Capital Investment stream – Funding for Agribusinesses 2022
This stream provides funds to eligible applicants for the implementation of capital investment projects to expand, diversify or relocate their value adding and processing operations in WA.
Projects must align to the stated objectives of the VAIG’s and be anticipated to be in the implementation and/or capital expenditure phase of the investment no earlier than January 2023.
What we are looking for
Capital investment funding assistance may be available for new investment or bringing forward planned investment projects in existing businesses that involve value adding post harvest or production, which is defined as any activity that transforms WA primary production from its original or raw form (i.e. commodities) into a state which is perceived as more valuable to the end consumer (i.e. products), thereby accruing higher margins to the producer. This can include:
- Investments in new manufacturing capability or processing facilities, new technology or plant modernisation which results in reducing WA’s reliance on imported products, supports business growth, fosters innovation and creates jobs;
- Investments that improve sustainability, reduce the environmental impact of the manufacturing or processing activities being undertaken or contributes to improvements in broader environmental, social, and governance outcomes;
- Investments that enable expansion or diversification of business operations that relate to value adding to primary production in WA; or
- Businesses looking to relocate operations to, or expand existing operations in, WA.
Up to $6 million is available for individual grants of $250,000 to $750,000. Recipients must provide at least $1 of cash co-contribution for every $1 of funding (1:1) received.
How do I apply?
Applying for funding is a two-stage process:
- Stage One is an open Expression of Interest process (EOI) allowing businesses to submit a short project summary. No funding will be awarded at this stage. Projects will be assessed and those considered to have high potential will be invited to submit a detailed grant application in Stage Two. EOI Applications open 9.00am on Wednesday, 27 April 2022.
- Stage Two will be a closed, invite-only grant process for the successful projects from Stage One. It will be a competitive process with all applications assessed on their merits by an independent assessment panel.
EOI Applications open 9.00am (AWST) Wednesday, 27 April 2022 and will close 5.00pm (AWST) Wednesday, 22 June 2022. See the complete timeline below:
| Opening | Closing | ||
| Stage One | Expression of Interest Application | 27 April 2022 | 22 June 2022 |
| Stage Two | Grant ApplicationInvited recipients only | 17 August 2022 | 12 October 2022 |
We expect to announce successful Capital Investment grants recipients in late 2022 and commence projects in early 2023.
Find out about grants awarded under the Value Add Investment Grants Round One here.
Eligibility
To be eligible to receive a grant, your application must be related to value adding to primary production in WA; and the applicant must meet ALL of the following criteria:
- Be a private sector business (including incorporated trustees), public companies, grower cooperatives, or similar organisations that have an ABN, and are registered for GST;
- The project be located in, or looking to relocate to, WA including the Perth-metropolitan area;
- Be capable of entering into a legally binding agreement with the WA Government;
- Have the financial capacity to fund the minimum cash contribution;
- Have been in operation for a minimum of two years (or similar established track record);
- Projects commencing no earlier than January 2023 and can be delivered by the 30th June 2024. and will commence within six months of executing a funding agreement (which will include agreed milestones and project deliverables) with the State.
Business clusters, consortiums, and collaborations are also encouraged to apply where a lead business is defined that meets the above criteria and applies and accepts responsibility for contractual obligations on behalf of the business group.
More information
Find out more detailed information on the Program in the Guidelines, the set of Frequently Asked Questions and the Application Form or contact an Agribusiness Food and Trade team member by phoning +61 (0)8 9368 3853 or emailing aftprograms@dpird.wa.gov.au.
Apply before: June 22, 2022
SOURCE https://www.agric.wa.gov.au/industry-development/capital-investment-stream