Businesses looking to invest in new projects or expansion opportunities in Western Australia are reminded applications close soon for a $6.5 million grants program.
The Value Add Investment Grants program, delivered by the Department of Primary Industries and Regional Development, is supporting investment and growth opportunities for the Western Australian food, fibre, beverage and value add processing industry.
Agribusiness, Food and Trade Executive Director Liam O’Connell said the incentive scheme targeted value-adding businesses with growth potential from across regional and metropolitan Western Australia.
“This state-wide program aims to enable diversification, economic growth and employment by supporting value adding and processing agribusinesses to invest in new projects or expansion plans that build competitiveness, scale, growth and jobs,” Mr O’Connell said.
“While relatively small compared to other States and Territories, our food, fibre and beverage manufacturing industry is growing and is relatively job intensive, with high direct and indirect benefits for the broader WA economy.”
The grants include:
Funding Stream One - Capital expenditure - up to $6 million is available for grants of between $250,000 and $750,000 to support capital expenditure related to the expansion of value adding to primary production in WA.
Funding Stream Two - De-risking investment - up to $500,000 is available for grants of between $50,000 and $150,000 to contribute towards the cost of de-risking investment. This includes contributing to the costs of feasibility studies, business plans and approvals to expand in, or relocate to, WA.
Eligible businesses are required to match the grant funding dollar-for-dollar.
Applications close 5.00pm (AWST) Friday, 9 October 2020.
The grants are a key component of the State Government’s $16.7 million four-year Food and Beverage Fund, which aims to stimulate growth and support economic recovery from COVID-19.
More information is available here or by phoning 08 9368 3853.
Jodie Thomson, media liaison +61 (0) 8 9368 3937