Regional Jobs and Investment Package
The Australian Government has committed $220 million to the Regional Jobs and Investment Packages (RJIP) to help regions in Australia diversify their economies, stimulate long-term economic growth and deliver sustainable employment.
Ten pilot regions have been chosen to be a part of the Regional Jobs and Investment Packages. These regions have much untapped potential which, if unlocked could lead to new sources of growth, economic diversity and the opportunity to pursue export markets. RJIP aims to support these regions to meet the opportunities that will help to secure their economic future.
The packages will be delivered across the following ten regions:
Bowen Basin, will receive $30 million
New South Wales North Coast, will receive $25 million
New South Wales South Coast, will receive $20 million
Wide Bay Burnett, will receive $20 million
Goulburn Valley, will receive $20 million
Cairns, will receive $20 million
Geelong, will receive $20 million
Tasmania, will receive $25 million
Upper Spencer Gulf, will receive $20 million
Latrobe, will receive $20 million.
Local Planning Committees (LPC) in each region will help communities assess their region’s economic opportunities and competitive advantages and develop local investment plans. This will create a community-driven, government investment partnership between the local communities, business and the Australian Government.
Once a planning committee establishes a local investment plan, funding will be available through three streams:
Stream 1: Business innovation grants
Stream 2: Local infrastructure grants
Stream 3: Skills and training grants
Wherever possible, grant funding will be used to leverage funding from additional sources including from project proponents, private sector and other levels of government.
The Australian Government has established a Local Planning Committee (LPC) for Wide Bay Burnett and are developing a Local Investment Plan (LIP), with a view to a funding round commencing mid 2017.
The RJIP programme guidelines are being drafted and are expected to be finalised shortly.
NB: this information was first provided by Business Bundaberg