Local Industry Fund for Transition (LIFT) – OverviewOverview
This program aims to create sustainable jobs and contribute to the economic development of the local areas most impacted by the closure of the major car manufacturers (Ford, Holden and Toyota) in Victoria. It will focus on new investment to create new or additional capacity that results in sustainable jobs and helps the region build its economic base.
The program is part of the Victorian Government’s Towards Future Industries: Victoria’s Automotive Transition Plan, which aims to:
- Help businesses in the automotive parts and related supply chain industries find new markets in the global automotive industry or other industries within Australia.
- Provide assistance to automotive industry workers to find new jobs.
- Support economic development in the areas most affected by the closure of the major car manufacturers.
Grants of up to 25% of eligible project expenditure, to a maximum of $2 million, is available on a 3:1 matched funding basis. Projects must have total eligible expenditure of more than $200,000.
An initial funding pool of $33 million is available which is allocated to the four sub-funds comprising LIFT, covering the geographical areas of:
- Geelong (Local Government Areas of Colac-Otway, Golden Plains, Greater Geelong, Queenscliff and Surf Coast): $7.5 million
- Melbourne’s North (Local Government Areas of Darebin, Hume, Moreland and Whittlesea): $10.6 million
- Melbourne’s South East (Local Government Areas of Greater Dandenong, Kingston, Casey, Frankston, Knox, Monash, Whitehorse, Maroondah, Cardinia and Yarra Ranges): $10 million
- Melbourne’s West (Local Government Areas of Wyndham, Melton, Hobsons Bay, Maribyrnong, Brimbank and Moonee Valley): $5 million
The program has a two-stage application process:
- Expression of interest (EOI): Closed 6 July 2018.
- Formal applications (by invitation from the department): Closed 1 August 2018.
As announced in the 2017-18 State Budget, the Government committed an additional $10 million for this program, bringing the total funding pool to $43 million.Who Can Apply?
Eligible applicants must have:
- An Australian Company Number (ACN).
- An Australian Business Number (ABN).
- The financial capacity to meet the co-contribution requirement.
- The financial reports for the last three financial years to enable the Department of Economic Development, Jobs, Transport and Resources to conduct a financial risk assessment (FRA).
Businesses of all sizes are eligible to apply and joint applications are acceptable, provided there is a lead applicant that is both the primary project proponent and an eligible applicant.
Where a project involves two or more businesses, the lead applicant should submit the application and will be subject to a FRA. All participating businesses will be subject to probity checks.
Please refer to the Guidelines for the list of ineligible applicants.
Eligible project expenditure may include:
- Purchase of equipment or machinery to assist business establishment or expansion (including for example, second hand or repurposed automotive manufacturing equipment).
- Direct labour costs incurred on employees directly employed on implementing and/or commissioning the agreed project.
- Construction or fit-out of a new building or extension to existing premises.
- Associated project management costs.
- Creation of new sustainable jobs.
- Significant contribution to the local economy.
Please refer to the Guidelines for the complete list of eligible/ineligible activities/expenditure.
The main assessment criteria:
- The level of job creation.
- The level of net economic benefit.
- The demonstrated skills, experience and resources available to the business to successfully undertake the project.
- Sustainability of the project and need for government support.
Please refer to the Guidelines for the complete list of the assessment criteria.
- Research & Development
- Business Support