Investing Down Under? Key incentive program expiring soon
Capturing Incentives
Businesses expanding their footprint in New South Wales (NSW) have limited time to capture $250 million in incentives.
Overview
Known as the Jobs Plus program, a $250 million initiative was designed to create or support up to 25,000 jobs in NSW through June 30, 2022. The program, which was announced as part of the 2020-21 NSW Budget, supports both Australian companies that are looking expand their footprint in the State and international businesses that wish to launch business operations in the state.
Support levers of the program assist businesses by reducing the cost of establishment and financial risk, while also increasing the speed to market for businesses looking to scale and grow. This support is available to both private and non-government sectors that are seeking to invest in job-creating projects, proposals, and partnerships. The program plans to create 25,000 jobs. The program is available until June 30, 2022, or until support is fully allocated.
Is My Company Eligible?
The Jobs Plus program categorizes their eligibility into two classifications – Australian business eligibility and international business eligibility.
To be considered for the Jobs Plus program, an International Businesses must:
Currently employ a minimum of 80 workers
Before June 20, 2024, create at least 30 new full-time equivalent jobs in NSW
Begin hiring new staff before December 31, 2022, after the application
Have all new staff be paid and living in NSW
The program requires that applicants must demonstrate the skills and capacity to deliver the project, demonstrate they are likely to remain financially viable so over the duration of the project and demonstrate that the project would not occur in NSW, or within the same timeframe without government investment.
Qualifying Projects
To qualify for the Jobs Plus program, the applicant must run a business venture or project that will create at least 30 new jobs in NSW, with permanent and ongoing full-time equivalent employees, before June 20, 2024. Examples of eligible projects include activities that invest in equipment and facilities such as:
Relocating a business operation from out-of-state or internationally to NSW
Establishment of an additional production line for an existing NSW business
Transferring business activities to NSW that are currently performed by your company overseas
Projects will be considered ineligible where:
Funding is proposed to be used for the ongoing day-to-day operations of the business
Funding is proposed for the re-hiring of staff previously made redundant after the announcement of the Program on November 5, 2020
Funding is proposed for the transferring of staff from one related business to another
Funding is proposed for an employee who leaves and returns to the business within a period of 6 months from the date they left the business
The project would have proceeded and be delivered within the same timeframe without government financial assistance
The business has already received NSW Government or other funding for the same outputs and/or outcomes
The project will require NSW Government or other funding for the same outputs and/or outcomes
The project will require NSW Government support beyond the agreed assistance period
The project cannot be delivered in full before June 30, 2024
Must first receive a nomination from the City Council or County Commissioners’ Court
Assessment Criteria
Assessment Criteria
Summary Timeline for Application and Program Requirements
To begin the process or to learn more details, contact one of our Hickey Location Analytics and Incentives Team members today!