The fund provides grants of $10 million or more for projects that will support long term economic growth and create jobs in regional areas.
There have been 16 projects selected to progress to the next stage of the fund and have been asked to submit a full business case for approval.
Some projects that have reached this stage include the construction of a highway in WA from the Great Northern Highway to the Northlink WA project with access to the South Bullsbrook Industrial Precinct and the development of a flood levee in South Rockhampton.
Deputy Prime Minister and Minister for Infrastructure, Transport and Regional Development Michael McCormack said the Regional Growth Fund will unlock economic opportunities across regional Australia.
“I am pleased to announce the government has selected 16 projects to progress to the next stage. These projects are one step away from receiving funding and making the regions where they are located even stronger and more resilient,” Mr McCormack said.
Minister for Regional Services, Local Government and Decentralisation Bridget McKenzie said the first stage of the assessment process has been highly competitive with more than 300 applications received from state and territory governments, local governments, businesses and not-for-profit organisations.
“The 16 projects proceeding to stage two will increase manufacturing and tourism opportunities in these regions and most importantly, create jobs both immediately and in the longer term,” Senator McKenzie said.
Assistant Minister to the Deputy Prime Minister Andrew Broad said a key focus of the Regional Growth Fund is connectivity, tourism and industry development.
“Funding requests for these projects range from $10 million to $29 million, making the Regional Growth Fund a significant investor in our regions,” Mr Broad said.