REGIONAL INVESTMENT FRAMEWORK
The Cradle Coast Regional Investment Framework is a method to seek community support for a regionally significant project that will make a difference to the region’s economy.
The Regional Economic Development Steering Group (REDSG), made up of key industry, community and government leaders, will determine a register of projects that will be supported by CCA’s Member Councils to seek State and Federal Government funding. The REDSG does not have funding to allocate to projects and this is not a funding process.
HOW DOES IT WORK?
The Regional Economic Development Steering Group (REDSG) will maintain a list of regionally significant projects, reviewed and updated quarterly. The first list will be released in early 2020. The purpose of the list is for our region to speak with one voice in support of projects that will drive positive economic change. The REDSG can help by advocating for projects to:
- be funded (by State or Federal Government)
- be located in the Cradle Coast region as opposed to elsewhere
- gain community support
- be expanded or hastened
- benefit from Local Government collaboration or other support
Both infrastructure projects and “soft projects” (e.g. programs or initiatives) will be considered.
If you have a project that would benefit from the REDSG becoming involved, you can submit a Project Concept Brief. Please contact Carol Bracken, Program Manager – Regional Futures Plan on 6433 8430 or email firstname.lastname@example.org for further information and the relevant form.
How will the REDSG decide on the regional priorities?
The REDSG will assess proposals against criteria developed from the Regional Futures Plan. The REDSG will also consider the project’s readiness and the need for the REDSG to advocate for it. For more information see the summarised Futures Plan here.
HOW DO I APPLY?
Step 1 Request a Project Concept Brief form, and seek assistance if required from Carol Bracken, Program Manager – Regional Futures Plan, on 6433 8430, or email@example.com
Step 2 Fill in the template and obtain a letter of support from your local Council, Chamber of Commerce or similar organisation
Step 3 Submit to CCA via email
Step 4 Projects are assessed by the REDSG at least quarterly
Step 5 Feedback is provided on your submission
Stage 6 REDSG releases updated Cradle Coast Regionally Significant Projects Register
If you have a project idea please read this application support information document – VIEW
Your project is regionally significant if it involves one or more of the following:
- delivery in two or more local government areas
- collaboration between multiple organisations
- >$5M project cost
- >5 ongoing workers
- >50 workers during implementation
- additional economic benefits such as >100 indirect jobs.
Does your project contribute to jobs growth, new business opportunities, increased skills in the workforce, attract people to the region or support them to stay? These activities will help our economy grow. The Regional Futures Plan identifies the key economic drivers of the Cradle Coast region and projects will be assessed against the goals of this economic development plan for the Cradle Coast.
Your project will contribute to one or more areas that will grow our capabilities such as:
- education and training
- population growth
- increased liveability such as better health care services
- community participation in arts and culture
- business growth
- more jobs building infrastructure projects or
- ongoing jobs in mining, manufacturing, energy, agriculture or tourism
If you want to submit a project into the REDSG but it is being managed by another organisation please ensure that you have their permission to submit their project.
How do you know if your project is ready to be listed on the REDSG Register?
The REDSG Register listing can help promote and support your project to achieve its goals. The level of help that the REDSG can provide is dependent on your project’s maturity. Most projects go through four stages:
Concept => Business Case => Design => Construction/Implementation
Projects in the Business case or Design stage that are seeking funding to proceed or expand are most likely to benefit from being on the REDSG list. Projects in the Concept stage are not ready for full REDSG support but could be supported by the REDSG to seek funding for a feasibility study or business case development. For projects in the Design or Construction/Implementation stage, the REDSG may be able to raise awareness of your project in the community or enhance collaboration.
Projects that are under Construction/Implementation or that already have funding are able to apply to be on the project register if they need assistance from the REDSG to gain community support, expand the project or gain collaboration across council areas. If you’re unsure please contact the program manager.