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.

 

For more information on the TIIF visit www.ausindustry.gov.au, call the AusIndustry Hotline on 13 28 46 or email This email address is being protected from spambots. You need JavaScript enabled to view it..