National Stronger Regions Fund now open
01 October 2014
Joint release with:
Hon. Warren Truss
Deputy Prime Minister;
Minsiter for Infrastructure and Regional Development
The Australian Government is getting on with delivering priority economic infrastructure projects throughout Australia with Round One of the National Stronger Regions Fund now open to receive applications.
The Fund will invest $1 billion over five years and support investment in the priority economic and infrastructure areas—from freight and transport projects to convention centres and major multi-purpose sports and community facilities.
These investments will have a focus on strengthening economies in Australia's most disadvantaged regions by improving their productivity, economic opportunity, employment, and workforce skills.
The Fund will enhance the economic growth, activity and output of our regions and sustain these gains into the future, by providing between $20,000 and $10 million for up to 50 per cent of the cost of projects.
The Fund will invest in important infrastructure projects nominated by local communities, ensuring Australia's regions are investing in their own future.
As well as providing direct investment in major projects that deliver economic and social benefits, the Fund will have flow on benefits of improving the capacity of organisations to deliver projects.
To best deliver critical infrastructure, the Fund will encourage the formation of strong partnerships that engage project proponents with the private sector, and local, state and territory governments.
Projects seeking funding will be considered in consultation with the Australian Government's National Infrastructure Committee, which has a strong interest in, and commitment to, harnessing the potential of Australia's regions.
The Guidelines for the National Stronger Regions Fund detail the type of project proposals sought, how to lodge an application, how assessments will be conducted, and critical programme dates.
To access the guidelines, and to lodge a Round One application, visit: www.infrastructure.gov.au/nsrf.