$8 million for Tasmanian jobs and diversification
The Federal Government has announced $8 million in funding as part of the Tasmanian Innovation and Investment Fund (TIIF), aimed at delivering long-term sustainable employment and promoting regional economic diversification in Tasmania.
The TIIF forms part of Stream 3 of the Tasmanian Forests Intergovernmental Agreement, which acknowledges the impacts of the restructuring of the state’s forestry industry.
The TIIF will work with companies to provide support for new investments across a range of industries. The TIIF will be administered by AusIndustry which will conduct the assessment process. Recommendations for funding will be made by an Assessment Panel comprising a representative from the Australian Government, the Tasmanian Government and an independent member of the business community.
The TIIF will provide minimum grants of $50,000. Successful applicants must fund at least a 50 per cent contribution to their project's costs. Grants will be awarded through a competitive, merit-based approach.
The program will end in the 2013-14 financial year.