Local Industry Fund for Transition (LIFT Geelong)

February 9 2016

The Victorian Government is supporting the communities most affected by the impending closure of major car manufacturing in Victoria.

LIFT Geelong

  • is a competitive industry fund and supports job-creating projects in the G21 region.
  • replaces and builds on the Geelong Region Innovation and Investment Fund (GRIIF).
  • is a $7.5million fund that could support capital investment by businesses located, or looking to locate in the G21 region.
  • grants of up to $2 million are available to support projects that create sustainable jobs and economic activity in the Local Government Areas of Colac Otway, Golden Plains, Greater Geelong, Queenscliffe and Surf Coast.

What types of projects are eligible?

Eligible project expenditure may include:

  • Purchase of equipment or machinery to assist business establishment or expansion
  • Direct labour costs
  • Construction or fit-out of a new building or extension to existing premises.

How are applications assessed?

Expressions of interest may be submitted at any time.  Eligible applicants proposing projects that align with the program objectives will be invited to submit a formal application to the program.  Applicants are required to submit their formal applications within 90 days of receiving an invitation to apply.

Proposed projects will be assessed against the following merit criteria:

  • Level of job creation
  • Level of net economic benefit
  • Demonstrated skills, experience and resources available to the business to successfully undertake the project
  • Sustainability of the project and need for Government support.
  • Preference will be given to projects that create jobs for local workers facing retrenchment due to the closure of automotive manufacturing operations and to the closure of Alcoa’s Point Henry and Anglesea operations.
  • All grants must be matched by a minimum cash co-contribution of $3 for every $1 granted.  Projects must have a total eligible expenditure of more than $200,000.

Guidelines

For more information, including the LIFT Guidelines, visit www.business.vic.gov.au/LIFT