The $122 million Economic Recovery Fund (ERF) aims to assist businesses and industry in key areas to grow secure, well-paid jobs, improve productivity, increase exports, and support innovative, value-adding technologies in South Australia.
There are two primary streams available for businesses:
- Manufacturing Innovation: This stream is tailored for businesses aiming to drive advanced manufacturing and foster unique projects in the region. Grants are available from $150,000 up to $2 million, and loans range from $2 million to $5 million. The South Australian Government is committed to co-contributing up to 50% of the total project cost under this stream.
- Regional Tourism Infrastructure Development: Focused on the tourism sector, this stream is designed to enhance tourism across several key regions in South Australia, including Barossa, Clare Valley, and others. Grants for this stream range from $150,000 to $1 million, and loans are available from $1 million up to $5 million. Here, the government will co-contribute up to 30% of the total project cost.
With Round 1 applications having opened on 18 October 2023, businesses are encouraged to apply by the closing date of 15 December 2023, 5 PM ACST.
For businesses considering this opportunity, it’s vital to ensure they’re based in South Australia with an active ABN. All applications should be aligned with the ERF Guidelines and the guidelines specific to each funding round. The overarching goal of projects should be to drive wider economic benefit for South Australia.
Interested businesses can find more information and apply at https://www.treasury.sa.gov.au/Growing-South-Australia/economic-recovery-fund