The West Australian government will provide $4.55 million in grants to support regional agrifood and processing businesses across the state, following the success of the pilot fund in 2018.
The McGowan Government’s Value Add Agribusiness Investment Attraction Fund will help food and beverage businesses and processors invest in new ag-tech or food-tech, and aims to drive job creation in a number of regions.
Around $12.2 million of additional investment and 120 jobs were created during the 2018 pilot of the fund, including Lucky Bay Brewing, which ahs since relocated and expanded its operations.
“There was a tremendous response to our pilot program, with overwhelming interest from 95 applicants resulting in 23 grants awarded to a range of companies from the Kimberley to the South Coast,” said Agriculture and Food Minister Alannah Mac Tiernan.
“There has been strong growth in WA's agrifood value adding and processing sector and these grants will help to maintain that momentum, enabling business build capacity, improve competitiveness, de-risk investment and pursue domestic and export opportunities.”
The fund will feature three programs, including:
- Capital expidenture: $3 million available of up to $300,000 per business towards value-add capital expenditure related to investment in expansion or relocation in regional WA;
- De-risking Investment: $550,000 available of up to $100,000 per business towards undertaking a feasibility study and/or approval costs for regional expansion or relocation investment; and
- Agrifood Technology Investment Fund: $1 million available of up to $100,000 per business to support investment in ag-tech or food-tech.
For more information on the Value Add Agribusiness Investment Attraction Fund grant, visit https://www.agric.wa.gov.au/VAAIAF.
