Stimulus Package to attract Business Investment

The Premier John Brumby today unveiled a $10 million Commonwealth and Victorian government stimulus package to create new jobs and attract business investment in communities affected by the 2009 Victorian bushfires. Mr Brumby said the new Victorian Bushfire Business Investment Fund would make available grants to support capital costs involved in setting up new businesses and expanding existing businesses to drive jobs, business confidence and economic growth in bushfire-affected regions.

Under the $10 million fund new businesses can apply for grants of between $50,000 and $4 million with the grants also available to support the expansion of existing businesses. The criteria for funding from the Victorian Bushfire Business Investment Fund will include:

• The level of economic benefit the project will bring;
• The number of sustainable, new full-time equivalent jobs created;
• The applicant’s access to skills, experience and resources; and
• The project’s longer-term sustainability without need for ongoing Government support.

We will seek further information from VBRRA and ensure this is covered off at the Flowerdale Forum II. If you would like assistance in applying for a grant let me know and we will look to get access to help or run a session for interested parties.

See the full announcement on the VBBRRA website.