More infrastructure projects will be supported to attract private sector investment along Victoria’s iconic Shipwreck Coast, thanks to the Geelong City Deal’s Private Sector Business Enablement Fund (PSBEF).
Applications are now being invited for Round 2 of the PSBEF with over $7 million in funding available. Round 2 opens on Monday 4 April 2022 and will close on Monday 16 May 2022 at 5 pm AEST.
Round 2 builds on the five successful projects from Round 1 announced in February and is set to create up to 360 new jobs for the Shipwreck Coast community.
These projects have the potential to generate more than $150 million in private investment to support the growth of the visitor economy, through new and improved accommodation offerings.
The $7 million Fund supports private sector investment in projects designed to create jobs and encourage tourism experiences along this important part of the coast. Eligible projects can apply for grants of up to $2 million.
Projects that are within the Shipwreck Coast are the priority of the Fund, however projects in neighbouring areas along the Great Ocean Road will also be considered on a case-by-case basis.
Activities that can be considered for funding include:
Successful projects aim to complement the future development of the new Visitor Experience Centre at the Twelve Apostles Precinct, providing an improved experience for domestic and international tourists into the future. The enabling infrastructure funded by the PSBEF will stimulate investment in accommodation and visitor experiences that will attract tourists and stimulate the local economy.
The PSBEF is a key component of the $108.15 million – Shipwreck Coast priority projects initiative identified in the Shipwreck Coast Masterplan under the Geelong City Deal, with $88.15 million funded by the Australian Government and $20 million funded by the Victorian Government.
The Geelong City Deal is a $500 million commitment between the Australian and Victorian governments and the City of Greater Geelong to revitalise the city and regional economy, encouraging visitors to spend more time in the region by capitalising on its natural assets.
Round 2 opens on Monday 4 April 2022 and will close on Monday 16 May 2022 at 5pm.
For more information on the Geelong City Deal, visit www.citydeals.infrastructure.gov.au/geelong.
For more information of the PSBEF, including the guidelines for assessing applications and administering the program, visit: https://www.rdv.vic.gov.au/grants-and-programs/geelong-city-deal.
