Grants up to $500,000 available for local businesses to better weather future natural disasters
Applications for a new grant for local businesses to expand and diversify are now open as part of the Federal Government’s continued efforts to help the community recover from the 2019 monsoon trough flood event.
Federal Member for Herbert Phillip Thompson said grants of between $10,000 and $500,000 were available for projects that diversify existing industries and start new ones.
“The North Queensland Economic Diversification Grants are a massive opportunity for local businesses to innovate and create more jobs for our local community,” he said.
“We know that an important part of preparing for future events is building the resilience of our businesses to ensure they don’t have all their eggs in the one basket.
“Not only will they be able to grow and become more profitable with this assistance, they’ll be able to better weather future natural disasters.”
Funding is available in two streams – one for projects related to agriculture and its value chain, and one for non-agricultural related projects. Successful applicants will need to provide a financial or in-kind contribution and show how their project supports a diversified economy that’s flexible and adaptive to shocks.
“We’ve committed more than $3 billion to support recovery and build resilience from this devastating event,” Mr Thompson said.
“While Labor keeps throwing mud, positive initiatives like this one prove that it’s not going to stick.”
The grants will be managed by the Queensland Rural and Industry Development Authority (QRIDA). Information on how to apply is available on their website: https://www.qrida.qld.gov.au/program/north-queensland-economic-diversification-grants