Illawarra Region Innovation and Investment Fund - Fact Sheet

Factsheet

IllawarraRegionInnovationand InvestmentFund

TheIllawarraRegionInnovationandInvestmentFund(IRIIF)isacompetitivemerit-basedgrantsprogramjointlyannouncedbytheAustralianandNSWGovernmentsinresponsetotherestructureofBlueScopeSteelLimitedatPortKemblaintheIllawarraRegion.

ForthepurposesofIRIIF,the‘IllawarraRegion’isdefinedastheWollongong,ShellharbourandKiamaLocalGovernmentAreas.

TheIRIIF’spurposeistosupportinnovativejobcreationprojectsthatstrengthentheIllawarra’sregionaleconomyandemploymentbase.The

$30mIRIIFisjointlyfundedbytheAustralianGovernment($20m),theNSWGovernment($5m)andBlueScopeSteel($5m)overthreeyearsto30

June2014.

TheminimumgrantunderIRIIFwillbe$50,000.ThereisnomaximumgrantlimitwithinthefundingavailableunderIRIIF.Grantsmaybeupto

50percentofeligibleexpenditureasdescribedintheIRIIFGuide forApplicants.

Whatprojectsareeligible?

Tobeeligible,proposedprojectsmust:

createnew,innovative,high-skilledjobsinthe

IllawarraRegion;

supporttheeconomicdiversificationofthe

IllawarraRegion;and

haveatleast$100,000ineligibleprojectexpenditure.

Fundingwillnotbeprovidedforretrospectiveactivities,forprojectsthatinvolvethemovement

ofbusinessactivityfromotherareasofAustraliatotheIllawarraRegionorforactivitiesundertaken

after30June2014.

Whocanapply?

Applicantsmustbeincorporated,haveanABN,beregisteredfortheGSTandbeliabletopayincometax.Applicantsmustbeabletodemonstratethattheyhavecommittedfunding,exclusiveofin-kindcontributions,totheproposedprojectthatisfreeofothergovernmentfundingandwhichatleastmatchesthefundingwhichisbeingsoughtfromtheIRIIF.

Jointapplicationsareacceptable,providedtheyhaveaprincipalapplicantwhoisboththeprimaryprojectproponentandaneligibleapplicant.

Thefollowingarenoteligibletoapply:

individuals,partnerships,ortrusts,howeveranincorporatedtrusteecanapplyonbehalfofatrust;

Commonwealth,StateandLocalGovernmentagenciesandbodies(includinggovernmentbusinessenterprises);or

entitiesthatdonotcomplywithStateorCommonwealthlaw,suchasEqualOpportunityforWomenintheWorkplaceAct

1999.

HowdoIapplyfortheprogram?ForanIRIIFapplicationkit,and/ortoregisteryourinterestinattendinganInformationWorkshop,

calltheAusIndustryHotline132846.Round2of

theIRIIFclosesat5.30pmAESTonFriday 25May

2012.Directionsonhowtoapplyaresetoutinthe

IRIIFGuide forApplicants.

Howwillanapplicationbeassessed?

AusIndustrywilldetermineeligibilityofapplications.EligibleapplicationswillbejointlyassessedbyAusIndustryandNSWTrade

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Investmentagainstthefollowingassessmentcriteria:

thelevelofneteconomicbenefittheproposedprojectwillbringtotheIllawarraRegion,including:

thenumberofsustainable,newjobsgeneratedthroughtheproject;and

thecontributionoftheprojecttowardsthediversificationoftheregion’seconomy;

demonstrationoftheskills,experienceandresourcestosuccessfullyundertaketheproject;

projectswhichdemonstratetheintroductionofnewinnovationsortechnologywillbefavoured;

thedemonstratedcapacityoftheapplicanttoprovidematchingfundingfortheproject;

thesustainabilityoftheoutcomesoftheprojectoverthelongertermwithouttheneedforongoingneedforgovernmentsupport;and

theneedforfunding–wouldtheprojectgoaheadwithoutGovernmentsupport?

AusIndustry’sassessmentsofeligibleprojectswillbeprovidedtotheIRIIFAdvisoryCommitteewhichwillproviderecommendationsofapplicationsto

besupportedundertheprogram.TheIRIIFAdvisoryCommitteewillcomprisearepresentativefromtheAustralianGovernment,theNSWGovernment,BlueScopeSteelandoneindependentmemberoftheIllawarrabusinesscommunity.TheAustralianMinisterforIndustry,Innovation,Science,,

ResearchandTertiaryEducationinconsultationwiththeNewSouthWalesGovernmentwillmakethefinaldecisionastowhetheranapplicationwill

befundedundertheIRIIF.

Whatwillacustomerbeaskedtodoifsuccessful?

SuccessfulcustomerswillneedtosignaFundingAgreementwiththeAustralianandNSWGovernmentsandBlueScopeSteelLimitedinordertoreceivegrantfunding.ThecomplianceandreportingrequirementsforcustomerswillbesetoutinthatAgreement.

Furtherinformation

Forfurtherinformationontheprogram,contacttheAusIndustryhotlineon

rnatively,seetheAusIndustrywebsiteat

ORcontact:

PeterMasterson,AusIndustryRegionalManager,IllawarraandSouthCoaston02-4254-5534.

NigelMcKinnon,NSWTradeInvestment,RegionalDirector,Illawarra/SouthCoaston02-

4225-905.

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