Making sense of the Provincial Growth Fund
The Government have $1bn a year for the next 3 years to invest in provincial New Zealand. This fund represents a huge opportunity for Local Authorities to secure additional funding to assist in the development of local infrastructure.
As the Long Term Plan consultation process nears completion and the overall affordability to the community is assessed the Provincial Growth Fund may provide an additional source of funding over the next 3 years.
There are 3 investment tiers:
Regional projects and capability. This is to provide support to initiatives for economic development, feasibility studies and capability building
Sector investment (includes one billion trees programme). This is for investment in initaitives targeted as priority or high value in terms of economic development
Enabling infrastructure projects. This is for investment in regional infrastructure that will lift productivity and grow jobs.
The Government has made a significant financial commitment and for their success projects need to be delivered.
Unlike some other funds there are no formal funding rounds and applications can be accepted at any time. The Independent Advisory Panel that has been formed to provide advice to the respective ministers.
As the complexity, risk and level of investment increases the time and complexity of the application process also increases.
We can assist by working with you to develop your investment proposition and then complete the application, feasibility studies, business cases to increase the chances of funding success.
A useful summary is available:
