Home Grants Value Add Investment Grants (VAIG) Program now open in Australia

Value Add Investment Grants (VAIG) Program now open in Australia

by opportunitydiary

Application Deadline: 06/22/2022
About Opportunity

The Value Add Investment Grants (VAIG) Program are now open for the applications to support agriculture, food and beverage businesses to invest in the expansion or relocation of their value adding and manufacturing operations in WA. It also supports the planning of expansion projects through for feasibility study grants.

Eligibility Requirements

To be eligible to receive a grant, your application must be related to value adding to primary production in WA; and the applicant must meet ALL of the following criteria:

  • Be a private sector business (including incorporated trustees), public companies, grower cooperatives, or similar organisations that have an ABN, and are registered for GST;
  • The project must be located in, or looking to relocate to, WA including the Perth-metropolitan area;
  • Be capable of entering into a legally binding agreement with the WA Government;
  • Have the financial capacity to fund the minimum cash contribution;
  • Have been in operation for a minimum of two years (or similar established track record);
  • Projects must also comply with requirements subjected to each streams

Benefits

  • Capital Investment stream
    • This stream will provide funds to eligible applicants for capital investment projects to expand, diversify or relocate their value adding and processing operations in WA. Projects must align to the stated objectives of the VAIG and be anticipated to be in the implementation and/or capital expenditure phase of the investment no earlier than January 2023.
    • There will be one funding round with up to $6 million available for individual grants of $250,000 to $750,000. Recipients must provide at least $1 of cash co-contribution for every $1 of funding (1:1) received.
  • Feasibility stream
    • The Feasibility stream will provide funds to eligible applicants for the planning, feasibility and other de-risking activities to support future capital investment decisions. Projects must align to the stated objectives of the VAIG and be ready to commence the project planning and business case phase from August 2022.
    • Funding will be available up to two times across FY23 and FY24 with up to $0.5 million available each year for individual grants of $30,000 to $100,000. Recipients must provide at least $1 of cash co-contribution for every $1 of funding (1:1) received.

Application Procedure

The VAIG is a major competitive grant program of the Department of Primary Industries and Regional Development (DPIRD), which is designed to build resiliance within the agribusiness, food and beverage value adding industries and reduce WA’s reliance on imported products.

As part of the State’s broader economic development and recovery post-pandemic, VAIG Round Two aims to strengthen and diversify the WA economy by supporting investments in new manufacturing capability which result in reducing WA’s reliance on imported products, supports business growth, fosters innovation and creates jobs.

What they are looking for

The Program aims to support agriculture, food and beverage businesses to expand, diversify or relocate their value-add processing operations in Western Australia. This can include:

  • Investments in new manufacturing capability or processing facilities, new technology, or plant modernization which results in reducing WA’s reliance on imported products, supports business growth, fosters innovation, and creates jobs;
  • Investments that improve sustainability, reduce the environmental impact of the manufacturing or processing activities being undertaken or contributes to improvements in broader environmental, social, and governance outcomes;
  • Investments that enable expansion or diversification of business operations that relate to value-adding to primary production in WA; or
  • Businesses looking to relocate operations to, or expand existing operations in, WA.

Official Website: Value Add Investment Grants (VAIG) Program now open in Australia

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