Small to medium-sized businesses in Geraldton are the beneficiary of Royalties for Regions funding to increase competitiveness, productivity and engagement in major projects.
Funding disbursed under round 2 of the regional Industry Facilitation and Support Program (IFSP) will go to 36 businesses, totalling more than $680,000.
Member for the Agricultural Region Hon Paul Brown MLC said dollar-for-dollar IFSP grants up to $25,000 were provided to heighten business performance and competitiveness in local, national and global marketplaces.
“The expansion of this program to include regional businesses is a great way to help stimulate local economies and provide a platform for business operators to reach new growth objectives,” he said.
“Royalties for Regions is allowing these businesses and companies to engage in larger, more major markets, in some cases catalysing a push toward broader involvement in national and international supply chains.”
Businesses in Geraldton to successfully apply for round 2 IFSP grants include:
- GHS Solutions, Wonthella: $20,000
- Shine Aviation Services, Geraldton: $20,000
- JR & DL Peck, Geraldton: $25,000
- Geraldton Building Services & Cabinets, Webberton: $20,000
In 2014 a total of 31 regional companies received $400,000 in IFSP funding, which helped create more than 20 new jobs, six apprenticeship positions and generated almost 20 contracts worth $208 million.
Eligibility for the latest round was expanded to include agribusiness and tourism sector businesses, as well as those who have previously received IFSP funding.
Mr Brown said the regional component of IFSP was funded by the Royalties for Regions Regional Buy Local Initiative.
“In the five years to 2016-17 the Regional Buy Local Initiative will have invested almost $10 million into facilitating regional business opportunities,” he said.
“Given the current downturn in some WA sectors this is an opportune time to ensure small businesses in regional WA continue to develop and Buy Local provisions are met state-
More information on IFSP funding can be found at www.commerce.wa.gov.au.