Value Add Investment Grants

Application open for Value Add Investment Grants round two. The Value Add Investment Grants (VAIG) Program helps agribusiness, food, and beverage companies expand or relocate their value-added and manufacturing activities in Washington. It also helps with expansion planning by providing funding for feasibility studies.

VAIG Round Two aims to strengthen and diversify the WA economy by supporting investments in a new manufacturing capability that reduce WA’s reliance on imported products supports business growth, fosters innovation, and creates jobs as part of the State’s broader economic development and recovery following the pandemic.

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 must 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 must also comply with requirements subjected to each stream (For more information please visit: Capital Investment stream and Feasibility stream).

They are looking for

Value Add Investment Grants aim to support agriculture, food, and beverage businesses to expand, diversify or relocate their value-add processing operations in Western Australia. This can include:

• Investments in new manufacturing capability or processing facilities, new technology, or plant modernisation result in reducing WA’s reliance on imported products, support business growth, foster innovation, and create jobs;
• Investments that improve sustainability, reduce the environmental impact of the manufacturing or processing activities being undertaken, or contribute 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.

Benefits

Round Two has up to $7 million in funding available. Businesses can access support through two different funding streams:

1. Capital Investment Stream:  This stream will provide funds to eligible applicants for 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 and be anticipated to be in the implementation and/or capital expenditure phase of the investment no earlier than January 2023. There will be one funding round with up to $6 million 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.
2. Feasibility Stream: The Feasibility stream will provide funds to eligible applicants for the planning, feasibility, and other de-risking activities to support future capital investment decisions. Projects must align to the stated objectives of the VAIG and be ready to commence the project planning and business case phase from August 2022.  Funding will be available up to two times across FY23 and FY24 with up to $0.5 million available each year for individual grants of $30,000 to $100,000. Recipients must provide at least $1 of cash co-contribution for every $1 of funding (1:1) received.

Application process

Two webinars providing further information on the VAIG Round Two and how to apply will be held on:

• Wednesday, 11 May 2022
• 10:00 am to 11:00am

Click here to apply. 

SOURCE https://startupxs.com/fund/value-add-investment-grants/