The aim of the Regional Jobs Fund is to attract new investment, create new jobs and retain existing jobs in regional Victoria and to support businesses to improve their productivity and competitiveness.
The Regional Jobs Fund (RJF) looks to support projects which create employment opportunities across industry sectors where regional competitive advantage exists. This includes, but is not limited to :
– food and fibre
– advanced manufacturing
– professional services
– new energy technology
– medical technology, life sciences and healthcare
– transport, defence and construction technology.
RJF is part of the Regional Jobs and Infrastructure Fund (RJIF), the Victorian Government’s flagship regional development fund central to driving growth and recovery in rural and regional Victoria. RJIF has been allocated $30 million in 2022-23 to leverage private sector investment, grow and diversify our regional economy, and improve economic and social outcomes to make regional Victoria an even better place to live, work and invest.
RJIF supports regional communities in their immediate response and recovery efforts, seeks to address complex local challenges and enable opportunities for future growth. The impact of COVID-19 has seen increased numbers of people living and working in rural and regional Victoria. The Victorian Government recognises the ongoing opportunities to support our growing regions with the infrastructure communities need to thrive and attract a skilled workforce.
Objectives of Program
The RJF provides Victorian Government financial assistance primarily to businesses seeking to develop and expand operations in regional Victoria.
The aim of the RJF is to attract new investment, create new jobs, and in some cases retain existing jobs in regional Victoria and to support businesses to improve their productivity and competitiveness.
The Victorian Government has developed Regional Economic Development Strategies (REDS) for each of Victoria’s nine Regional Partnership regions. The REDS contribute to Government’s vision for rural and regional Victoria to be a resilient and thriving place to live, visit, work and do business and will help inform Victorian Government investments. The REDS use data and evidence to profile each region’s economy and identify strategic directions for economic growth, recognising that each region has unique strengths, challenges and opportunities.
Projects funded under RJF are expected to strongly align with the relevant Regional Economic Development Strategy demonstrating a place-based economic impact.
The RJF program will consider the following types of projects resulting in the retention and creation of new jobs, development of business innovation and productivity, as well as the provision of utilities and infrastructure:
– investment projects where regional Victoria is in competition with interstate or international locations (i.e. footloose investments)
– projects attracting footloose capital into new and/or existing facilities
– investment to develop new facilities, expand existing facilities and repurposed facilities
– projects that underpin the sustainability of businesses and the retention of jobs in regional Victoria
– projects introducing new technologies, plant and equipment, and systems to improve productivity, competitiveness and business growth
– projects enhancing the skills of the workforce to raise productivity
– the introduction of innovations, technologies, equipment and processes to develop and increase exports
– projects improving supply chain efficiencies through collaborative projects
– projects boosting the capacity of new and existing regionally significant employment precincts such as CBDs, health, education, innovation, industrial and special purpose precincts
– projects that involve utility and service connections and/or upgrades to activate business investment and create jobs (i.e. typically, consideration will be given to projects that require upgrades to electricity supply, gas supply, water supply and wastewater treatment services).
projects that focus on water and energy savings that improve the operational sustainability of a business in a regional location such as solar and water recycling projects.
RJF is accepting applications throughout the 2022-23 financial year or unless funds are exhausted prior.