Regional Solutions is a performance-based grant developed to support job creation in regional NSW, and forms part of the Regional Jobs Now portfolio.
This is a pilot program is now open and will run as a competitive process where applicants initially complete an Expression of Interest (EOI) form for all programs in the Regional Jobs Now portfolio. Round 1 expression of interest closes 9th Dec 2016 at 5pm.
Who is eligible?
Regional Solutions will only be available where:
- You are able to demonstrate that your project will accelerate the growth of your business by directly adding the equivalent of at least 10 full-time jobs in regional NSW to your business within two years of project commencement.
You must also:
- Have an ABN number
- Have a registered office/principal place of business in Australia
- Be operating for profit
- Demonstrate a minimum 1 year of operations (such as through financial statements)
- Not have already committed to funding the stage of the project which is the subject of the application
- Be solvent and not under criminal investigation or have a history of bankruptcy or adverse findings (including company directors)
- Have all ATO requirements, payroll tax and superannuation contributions up-to-date
- Be able to provide financial statements from the 2015/16 financial year. Financial statements from 2014/15 will also be requested, if available.
What types of projects could be funded?
Projects with the potential to directly create the equivalent of at least 10 full time new jobs in regional NSW, within two years of project commencement, may be considered for Regional Solutions.
Suitable projects include business expansion and the opening of new offices in regional NSW. Additional priority will be given to those projects in Jobs for NSW focus segments and regional priorities identified by the Office of Regional Development.
Funding is not available for projects where existing jobs in NSW are relocated to regional areas, or are made redundant to create new positions in regional NSW.
How much funding can I apply for?
There is no limit to the funding amount you can request, however this is a competitive funding round and applications will be assessed and ranked on merit.
In some cases, amounts requested may be reduced based on the available funding. Funding is capped at 50% of the total project costs.
How will projects be assessed and selected?
- Expression of Interest Stage
In the first instance, interested applicants will need to submit an Expression of Interest (EOI) for the Regional Jobs Now package.
If your business is eligible for the Regional Solutions performance-based grant, you will be notified and advised of the timeframe and procedure for submitting a Regional Solutions Full Application.
Jobs for NSW will provide eligible businesses with the full application form for completion shortly after the EOI has closed.
If your project is eligible for assistance through a Jobs for NSW product other than Regional Solutions, Jobs for NSW will contact you to advise you of that product’s application process.
- Full Application Stage
Full applications that are eligible will be assessed as follows:
- Jobs for NSW will rank and prioritise projects on the following basis:
- Focus Segment: That is, ‘does the project fall within one of Jobs for NSW’s focus segments listed below?’
- Food and other quality goods to Asia
- International Education
- Digital innovation
- Creative industries
- Financial and professional services
- Infrastructure and smart cities
- Advanced Manufacturing
- Environmental technologies
- Life sciences
- Regional HQs of multinationals
See Jobs for NSW’s Jobs for the Future report provides further information on these focus segments.
- Regional impact: That is, ‘does the project align with the Department of Industry’s Regional Development Framework?’
- The highest ranked projects will proceed to assessment against the following Effectiveness Criteria:
- Marginal impact of assistance: That is, ‘would the project outcome be achieved in the absence of NSW Government assistance?’
- Job creation: That is, ‘does the project create additional jobs in NSW?’
- If your project meets the effectiveness criteria, your application will proceed to a cost benefit analysis.
The Full Application stage is a competitive process. Jobs for NSW will recommend projects to the Jobs for NSW Board for consideration based on relative assessments of projects against the Full Application stage criteria. You will be informed of the outcome of your application prior to any public announcements being made regarding the successful applicants.
Important dates for the Regional Solutions Pilot
|Call for EOIs||7 November 2016|
|EOIs close||9 December 2016, 5pm|
|Inform applicants of EOI outcome||Within 5 working days after receipt of EOI|
|Regional Solutions Full Application forwarded to suitable applicants||16 December 2016|
|Regional Solutions full applications close||10 February 2017|
|Announcement of successful applications||Late April 2017|
Can I discuss my application with BDMs?
NSW Department of Industry, Skills and Regional Development (Department of Industry) have Regional Business Development Managers (BDMs) across NSW who will be available to provide ongoing advice and support for your application.
In particular, BDMs can answer queries and provide guidance on how to complete your application. However, BDMs will not be able to assist in the writing of EOIs or applications. The information provided by BDMs will be of a general nature and does not constitute financial advice.
Please refer to the Department of Industry’s website for the contact details of the BDM in your area.
How will successful projects be funded?
If an application is successful, you will be required to enter into a funding agreement with Jobs for NSW that will include performance based milestones.
When must the project commence and be completed?
Projects must commence within six months of the execution of the funding agreement and must be completed within two years of the execution of the agreement. Any alternative arrangements would be subject to a strong business case and Jobs for NSW’s approval.
Want to get the best possible result out of your Application?
Working with Treadstone means you get the maximum rebate you are entitled to with minimum risk and effort. We provide expert advice and take care of your application, allowing you to continue to focus on your essential business operations. Treadstone are an experienced, outcome focused team with a proven track record of success.
To ensure you have the best chance of getting grant funding contact us or call 03 9008 5937.