Development grants to grow NQ on offer

Today the Northern Australia Development Program (NADP) has opened for applications and I am very happy to announce that these grant streams will provide between $50,000 and $10 million to businesses who want to develop and transform the north and create more jobs.

These grants will help businesses to fund new capital expenditure investments like the construction of infrastructure or assets, or to undertake business planning and feasibility studies.

There are a number of operators I have spoken to in recent months with worthy projects and I am keen to see as much investment coming into North Queensland as possible.

The Northern Australia Development Program is a $111.9 million investment, offering funding under two streams.

The Business Development Grants stream offers between $50,000 and $2 million for small to medium corporations.

The second stream – Industry Transformation Grants - will offer corporations between $3 million and $10 million to establish a new industry or grow an existing industry.

Grants will cover up to 50 per cent of an eligible project’s total cost.

Applicants are encouraged to submit applications prior to the first-round assessment date of December 10, 2021.

Guidelines are available at the Business Grants Hub - https://business.gov.au/news/scale-up-and-diversify-your-business-in-northern-australia