$297 million fund for Building Better Regions in the New England Electorate
23 Nov 2016
- BBRF will invest in projects under two streams – the Infrastructure Projects Stream for projects that involve the construction of new infrastructure, or upgrade or extension of existing infrastructure and the Community Investments Stream for local events and activities, strategic regional plans and leadership and capability building activities.
- Projects in remote and very remote areas will receive a loading on their project score, and also will not need to produce 1:1 matching funding.
- This is a fund for rural, regional and remote communities.
The Deputy Prime Minister and Member for New England, Barnaby Joyce said the Coalition Government’s new Building Better Regions Fund will invest in projects that will create jobs, drive economic growth and build stronger rural, regional and remote communities into the future.
“Locals know our community best and the BBRF gives community groups and councils the opportunity to think outside the square.
“I look forward to seeing what projects local communities in New England Electorate feel will best strengthen our region,” Mr Joyce said.
Funding under the BBRF will be available in two streams:
The Infrastructure Projects Stream will invest in projects that involve the construction of new infrastructure, or upgrade or extension of existing infrastructure.
The Community Investments Stream will invest in local events and activities, strategic regional plans and leadership and capability building activities.
“There are key differences between the new Building Better Regions Fund and previous funds,” Mr Joyce said.
“Projects in major capital cities will not be eligible under the Building Better Regions guidelines. This is a Fund for rural, regional and remote communities.
“A brand new source of funding will be available for community projects – a Community Investments Stream.
“The Community Investments Stream might help expand a local festival, attract a theatre production or major sporting event to the region to bring more visitors to the town, or it might be leadership or business training for young locals.”
Mr Joyce said a new social benefit criteria will allow applicants to show how their project will make their region a more attractive place to live, or improve community connections.
“Projects in remote and very remote areas will receive a loading on their project score, and also will not need to produce 1:1 matching funding.
“Also, projects will now be assessed against projects of similar size, so small community projects are not competing against huge projects.
“We’ve designed the Building Better Regions Fund to back projects that help build the kinds of communities our children and grandchildren either want to stay in or come back to.
“When the Government invests in a region it builds confidence across the entire community. Confidence is key in regional communities,” Mr Joyce said.
The new $297 million fund was launched by the Minister for Regional Development, Fiona Nash, who said the BBRF will deliver infrastructure projects and community activities located outside the major capital cities.
The Program Guidelines for the Building Better Regions Fund outline the type of project proposals sought, how to lodge an application, how assessment will be conducted, and critical program dates.
The Building Better Regions Fund replaces the National Stronger Regions Fund which has now closed.
To access the BBRF guidelines, and to lodge an application from 18 January 2017, visit www.business.gov.au/bbrf