The scheme’s initial round received exceptional interest, with 23 grants being awarded to companies from the Kimberley to the South Coast. The grants are expected to generate more than $12 million in total co-investment across a range of industries, and create more than 120 jobs in the regions. Of the 23 grants, 16 grants totalling $2 684 000 will support investment in expansion, relocation or new value adding production facilities and a further seven grants totalling $486 216 are to assist recipients to undertake investment de-risking activities.
The fund aims to create jobs and drive economic growth, productivity and capability of this growing industry sector, by supporting WA’s food, beverage and value add processing industry by enabling businesses to confidently invest in new projects, technology or expansion opportunities.
Round two consists of three components:
- Capital Expenditure
Up to $3 million available. Up to $300 000 per business towards value add capital expenditure related to investment in expansion or relocation in regional WA.
- De-risking Investment
Up to $550 000 available. Up to $100 000 per business towards de-risking investment in value adding enterprises. This includes, but is not limited to, contributing to costs occurred in businesses undertaking feasibility for regional expansion or relocation; costs associated with undertaking approvals for regional expansion or relocation.
- Agrifood Technology Investment Fund
Up to $1 million available. Up to $100 000 per business to support value adding businesses to invest in globally competitive ag-tech and food-tech, including technology that can reduce input costs and environmental impact; improve productivity; and ensure product quality, product provenance and animal welfare.
Businesses are required to provide matched funding with a minimum of $1 to $1 co-contribution; and how evidence of material growth that the grant funding would support.
Applications closed 5.00pm (AWST) Friday, 13 March 2020.
For more information about the eligibility criteria, view the attached guidelines and frequently asked questions or alternatively contact an Agribusiness Food and Trade team member by phoning +61 (0)8 9368 3853 or emailing firstname.lastname@example.org