SA Introduces $20 Million Fund to Buoy Tourism Industry
The South Australia Government has responded to the urgent need to support the state’s tourism industry in the wake of droughts, bushfires and Covid-19, introducing a $20 Million grants program over two financial years, to encourage industry development.
The purpose of the Tourism Industry Development Fund (TIDF) is to stimulate private sector investment in new and improved regional accommodation, and the development of quality tourism products and experiences across regional South Australia. Projects in metropolitan Adelaide are not eligible for funding.
The program outline states that the TIDF provides opportunities to leverage government and private funding to deliver critical economic benefits across the state’s visitor economy.
Open until 31 March, 2022 or until all of the funds are allocated, the TIDF aims to:
- Improve tourism infrastructure and experiences that appeal to target markets
- Grow economic benefit via increased visitor expenditure
- Create new jobs and develop skills
- Encourage further development by the private sector in infrastructure and visitor facilities
- Encourage businesses to work collaboratively
- Implement sustainable business practices.
Applicants can seek grants from $20,000 to $500,000 (excluding GST) with a maximum of 30 per cent State Government funding committed to the total project value. Federal Government funding does not count towards the 30 per cent ratio of State Government funding.
For example: A $100,000 project is eligible for up to $30,000 State Government funding (including TIDF and other State Government grants). The applicant may still be eligible to receive additional funding from the Federal or Local Government.
Valuable projects will include those committed to employing local people, sourcing products and services from local suppliers, and fostering collaboration. Projects that seek to leverage funds from non-State Government sources will also be viewed favourably.
There are two streams in the TIDF, as outlined below:
Stream 1: Regional Infrastructure Projects
- To develop or enhance tourism infrastructure, facilitate new private sector investment in building new accommodation or refurbish existing properties within regional South Australia.
- To support private sector projects that require infrastructure build or upgrades to better provide a tourism experience such as new attractions.
Stream 2: Regional Product and Experience Development Projects
- To develop new products and/or enhance existing products and experiences within regional South Australia.
- To support products and experiences that align with South Australian Tourism Commission’s marketing focus, such as food and wine, nature and wildlife, cultural, coastal and outback, and soft adventure.