Funds fo­cus on re­gional in­fra­struc­ture

Pilbara News - - Federal Budget 2017 - Ali­cia Per­era

Ma­jor in­fra­struc­ture projects that will boost the ca­pac­ity of re­gional ar­eas are the tar­get of a Re­gional Growth Fund es­tab­lished as part of the Fed­eral Bud­get.

The new fund tar­get­ing the cre­ation of more in­fra­struc­ture in re­gional Aus­tralia will be set up with a to­tal of $472.2 mil­lion over four years.

In­cluded in that fig­ure will be $272.2 mil­lion to­wards pro­vid­ing grants of $10 mil­lion or more for “ma­jor trans­for­ma­tional projects” and job cre­ation in re­gional ar­eas go­ing through struc­tural change, de­signed to sup­port the long-term growth of their economies.

An­other $200 mil­lion will be in­vested in the Gov­ern­ment’s ex­ist­ing Build­ing Bet­ter Re­gions Fund to sup­port the con­struc­tion of com­mu­nity in­fra­struc­ture and build the ca­pac­ity of re­gional ar­eas.

The BBRF was es­tab­lished last year to re­place the Na­tional Stronger Re­gions Fund, and ad­dresses a sim­i­lar pur­pose of in­vest­ing in in­fra­struc­ture projects that strengthen the economies of re­gional ar­eas.

The Re­gional Growth Fund will start with a $19.8 mil­lion in­jec­tion this fi­nan­cial year.

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