Regional Jobs and Investment Package
The Australian Government has committed $220 million to the Regional Jobs and Investment Packages (RJIP) to help regions in Australia diversify their economies, stimulate long-term economic growth and deliver sustainable employment.
Ten pilot regions have been chosen to be a part of the Regional Jobs and Investment Packages. These regions have much untapped potential which, if unlocked could lead to new sources of growth, economic diversity and the opportunity to pursue export markets. RJIP aims to support these regions to meet the opportunities that will help to secure their economic future.
The packages will be delivered across the following ten regions:
- Bowen Basin, will receive $30 million
- New South Wales North Coast, will receive $25 million
- New South Wales South Coast, will receive $20 million
- Wide Bay Burnett, will receive $20 million
- Goulburn Valley, will receive $20 million
- Cairns, will receive $20 million
- Geelong, will receive $20 million
- Tasmania, will receive $25 million
- Upper Spencer Gulf, will receive $20 million
- Latrobe, will receive $20 million.
Local planning committees will be established in each region to help communities assess their region's economic opportunities and competitive advantages and develop local investment. This will create a community-driven, government investment partnership between the local communities, business and the Australian Government.
Once a planning committee establishes a local investment plan, funding will be available through three streams:
- Stream 1: Business innovation grants.
- Stream 2: Local infrastructure grants.
- Stream 3: Skills and training grants
Wherever possible, grant funding will be used to leverage funding from additional sources including from project proponents, private sector and other levels of government.
The Australian Government is currently considering the establishment of a local planning committee in each region to develop a local investment plan. Appointment of members to the local planning committees will soon be finalised and the critical work to develop a local investment plan will commence with a view to funding rounds commencing early in 2017.
The RJIP programme guidelines are being drafted and are expected to be finalised shortly.
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