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In 2018, the SA government established The Regional Growth Fund to help drive new economic activity in regional areas and create jobs to help strengthen regional communities. This involved the state government committing $150 million over 10 years to support regional South Australia. Business Advisor, Ryan Pistola, outlines the eligibility criteria for the cash grant for businesses in regional South Australia.
For 2020-2021, $15 million has been allocated for The Regional Growth Fund. The 2020-21 Fund will support:
Applicants can seek grants from $50,000 up to $2 million for the Competitive pool, whilst the Strategic Pool has no minimum or maximum amount. Applicants are expected to contribute at least half of the total financial costs of the project or make a strong case for why more public investment is required.
Applications to the Regional Growth Fund are limited to:
Business clusters are a group of two or more non-associated organisations, willing to share financial commitment to a project. They may be a joint venture, consortia, partnership or other model – or only collaborating for the purpose of this project.
For further information on the Regional Growth Fund, including how to apply and the assessment criteria, see the Frequently Asked Questions or you can call our office on (08) 8172 1444.
Source: South Australian Government | Regional Growth Funds | Access: https://www.pir.sa.gov.au/regions/regional_growth_fund (20/01/2021)
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