry
4. Create additional ongoing jobs in regional NSW that are sustainable
Full program details can be found here.
Circular Plastic Program
This grant focusses on companies manufacturing better plastic products (new product design and processes) to reduce virgin plastic use and increase plastic recycling.
Funding: up to $500,000 for individual manufacturers, or $750,000 for collaborative partnerships (1:1 co-contribution).
Full program details can be found here.
Applications close 17 November 2022.
New business investment and clean energy grant programs
We anticipate new grant programs to open soon, including:
“New Jobs Plus” program (name TBC): a new grant program to incentivise starting and growing operations in NSW. Expected to open soon.
New clean energy program (name TBC): grant program to support clean energy technology development or manufacturing (such as low carbon materials, green chemicals, hydrogen, power fuels, clean fuels and agricultural materials, electric vehicles, electrolysers).
Look out for next fortnight’s Client Alert for Queensland grant opportunities.
