Great news for the tourism and manufacturing sectors with the announcement of the new Economic Recovery Fund.
Tourism operators are encouraged to apply for the first round of the Economic Recovery Fund, which will provide $20 million to support Manufacturing Innovation and Regional Tourism Infrastructure Development.
Part of a $122 million funding initiative by the Department of Treasury and Finance, the first round includes Tourism Infrastructure grants from $150,000 up to $1 million or loans from $1 million up to $5 million are available – with both limited to up to 30 percent of the overall project cost.
This is a great opportunity for operators looking to invest in infrastructure projects, including new accommodation or expansions, enhancement of visitor engagement such as cellar doors, or development of new tour offerings utilising existing products and experiences.
Manufacturing Innovation grants are from $150,000 up to $2 million or loans from $2 million up to $5 million – limited to up to 30 percent of the overall project cost. Applicants to this stream must demonstrate: current advanced manufacturing knowledge, competitive neutrality, and a level of innovation and uniqueness of the project.
Applications are open until 15 December 2023.
More information and application details can be found via the Department of Treasury and Finance website.