Investment Attraction Program Stream
High performing businesses underpin jobs growth, exports and economic competitiveness in regional Victoria. Achieving growth in the number, scale and/ or productivity of these regional businesses can have a significant impact on the economic output of the region in which they operate.
This Regional Jobs Fund program stream aims to grow existing or attract new businesses and industries to regional Victoria. It has a focus on regional competitive advantage and high-growth potential businesses and opportunities that create new jobs or retain existing jobs in regional Victoria.
The program will be flexible to industry needs but also targeted towards supporting activities that enable the realisation of an identified business growth opportunity. This includes footloose investment attraction, investment in facilities expansion and strategic industry investment planning.
The Investment Attraction program stream is based on the development of a strong and strategic understanding between Regional Development Victoria (RDV) and individual companies. The focus is on the company’s growth potential of companies and their ability to deliver jobs into regional Victoria.
The Victorian Government’s Back to Work plan has identified a number of high growth sectors which will be targeted for future job growth. The investment attraction program stream will focus on areas of regional competitive advantage and give preference to proposals that seek to invest and create jobs in potential high growth and emerging sectors including but not limited to:
- food and fibre
- professional services
- new energy technology
- medical technology, life sciences and healthcare
- transport, defence and construction technology
- international education
- the visitor economy.
Activities that will be considered
Through the Investment Attraction program stream support may be available for:
- new investment or bringing forward investment in existing regional businesses that creates jobs
- targeted investment assistance and incentives for businesses to move to, or expand into, regional Victoria involving new capital investment and job creation
- introduction of new manufacturing capability, new technology, process change or plant modernisation, which results in business growth and jobs creation
- opportunities to grow emerging businesses or diversify existing operations.
Activities that will generally not be funded
The following activities will generally not be considered for funding:
- projects based on stand-alone utility connections or upgrades to the boundary of the project site and other infrastructure external to the site
- relocation of employees and training where local capacity exists.
All project applications will be considered on an individual basis.
Applicants will be required to demonstrate the project’s ability to address each of the core Regional Jobs Fund (RJF) criteria outlined in the Regional Jobs Fund application guidelines.
Applications will also need to demonstrate:
- why the project requires government assistance to proceed
- how government assistance will influence an investment decision which is already under consideration.
Prior to submitting an application, applicants are advised to:
- read the RJF application guidelines and the relevant program stream information sheet carefully to establish eligibility
- read the terms and conditions for the funding offered
- discuss the proposed project with your local RDV office.