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Road construction site in Australia

Growing Regional Economies Fund

  • Applications Open:  until 23 May 2023
  • Grants: $2 million – $30 million

The Growing Regional Economies Fund seeks to urge prosperity and economic development in regional NSW, expand the appeal of investing in regional NSW, finance investment in major transformational projects that increase employment opportunities in regional areas and assure that regional communities have the infrastructure and services required for sustainable growth.

Key Requirements

The eligible applicant is required:

  • To have a financial co-contribution of at least 25% of the total grant amount.
  • To co-contribute in cash and cannot be made in goods or commodities, and evidence of the cash co-contributions must be provided as part of the application.
  • To co-contribute using their own funding towards the projects and cannot be made using funding received from the NSW Government

The eligible applicant must demonstrate the main criteria include:

  • Community impact
  • Strategic alignment
  • Deliverability and affordability
  • Economic outcomes

Broader factors that may be considered during the assessment process include the following:

  • Significance of a project to the local economy and community
  • The overall amount of funding available
  • Appropriateness of a project for other government funding opportunities
  • Geographical distribution of projects across regional NSW
  • Alignment with existing NSW Government policies and strategies

What is eligible for funding?

The eligible projects include:

  • Research and development and/or education facilities to drive transformation in engine industries
  • Enabling infrastructure such as bridges, roads, and services to develop investment precincts and housing that can be linked to economic growth and employment
  • Airport improvements and expansions
  • Enabling infrastructure that will support increased in investment, land activation, and employment activities.

Eligible projects must be located in one or more of the 93 regional NSW LGAs, on Lord Howe Island, or in the Unincorporated Far West region.

What companies are eligible for funding?

The eligible applicants are:

  • Australian universities
  • Local councils
  • Joint organisations of councils, or regional organisations of councils
  • RDA Far West (in its capacity as a service provider for an eligible location not covered by a local government entity)
  • Local Aboriginal Land Councils.
  • Lord Howe Island Board (in its capacity as a service provider for an eligible location not covered by a local government entity)

Is this grant competitive or entitlement based?

Competitive. Your application will be assessed among other applications by a judging panel.

How can I increase my chances of winning this grant?

By engaging an accredited government grants consultant, such as Avant Group.

Competitive grants often require significant business case development and project analysis to support the application, this may include detailed presentations supporting the project’s merit, projected sales, cost-benefit analysis and more.

As part of your engagement with Avant Group, your account manager will assess the required documents and will provide the following as needed to support your grant submission.

Grant application writeup including a detailed presentation illustrating how the grant funding will contribute to your project, how the funding will contribute to the project’s budget, a project milestone plan, delivery timeline, impact on employment if applicable and a breakdown of the management and leadership team for the project

  • Industry analysis presentation
  • Competitor Analysis Presentation
  • Marketing and Sales Analysis Presentation
  • 3-5 year Cashflow Forecast
  • 3-5 year Balance Sheet Forecast
  • Cost-Benefit Analysis of Grant Funding
  • End-to-end grant application including information collating, analysis and application writing
  • CAPEX (Capital Expenditure) cost-benefit analysis
  • Stakeholder relations and Risk Mitigation Plans
  • Any other relevant forecasting that will support your application

How can I get help with my application? Or know if I’m likely to win funding?

Avant Group offers a no-obligation assessment of your eligibility for funding and will assess your likelihood of a successful grant application.