NSW Regional Investment Activation Fund (RIAF) Stream 2

The NSW Regional Investment Activation Fund will co-invest with eligible entities on catalytic projects that will deliver significant economic, social and/or environmental benefits for a priority regional industry or location.

The minimum grant under the NSW Regional Investment Activation Fund is $1 million. The maximum grant amount is $10 million.

Unlike stream 1 of the NSW Regional Investment Activation Fund, which is a competitive application process, stream 2 is an open, non-competitive grants program where applicants can contact the Department of Regional NSW to apply for funding.

This may also be the way to apply if you missed the application deadline for the NSW Regional Investment Activation Fund on 14 November 2022.

NSW Regional Investment Activation Fund Grant Objectives

The objectives of the grant are to:

Support the growth of existing industries and the establishment of new/emerging industries where regional NSW has a strong actual or potential competitive advantage
Activate the economic potential of Special Activation Precincts, Regional Job Precincts, Renewable Energy Zones, hydrogen hubs and other priority locations through increased private sector investment
Create new high quality employment opportunities
Support the shift towards higher-value-added activities and participation in global value chains and supply chains
Promote collaboration between businesses, education and research institutions and other parties through sharing of knowledge, resources and infrastructure.

Eligibility

To be eligible for funding through Stream One of the Regional Investment Activation Fund, your project must:

Be located in one of the 93 regional NSW local government areas. Note projects located in Greater Sydney (including the Blue Mountains, Hawkesbury and Wollondilly), Newcastle or Wollongong Local Government Areas are not eligible.
Demonstrate the project would not occur in regional NSW at all, or in the same timeframe, without government investment support.
Be delivered by 30 May 2025.
Deliver significant economic, social and/or environmental benefits for an industry or region.

Your business must have an ABN and be financially viable and show you can contribute in cash at least 50% of the project cost.

Businesses whose primary operation is in the following industries are not eligible for funding:

hospitality, except where a proposal is unique to the existing market and considered regionally significant and/or iconic
retail
localised trades
healthcare, childcare and social services
residential housing construction that serves the local or regional community
waste services, except where a proposal is providing unique services, such as unserviced or under-serviced waste stream, and provides services beyond the local or regional area.
administrative services that serve only the local or regional community.

Eligible costs

The grant money may be used for capital and other expenses directly related to the delivery of eligible projects including:

purchase of land
purchasing, constructing, installing and/or commissioning new plant, equipment and/or machinery
purchasing, constructing, establishing and/or fitting out new facilities, buildings or hubs
purchasing technology and/or intellectual property required to undertake the project
upgrading existing facilities, buildings, plant, equipment, machinery and/or technology where necessary to deliver the project and achieve its outcomes
external project management and administration costs up to 10% of project cost
contingency costs up to 25% of project cost

Application Process

Applications will be assessed individually, without reference to the comparative merits of other applications. Stream 2 aims to provide increased flexibility to secure investments that are time sensitive and strategically significant for a priority industry or location.

Stage 1 of the process is a pre-submission meeting. If this is successful, you will be invited to submit a Preliminary Application.

If this is successful, you will be asked to make a detailed application.

Learn More

Click here to:

learn more about the NSW Regional Investment Activation Fund; and to,
start the process via a pre submission meeting.

Note the closing date for submission of an EOI for Stream 2 of the NSW Regional Investment Activation Fund is 31 December 2024.

Wayne Wanders is an experienced Business Advisor skilled in analysing business financial performance and cash flow. Wayne may also be able to assist you in preparing your grant application. Contact Wayne below for a free no obligation session.

Also, if you want some more information on grants, contact me below

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