Geelong City Deal - Private Sector Business Enablement Fund
The Private Sector Business Enablement Fund (PSBEF) is a $23.4 million initiative that forms part of the Geelong City Deal – Shipwreck Coast Priority Projects – Twelve Apostles Precinct Redevelopment Project. The Australian Government is working in partnership with the Victorian Government Department of Jobs, Precincts and Regions via Regional Development Victoria (RDV), to jointly deliver this program.
The PSBEF looks to support public infrastructure projects in the Shipwreck Coast* precinct, located in the Shire of Corangamite, Victoria, that will activate significant private sector investment in the region.
- Strategic headwork services including potable water and sewer services
- Infrastructure upgrades for roads, power, bridges and communications throughout the Shipwreck Coast Precinct; and
- Site and project constraints
* The Shipwreck Coast, located within the Shire of Corangamite, spans a 28 kilometre stretch of coast from the town of Princetown to the Bay of Islands near Peterborough.
Objectives of Program
The PSBEF provides Australian Government financial assistance for public infrastructure projects with broad public benefit that can also support the activation of significant private sector investment in the Shipwreck Coast region.
The key principles of the Private Sector Business Enablement Fund are to:
- Enable and accelerate public and/or private sector investment for infrastructure
- Deliver infrastructure located in the Shipwreck Coast Precinct as defined in these guidelines
- Deliver infrastructure that aligns directly to enhancing the Shipwreck Coast Masterplan outcomes
- Leverage funding for projects in advanced stages of planning and approvals, where funding contributions and finances have been secured to ensure delivery of infrastructure in the Shipwreck Coast Precinct
- Deliver value for money in improving the visitor experience and improving the visitor economy yield for the region (such as through longer/overnight stays).
The fund is a competitive grant program comprised an initial round which opened on 29 April 2021 and closed on 18 June 2021.
Private Sector Business Enablement Fund projects will be identified through an Expression of Interest (EOI) process. Eligible projects will then be formally invited to apply.
Applications will then be assessed against PSBEF assessment criteria as outlined in the guidelines.
Geelong Regional Business Centre
Level 2, Harrison Place
237 Ryrie Street
Geelong VIC 3220
Tel: (+61 3) 5215 6000
Fax: (+61 3) 5215 6099