Subsidised loans available for Marysville’s recovery
Monday, 05 December 2011
Subsidised loans to support investment in the Marysville and Triangle area are now available, Deputy Premier and Minister for Regional and Rural Development Peter Ryan announced today.
Mr Ryan said the Victorian Government was providing $4.4 million to attract new businesses into the region and support expansion or rebuilding of businesses locally.
"The objective of the Marysville and Triangle Investment Subsidy is to stimulate new investment and economic activities in the fire-affected areas of Marysville, Narbethong, Buxton and Taggerty," Mr Ryan said.
"The Marysville and Triangle Investment Subsidy is aimed at supporting businesses in tourism, visitor accommodation, rental accommodation, some retail accommodation, restaurants and light industry.
"The subsidised loans are available to businesses that have not yet obtained loan approval for their investment and have not commenced construction.
"Marysville and Triangle Investment Subsidies of up to $75,000 will be available per annum, per individual applicant, or per project over a maximum five year period."
Mr Ryan said the Government was concerned to ensure business recovery in bushfire affected communities like Marysville remained a priority.
"There are promising signs of economic recovery and business confidence returning in Marysville and Triangle as a result of investment in infrastructure, events and tourism promotion," Mr Ryan said.
"An expression of interest process for the proposed Marysville Hotel and Conference Centre commenced in October, new visitor facilities and exciting summer program were launched at Lake Mountain recently and works to reinstate facilities at Stevensons Falls continue apace."
Mr Ryan said the Marysville and Triangle Investment Subsidy will be available through Rural Finance, with funding provided through the government's $1 billion Regional Growth Fund.
Loan applications close on 30 June 2012. For more information visit www.ruralfinance.com.au
