Regional growth funds boosted

South Australia’s regional communities will get a $5m boost with the next round of the State Government’s Regional Growth Fund to unlock economic activity and create jobs now open for applications.

The Regional Growth Fund is for $160m over 10 years to support South Australian projects that help drive economic growth and strengthen regional communities. Minister for Primary Industries and Regional Development David Basham said applicants were able to seek grants from $50,000 up to $2m in the fourth round of funding.

“South Australia’s regions are a key economic driver for our state contributing around $29b per year and we want to continue to grow this figure,” Minister Basham said. “It’s important we do everything we can to drive economic growth in our regions, creating local jobs and our Regional Growth Fund plays a key part in this.

“The Marshall Liberal Government has provided more than $60m to businesses through the Regional Growth Fund so far – unlocking economic activity worth more than $315m. “Once completed these projects will deliver nearly 700 jobs, a tangible benefit to regional South Australia in addition to providing new or improved capital works, infrastructure and facilities.”

Minister Basham said the opening of this round of funding followed on from the launch of the first South Australian Government Regional Development Strategy which laid out a clear pathway to work positively and strategically with communities to grow the regions. “This initiative is part of our Food, Wine and Agribusiness Sector Plan which maps out the ambitious target to grow industry revenue to $23b by 2030,” he said.

“While drought, bushfires and COVID-19 have presented challenges for our regional communities and businesses, the projects funded to date are bringing new jobs and opportunities to the regions. “This is a key plank of our Growth State initiative which aims to achieve an increase in Gross State Product to an average annual rate of 3% per annum.”

Those invited to apply for funding in the competitive pool are local government bodies, incorporated associations, registered charities/ company limited by guarantee, cooperatives and business clusters of two or more non-associated organisations who are sharing financial commitment to the project.

Go to www.pir.sa.gov.au/regionalgrowthfund for more details about the Regional Growth Fund.

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