14 January 2012
DAFF12/278SJ
Joint media release
Parliamentary Secretary for Agriculture, Fisheries and Forestry Sid Sidebottom MP
Leader of the Government in the Senate, Minister for Tertiary Education, Skills, Science and Research, Acting Minister for Industry and Innovation Senator the Hon Chris Evans
Minister for Regional Australia, Regional Development and Local Government, Minister for the Arts The Hon Simon Crean MP
The Tasmanian Innovation and Investment Fund, which aims to boost local employment by backing innovative business ideas, has generated widespread interest with 112 businesses applying for assistance.
Confirming the strong interest in the Fund, the Acting Minister for Industry and Innovation, Chris Evans, said the number of applications showed local business people were very interested in building sustainable, successful enterprises throughout the state.
“The Gillard Labor Government has committed $8 million through the fund to help Tasmania adapt to the restructuring of the forestry sector,” Senator Evans said.
“This is about creating sustainable growth, industries and jobs for the region.”
The Minister for Regional Australia, Regional Development and Local Government, Simon Crean, said it was encouraging that the Fund, which is competitive and merit-based, has generated such widespread interest.
“It’s great that we have applications that have been received from a diverse range of organisations including agribusinesses, food producers, niche manufacturers and tourism operators,” Mr Crean said.
“The fund represents an exciting time for Tasmania as it looks to diversify its economy to meet the challenges of the future.”
The Fund attracted interest from across the state, with 50 applications from the north, 32 from the south and a further 32 from the northwest.
The Parliamentary Secretary for Agriculture, Fisheries and Forestry and Federal Member for Braddon, Sid Sidebottom, also welcomed the Fund’s popularity.
“It’s encouraging to see so many local organisations willing to invest in new activities and industries for the future of Tasmania,” Mr Sidebottom said.
“Broadening the local economy to create sustainable new jobs, particularly in regional areas, is an important priority.”
All project proposals must have at least dollar for dollar co-investment from the proponent to be eligible for a grant.
Grant applications, which closed last month, are now in the process of being assessed by an independent panel comprising representatives from the Tasmanian Department of Economic Development, AusIndustry and the Tasmanian business community.
It is anticipated that the successful grant applicants would be announced in the coming months.
The Fund is part of a $120 million package announced last August to support regional development projects under the Tasmanian Forests Intergovernmental Agreement.