ANNOUNCEMENT 11 Nov 2021

On 11 November 2021, the Victorian Government invested AUD 100 million in the Regional Tourism Investment Fund for certain companies from that region. 

NUMBER OF INTERVENTIONS

1

  • 1 harmful
  • 0 neutral
  • 0 liberalising

SOURCE

Regional Development Victoria. Home. Grants & Programs. "Regional Tourism Investment Fund." Available at:
https://www.rdv.vic.gov.au/grants-and-programs/regional-tourism-investment-fund

Business Victoria. Home. Grants & Programs. Regional Tourism Investment Fund – Competitive Round. "Regional Tourism Investment Fund – FAQS." Available at: https://business.vic.gov.au/grants-and-programs/regional-tourism-investment-fund-competitive-round/faqs

Australian Government Business website. Home. Grants and programs. "Regional Tourism Investment Fund – Competitive Round VIC." Available at:
https://business.gov.au/grants-and-programs/Regional-Tourism-Investment-Fund-Competitive-Round-VIC

Business Victoria. Home. Grants & Programs. Regional Tourism Investment Fund – Competitive Round. "Regional Tourism Investment Fund — Competitive Round FAQs." Available at: https://business.vic.gov.au/grants-and-programs/regional-tourism-investment-fund-competitive-round/faqs

Inception date: 11 Nov 2021 | Removal date: 14 Jan 2022

Financial grant

On 11 November 2021, the regional government of Victoria allocated AUD 100 (USD 72) million to the Regional Tourism Investment Fund. The financial grant scheme is open to businesses with projects aimed at nature, First Peoples’, epicurean and arts and culture experiences. The grant application closes 14 January 2022. 

The objective of the grant funding is to broaden the tourism offerings in the region. According to the grant guidelines, the money should be used for:

  • new tourism infrastructure and/or significant enhancements that build on existing infrastructure
  • enabling infrastructure that directly and demonstrably unlocks private tourism infrastructure

Companies are eligible to receive between AUD 150,000 (USD 109,000) and AUD 10 (USD 7.2) million per project.

More specifically, projects focusing on "design, fashion and retail, and sport and events focused are being targeted through other Victorian Government investments." Please, see related state acts for Victorian Government investments in these areas. In addition, the regional government of Victoria has invested in the tourism industry in the past. Please, see related state acts.

AFFECTED SECTORS

 
N/A

AFFECTED PRODUCTS

 
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