The Illawarra Business Chamber is encouraging organisations across the Illawarra to apply for grants under the new Australian Government, Building Better Regions Fund (BBRF).
The Fund provides financial support for infrastructure and community investment projects to create jobs, drive economic growth and build stronger regional communities.
Illawarra Business Chamber Executive Director, Chris Lamont, said $297.7 million will be made available over the next four years for infrastructure and community projects in rural, regional and remote Australia.
“It is essential that we see investment from all levels of government in regional areas. Many regions in NSW are doing it extremely tough and there is a need to support regional and community projects that bolster job creation and provide new business opportunities,” said Chris Lamont.
Under the BBRF the minimum grant amount is $5,000 and maximum $10 million. For projects with a total project cost of more than $20,000 the Commonwealth has specified a co-funding requirement of 50 per cent, however, exemptions from this requirement may be sought.
To be eligible applicants must be a legal entity, have an Australian Business Number (ABN) and be one of the following entities:
- Local governing body as defined by the Local Government (Financial Assistance) Act 1995; or
- Not for profit organisation
Grants are available through two funding streams - Infrastructure Projects and Community Investments.
- Infrastructure Projects Stream - construction of new infrastructure, or upgrade or extension of existing infrastructure providing economic and social benefits to regional and remote areas.
- Community Investments Stream - community building activities for new or expanded local events, strategic regional plans, and leadership and capability building activities.
“It is important that organisations looking to access this funding start preparing their submissions now and assemble supporting justification and documentation to ensure a quality submission,” said Chris Lamont.
Applications for both streams open on 18 January 2017.
An information session will be held on 31 January 2017 at the University of Wollongong Innovation Campus. To register visit: https://register.eventarc.com/36431/building-better-regions-fund-information-session
For further information on the BBRF, visit: https://www.business.gov.au/assistance/building-better-regions-fund