Regional Growth Fund Boosts EP Seafood Sector

oyster 1522835 1920. pixabay

Two Port Lincoln based businesses have received significant funding from the Marshall Liberal Government’s Regional Growth Fund.

The funding of more than $2.6 million will be invested into Mori Seafoods and the Yumbah Oyster Hatchery.

The two projects shovel ready will help boost the Eyre Peninsula’s Seafood sector through essential upgrades, the retail of Ocean Jacket exports and the establishment of a ‘spat Bank’ that will help future proof the whole oyster industry.

More than 200 jobs across the region are expected to stem from the two local projects.

The Yambah Hatchery has sought $400,000 in government investment while the Eyre Peninsula Ocean Jackets Fishing Cluster has sought $740,000.

Member for Flinders Peter Treloar said “Port Lincoln has received just over a million dollars but across the state there are significant investments of up to about $12 million dollars in state government money and that’s being matched by successful tendering businesses, and there will be another round of the Regional Growth Funds.”

“This is another great example of our government working collaboratively with industry to deliver positive outcomes for those in regional South Australia.”

The Marshall Liberal Government has committed $150 million over 10 years through the Regional

Growth Fund to support regional South Australia as part of the Recharging Our Regions policy.

Applicants to the Regional Growth Fund were eligible to seek grants from $50,000 up to $2 million, with projects given preference if they can demonstrate a greater private-to-government funding ratio and demonstrable strong economic outcomes.

The applications were assessed by an independently chaired panel, and advice was recommended based on how well they aligned to the criteria of this Fund. There is still $7.7 million in funding available in the Regional Growth Fund with further applicants from the stimulus round being considered from the Strategic Business Round.

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