Job creation fund to stimulate regional business

A $30m fund is jointly supported by the Australian Government ($20 million), the NSW government ($5 million) and BlueScope Steel ($5 million), running over the next three years to 30 June 2014.

It is expected that the fund will also be matched by at least $30m in private sector investment.

Focussing on the manufacturing industry, the Innovation and Investment Fund will favour projects which offer long-term growth potential in order to grow the Illawarra’s industry base.

The minimum grant under the Fund is $50,000 and must be matched dollar-for-dollar by the successful applicant. There is no maximum funding limit.

Funds will be available for applications received through up to three rounds. The first round opens on 18 October 2011 and closes on 16 December 2011. Further information is available from the AusIndustry hotline on 13 28 46, by emailing hotline@ausindustry.gov.au and from the Illawarra Region Innovation and Investment Fund page at www.ausindustry.gov.au.