The Local Industry Fund for Transition (LIFT) aims to support workers, communities and businesses affected by the closure of major car manufacturing in Victoria.
LIFT grants support capital investment by businesses located, or wishing to locate, operations in Melbourne’s North, West and South-East and the Geelong Region to create sustainable jobs and contribute to the economic development in each region.
LIFT comprises four sub-funds covering the geographical areas of:
- LIFT Geelong – Local Government Areas of Colac-Otway, Golden Plains, Greater Geelong, Queenscliff and Surf Coast
- LIFT Melbourne’s North – Local Government Areas of Darebin, Hume, Moreland and Whittlesea
- LIFT Melbourne’s South East – Local Government Areas of Greater Dandenong, Kingston, Casey, Frankston, Knox, Monash, Whitehorse, Maroondah, Cardinia and Yarra Ranges
- LIFT Melbourne’s West – Local Government Areas of Wyndham, Melton, Hobsons Bay, Maribyrnong, Brimbank and Moonee Valley
Who can apply?
Businesses of all sizes are eligible to apply and joint applications are acceptable, provided there is a lead applicant that is both the primary project proponent and an eligible applicant.
LIFT will support capital investment by local firms or by businesses wishing to set-up or expand operations in the communities most affected by the closure of the major car manufacturers.
What is the funding amount available?
Grants of up to 25% of eligible project expenditure, with a maximum grant of $2 million. The minimum grant amount is $50,000.
How to apply
Applicants should consider their ability to meet the program requirements and how they will perform against the assessment criteria before applying. Applications are assessed against the key selection criteria.
There is a two-stage application process:
- Expression of interest (EOI), followed by
- an invitation by the Department to submit a formal application.
Eligible applicants must have:
- an Australian Company Number (ACN)
- an Australian Business Number (ABN)
- be located, or wishing to locate, operations in Melbourne’s North, West and South-East or Geelong Region
- financial capacity to meet the co-contribution requirement ($3 for every $1 granted)
- financial reports for the last three financial years
You are not eligible if:
- you are a Commonwealth, State and Local Government agency or body
- you are a publicly funded research institution
- you are a not-for-profit organisation
- you are a community-based organisation
- you are an individual, partnership, or trust (some trust circumstances granted)
- your total project expenditure is less than $200,000
- your project involves the movement of business activity from other areas of Victoria.
Proposed projects will be assessed against the following merit criteria:
- level of job creation
- level of net economic benefit
- demonstrated skills, experience and resources available to the business to successfully undertake the project
- sustainability of the project and need for Government support.
Preference will be given to projects that create jobs for local workers facing retrenchment due to the closure of automotive manufacturing operations. In the case of LIFT-Geelong, preference will also be given to projects that create jobs for workers retrenched due to the closure of Alcoa’s Point Henry and Angelsea operations.
Applicants will need to outline the expected returns from the investment, including jobs and other economic benefits.
EOIs can be submitted at any time until further notice. All applicants should expect to receive feedback on their EOI within approximately four (4) weeks of the date of its submission.
If a company is invited to submit a formal application, the application must be submitted within 90 days of the date of an invitation to apply.
Want to get the best possible result out of your application? Ask for an expert.
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. With successful and optimal results, Treadstone are an experienced, outcome focussed team. To ensure you have the best chance of getting grant funding contact us or call 03 9008 5937.
Not sure if your project will qualify? We can assist in your early planning stages to help ensure success.
Tags – Victorian Grants, LIFT, Manufacturing, Sustainable Jobs, Economic Development