ANNOUNCEMENT 25 Mar 2021

On 25 March 2021, the Australian Department of Infrastructure, Transport, Regional Development, and Communications increased the funding for the RISE Fund by AUD 125 million.

NUMBER OF INTERVENTIONS

1

  • 1 harmful
  • 0 neutral
  • 0 liberalising

SOURCE

The Australian Department of Infrastructure, Transport, Regional Development, and Communications: Office for the Arts. Home. "COVID-19 Update." Available at:
https://www.arts.gov.au/covid-19-update

The Australian Department of Infrastructure, Transport, Regional Development, and Communications: Office for the Arts. Home. Funding and support. "Restart Investment to Sustain and Expand (RISE) Fund." Available at:
https://www.arts.gov.au/funding-and-support/rise-fund

Australian Government Grant Connect. Home. "Forecast Opportunity View - RISE2020." Available at:
https://www.grants.gov.au/Fo/Show?FoUuid=C6D82B30-A197-6E0D-6E2A-805DFF9D1230

Inception date: 25 Mar 2021 | Removal date: 31 Dec 2021

Financial grant

On 25 March 2021, the Australian Department of Infrastructure, Transport, Regional Development, and Communications announced an AUD 125 (USD 94.5) million increase for an existing grant scheme that targets the arts and entertainment sectors, entitled Restart Investment to Sustain and Expand (RISE) Fund. Given that the previous funding was AUD 75 (USD 56.7) million, the new total is now AUD 200 (USD 151) million.

The objective of the grant funding is to assist industries that are negatively impacted as a result of the COVID-19 pandemic. More specifically, the RISE Fund "support[s] artists and organisations through the delivery and presentation of activities across all art forms to audiences across Australia. Projects that target audiences in outer metropolitan, regional and remote areas will also be taken into account, as well as projects that involve tours and use local regional pre-production and production, services and support acts." Beneficiaries are able to obtain grants ranging between AUD 75,000 (USD 51,500) and AUD 2 (USD 1.4) million.

To view additional information on the RISE Fund, please, see related state acts.

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