Regional funding better than ever

23 NOVEMBER 2016: Regional funding takes a quantum leap forward with today’s launch of the Building Better Regions Fund. Most importantly, capital cities will no longer be eligible for regional funding because this is a fund for rural, regional and remote communities.The fund will also be driven by the people who know our community best, giving community groups and councils the opportunity to think outside the square. I look forward to seeing what projects local communities in North Queensland feel will best strengthen our region.Funding under the BBRF will be available in two streams:

• The Infrastructure Projects Stream will invest in projects that involve the construction of new infrastructure, or upgrade or extension of existing infrastructure.
• The Community Investments Stream will invest in local events and activities, strategic regional plans and leadership and capability building activities.

The Community Investments Stream was a brand new source of funding that would be available for community groups. The stream might help expand a local festival, attract a theatre production or major sporting event to the region to bring more visitors to the town, or it might be leadership or business training for young locals.A new social benefit criteria will allow applicants to show how their project will make their region a more attractive place to live, or improve community connections. Projects in remote and very remote areas will receive a loading on their project score, and also will not need to produce 1:1 matching funding.Projects will now be assessed against projects of similar size, so small community projects are not competing against huge projects. We’ve designed the Building Better Regions Fund to back projects that help build the kinds of communities our children and grandchildren either want to stay in or come back to. When the Government invests in a region it builds confidence across the entire community. Confidence is key in regional communities.The Program Guidelines for the Building Better Regions Fund outline the type of project proposals sought, how to lodge an application, how assessment will be conducted, and critical program dates.The Building Better Regions Fund replaces the National Stronger Regions Fund which has now closed. To access the BBRF guidelines, and to lodge an application from 18 January 2017, visit www.business.gov.au/bbrf