A REGIONAL fund that is expected to create almost 1200 new jobs has been boosted by another $6.4 million in the 2015-15 Mid-Year Budget Review.
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![Regional Development Minister Geoff Brock. Regional Development Minister Geoff Brock.](/images/transform/v1/crop/frm/Fuxf4VmvfUmd225xeYC69T/a93a198d-509b-4c15-956e-ca2468a788e6.JPG/r0_219_4288_2630_w1200_h678_fmax.jpg)
Regional Development Minister Geoff Brock said the state’s $60m Regional Development Fund had received the extra funding because of the significant response to the first two rounds.
He said the RDF had already risen in 2014 from $1.6m to $15m a year over four years.
“Since then, 63 projects have been approved which will lead to the creation of almost 1200
projected new jobs, generating investment of more than half a billion dollars in economic
growth across our regions,” he said.
Mr Brock said round one of the project is expected to create 653 new jobs in regional areas, with a return to the economy of $334m, while round two is expected to result in 505 jobs and $184m.
“Applications for funding under the RDF continue to exceed the amount of money available,
with 288 ‘Expressions of Interest’ received for the first two rounds,” he said.
Mr Brock said the funding includes $2 million for d’Arenberg Pty Ltd to assist the company to
develop its new tourism facility at McLaren Vale creating 58 new jobs.
“The other three major project grants are in the process of being finalised and will be
announced in the coming months,” he said.
“The $15 million RDF Round Three has also been brought forward and will close on
January 15 next year.”
Mr Brock said up to $5m of the funds in round three will specifically target projects to create jobs and drive economic growth in the Upper Spencer Gulf and Outback.
“A new $2 million small grants Upper Spencer Gulf and Outback Futures Program is also being
made available exclusively for the region,” he said.
“This funding recognises the real challenges being faced by the Upper Spencer Gulf and
Outback area due to the downturn in the resources sector and the closure of the Port Augusta
power stations and the Leigh Creek coal mine by Alinta Energy.”