- Posted by: Steve Wood
- Categories: Established business, News, SME
New LIFT Grants of up to $2 million each are available from the Vic Government to support job-creating projects in Melbourne’s North, West and South-East and the Geelong Region through the Local Industry Fund for Transition.
The program forms part of “Towards Future Industries: Victoria’s Automotive Transition Plan”, developed by the Victorian Government to support workers, communities and businesses affected by the closure of high-volume passenger-car manufacturing in the state.
Potential grant funding from $50,000 minimum up to $2 million maximum is available, with recipient companies having to make a 3:1 co-contribution. Projects with total eligible expenditure of less than $200,000 are not eligible. LIFT will support capital investment by existing local firms or by businesses wishing to set-up or expand operations in the communities most affected by the closure of the major car manufacturers.
As to be expected from any government process, applicant companies will need to outline the business case and benefits including investment required, expected returns, jobs created as well as any other economic benefits.
To be eligible for assistance, applicant companies must have an Australian Company Number (ACN), an Australian Business Number (ABN); the financial capacity to meet the co-contribution requirement ($3 for every $1 granted); provide financial reports for the last three financial years.
LIFT covers four geographical areas:
• LIFT Geelong – Local Government Areas of Colac-Otway, Golden Plains, Greater Geelong, Queenscliff and Surf Coast
• LIFT Melbourne’s North – Local Government Areas of Darebin, Hume, Moreland and Whittlesea
• LIFT Melbourne’s South East – Local Government Areas of Greater Dandenong, Kingston, Casey, Frankston, Knox, Monash, Whitehorse, Maroondah, Cardinia and Yarra Ranges
• LIFT Melbourne’s West – Local Government Areas of Wyndham, Melton, Hobsons Bay, Maribyrnong, Brimbank and Moonee Valley
Full details are in the LIFT Program Guidelines (PDF 71.09 KB).
Interested? Or Need help?
Please contact Roaring Success on 03 8640 9009 for a no-obligation chat about your project.