THE Tasmanian Government last week said it is acting to stimulate millions of dollars' worth of private investment through the launch of the Major Development Infrastructure Assistance Fund (MDIAF), which will provide one-off relief for infrastructure costs associated with major development projects.
Premier Lara Giddings said grants of between $100,000 and $1 million are now available to encourage developers to bring forward projects that have the potential to generate immediate and ongoing economic activity. The Fund is expected to distribute at least $2 million in total.
The grants are designed to assist with infrastructure costs including electricity networks, water and waste networks, roads, rail, wharves and gas networks. Applicants will need to demonstrate that construction of the project will commence by 30 June 2014 and that the projects will provide ongoing employment beyond its construction phase.
"Following close consultation with the construction industry, the State Government is taking direct action to create jobs and investment," Ms Giddings said.
"By supporting major developers in this way we will bring forward significant projects that have the potential to generate immediate and ongoing economic activity."
Ms Giddings said the fund was one of a range of practical measures the State Government had introduced to support job creation and investment, which have also included payroll tax relief and the $30,000 first home builder boost.
More information about the Major Development Infrastructure Assistance Fund is available from the Department of Economic Development, Tourism and the Arts website at <http://www.development.tas.gov.au/MDIAF>. The Expressions of Interest period closes on 5 January 2014.