The McGowan Government is investing in job-creating value adding agrifood businesses, with grants now open to support business expansion in the regions.
A total of $4.55 million is available from the McGowan Government's Value Add Agribusiness Investment Attraction Fund to assist food and beverage businesses and processors to invest in expansion, relocation or the adoption of new ag-tech or food-tech.
A 2018 pilot of the fund generated $12.2 million of additional investment, which is projected to create an additional 120 jobs throughout the State.
Agriculture and Food Minister Alannah MacTiernan launched the new round of funding today at the official opening of Lucky Bay Brewing in Esperance, which received funds through the pilot program to relocate and expand its operations.
The fund includes three programs:
- $3 million available of up to $300,000 per business towards value add capital expenditure related to investment in expansion or relocation in regional WA;
- $550,000 available of up to $100,000 per business towards undertaking a feasibility study and/or approval costs for regional expansion or relocation investment; and
- $1 million available of up to $100,000 per business to support investment in ag-tech or food-tech.
For more information and to apply for a Value Add Agribusiness Investment Attraction Fund grant, visit https://www.agric.wa.gov.au/VAAIAF. Applications close at 5pm on March 9, 2020.
As stated by Agriculture and Food Minister Alannah MacTiernan:
"There was a tremendous response to our pilot program, with overwhelming interest from 95 applicants resulting in 23 grants awarded to a range of companies from the Kimberley to the South Coast.
"Successful WA food, fish and beverage business applicants tell us the grants have given them the confidence to invest and grow their businesses: companies like Lucky Bay Brewing, which has been able to keep its doors open by moving to a more suitable location on the tourist trail and pursue expansion plans that will generate new jobs and stimulate the local economy.
"The leverage from the pilot program was impressive, attracting four times as much investment from the private sector, driving diversification, regional economic growth and creating more than 100 new jobs.
"The McGowan Government's Value Add Agribusiness Investment Attraction Fund will generate new jobs in the regions, supporting businesses to invest, diversify and pursue new opportunities.
"There has been strong growth in WA's agrifood value adding and processing sector and these grants will help to maintain that momentum, enabling business build capacity, improve competitiveness, de-risk investment and pursue domestic and export opportunities."
Minister's office - 6552 6200
