The Value Add Agribusiness Investment Attraction Fund aims to support Western Australian-based companies to invest in new projects or expansion opportunities that will build competitiveness, adopt innovative technologies and grow their operations.
The fund aims to create jobs and drive economic growth, productivity and capability of this growing industry sector, by supporting WA’s food, beverage and value add processing industry by enabling businesses to confidently invest in new projects, technology or expansion opportunities.
There are three components:
- Capital expenditure
Up to $3 million available. Up to $300 000 per business towards value add capital expenditure related to investment in expansion or relocation in regional WA.
- De-risking investment
Up to $550 000 available. Up to $100 000 per business towards de-risking investment in value adding enterprises. This includes, but is not limited to, contributing to costs occurred in businesses undertaking feasibility for regional expansion or relocation; costs associated with undertaking approvals for regional expansion or relocation.
- Agrifood technology investment fund
Up to $1 million available. Up to $100 000 per business to support value adding businesses to invest in globally competitive ag-tech and food-tech, including technology that can reduce input costs and environmental impact; improve productivity; and ensure product quality, product provenance and animal welfare.
Businesses are required to provide matched funding with a minimum of $1 to $1 co-contribution; and how evidence of material growth that the grant funding would support.