Department of Treasury and Finance

Future Jobs Fund FAQ

Frequently Asked Questions–

1. Can the business case be conducted internally with existing resources?
Business case support grants are available for independently prepared business cases only. Work conducted within the organisation is not eligible to meet the matched funding requirement for business case support grants. This requirement applies to both for-profit and not for profit organisations.

Note that you may submit an application for a Future Jobs Fund grant and/or loan with an internally prepared business case.

2. What can the business case support grant be used for?
Business case support grants are for the preparation of business cases to support applications to the Future Jobs Fund for grants and loans. They are not for preliminary works related to the proposed project (such as quantity surveyors, engineering, architects etc).

3. Will organisations that receive business case support funding be required to apply for a Future Jobs Fund grant or loan, even if the business case shows that the project is not viable? 

No. Funding agreements for business case support will not require an application to be submitted for a Future Jobs Fund grant or loan.

4. When will business case support grants be paid?
Following approval, funding agreements will be signed with successful applicants for business case support, and payment made on a reimbursement basis for expenditure incurred.

5. If my application for business case support is not successful, am I still able to apply for a Future Jobs Fund grant or loan?
Yes. An unsuccessful application for business case support funding does not rule out the proposal for a Future Jobs Fund grant or loan. Similarly, a successful application for a business case support grant does not imply support for a Future Jobs Fund grant or loan.

6. How can applicants provide details that they have not been able to secure commercial finance to fund a project?
Written correspondence from a commercial financier will be considered as suitable evidence to meet this requirement.

7. Can the Future Jobs Fund grant be used to cover the salary of a new employee?
A key requirement for the Future Jobs Fund is that applicants must prove their proposal is sustainable in the long term without ongoing government support. An application seeking a Future Jobs Fund grant to directly pay ongoing employee salaries is unlikely to be able to meet this requirement.

8. What can the Future Jobs Fund grant/loan be spent on? Can it be used for acquisitions, salary, relocation and recruitment fees?
There is not a prescribed list of eligible expenditure, however it is expected that the funds will contribute towards the costs of implementing the project that has been submitted for funding support. A key requirement for the Future Jobs Fund is that the proposal is sustainable in the longer term without the need for ongoing government assistance.

Note that Section 2.1 of the Future Jobs Fund guidelines states that applications for loans may be made for assistance towards the costs of expanding an entity’s operations with the outcome of creating additional ongoing jobs. Examples include investment in new equipment, construction of infrastructure or facilities, purchase of land, and investments to enable diversification and growth.

9. When can my project commence?
Applications must demonstrate that the project can commence by 30 June 2018. Funding will not be provided for projects that have commenced or have been completed prior to the application being received by the Department of Treasury and Finance, however they may commence any time after the application is submitted (and prior to 30 June 2018). Applicants that commence a project after their application has been submitted, but before notification of the assessment outcome, do so at their own risk, as there is no commitment by the State to provide funding.

Note that applicants may be asked to provide justification for the funding request and the project commencement date should be clearly identified on the submitted project delivery timeline.

10. What do you mean by ‘commence’? Our project has been designed and approved, but is still some time away from manufacture/construction. Is it still eligible?
We understand that many projects have long lead times in terms of engineering, design and certification and don’t want to exclude those from our process if the job creating activity hasn’t yet begun. For the requirement that projects not be commenced or completed before applications are received by the Department of Treasury and Finance, ‘commence’ will be taken to mean the actual job creating activity (i.e. manufacturing) rather than the preliminary planning/design stages and the application will be eligible.

Note that the application should contain a detailed project delivery timeline.

11. What do you mean by ‘commence’? Our project will have started design, planning and approvals by 30 June 2018, but may not be in production/construction stage by that date.
Depending on the scale and nature of the project, preliminary work may be considered as meeting this requirement.

Note that the application should contain a detailed project delivery timeline.

12. Can I apply for both a Future Jobs Fund grant and loan in the same application?
Yes, the application form allows applicants to request both a grant and loan.

13. The eligibility requirements include a stipulation that the applicant must contribute an amount equivalent to the Future Jobs Fund grant. Can this contribution include the value of services provided in-kind?
For Future Jobs Fund grants: Yes, some services contributed at no additional cost may be considered for the matched funding requirement of a Future Jobs Fund grant, however preference will be given to applications where the matched funding represents an external cost to the organisation that can be clearly identified and valued.

For Business Case support grants: No. Business case support grants are available for independently prepared business cases only and work conducted within the organisation is not eligible to meet the matched funding requirement for business case support.

14. Can the matched funding requirement for a Future Jobs Fund grant include finance from other grant sources?
No. Projects with other government grant funding will still be eligible for the Future Jobs fund, however that funding will not be considered to be a matched funding contribution.

15. When will Future Jobs Fund grants and loans be paid?
Individual funding agreements will be signed with successful applicants with terms of payment to be negotiated.

Grant funding may be provided in a phased approach, based on pre-agreed performance milestones for the project including expenditures.

Loans will be available to be drawn down as performance milestones, including expenditure, are achieved.

16. If the grant is drawn down over multiple years can the applicant contribution be invested on a matching time frame?
Yes

17. What if the proposal doesn’t result in the agreed number of jobs?
Individual funding agreements will be signed with successful applicants specifying agreed performance milestones. Failure to maintain agreed targets may result in a request for all or part of the grant to be repaid.

18. Do you have a definition of ‘advanced manufacturing’?
The following definition is from the Advanced Manufacturing Growth Centre: Advanced manufacturing is the application of leading edge technical knowledge and expertise to the creation of products, productions processes and associated services for the purpose of sustaining high growth and customer satisfaction.

19. Where can I find more information about the requirement to use Australian certified steel?
See the South Australian Steel Economic Participation Policy.

Enquiries

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