The third round of the Geelong Region Innovation and Investment Fund (GRIIF) is now open.
Minister for Industry, Lily D’Ambrosio, today welcomed the announcement, but called on the Federal Government to commit to the fund’s future to support local industry.
The Andrews Labor Government has committed an additional $18 million to support the fund, and the Melbourne’s North Innovation and Investment Fund (MNIIF).
The Abbott Government has refused to provide any details of additional funding and has stalled a review of the funds.
The $29.5 million Geelong Regional Innovation and Investment Fund has, to date, invested $18.3 million in local projects. These funds have supported more than $104 million in further investment on projects that will create 722 jobs.
Under the fund, businesses with projects located in the Greater Geelong, Queenscliff, Surf Coast, Colac-Otway and Golden Plains local government areas can apply for financial assistance to support investment.
Further information is available from the business.gov.au hotline on 13 28 46.
Quotes attributable to Minister for Industry, Lily D’Ambrosio
“The Andrews Labor Government has worked with the Federal Government, Ford Australia and Alcoa to open the third round of this job-creating investment fund.”
“Recipients of the fund are working hard to create jobs, but more funds are needed to support other businesses in the auto supply chain.”
“We call on the Federal Government to provide additional investment so this fund, and local industry, has a real future.”
Reviewed 19 August 2020