Expressions of interest (EOI) are now open for the recently launched Investment Attraction Fund (the Fund), designed to attract new investment to Western Australia that will create local jobs and contribute to a more diversified economy.
Western Australia’s economy is one of the strongest and most stable globally, with GDP exceeding pre-pandemic growth rates and unemployment at the lowest levels since 2012.
WA is brimming with investment and trade opportunities, with a number of unique strengths and advantages, including an abundance of natural resources and industry capability, a low risk operating environment, a successful vaccine program rollout, and a highly skilled workforce.
Supporting the aims of Diversify WA, the state’s economic development framework, the Fund will help grow and diversify the WA economy, create local and sustainable jobs and secure new opportunities. The Fund will also support a more proactive approach to investment attraction for WA, increasing the competitiveness of WA industries in global and domestic supply chains and attracting talent from all over the world.
EOI submissions are sought from a range of industries that match WA’s unique strengths and diversification priorities, including: energy, mining and METS, defence industries, tourism, events and creative industries, international education, primary industries, health and medical life sciences, and space industries. Applications for investments that will improve the value and productivity across multiple sectors of the economy, such as supply chain development, advanced manufacturing, science, innovation and technology and environmental, social and governance (ESG) frameworks are also encouraged.
Applications will be assessed against selection criteria in the Guidelines to ensure that the Fund supports applications with the potential for high value returns, synergies with other Western Australian Government initiatives, the ability to leverage Australian Government funding, and the creation of local and sustainable jobs.
Businesses seeking support to establish and grow their operations in WA are encouraged to submit an EOI to the Fund.
Submissions will be assessed and shortlisted, with suitable proposals invited to submit a more detailed application.
For more information on the Investment Attraction Fund and how to apply, please visit www.investandtrade.wa.gov.au/InvestmentAttractionFund (external link).
