Western Sydney Business Employment Fund

The Western Sydney Business Employment Fund (WSBEF) aims to encourage business growth and genuine new employment creation.

 The Fund aims to offset business costs including payroll tax, to assist businesses create employment through establishment or expansion of operations in Western Sydney.

Objectives

The WSBEF aims to encourage small to medium businesses to:

-       create new employment opportunities

-       establish or expand their operations

-       diversify and strengthen their business

 Types of Assistance

Financial assistance will be available to eligible businesses to offset costs impeding the establishment or expansion of operations, where new employment will result.

Subject to employment and other milestones being met, assistance will be targeted to offset the costs associated with employment growth.

Assistance may be in the form of:

-       payroll tax rebates; and/or

-       direct grants; and/or other business cost offsets (for example, initial capital costs, costs of pursuing diversification or other growth opportunities).

 The level of assistance offered for a project will take into account:

-       direct new employment generated

-       value of payroll tax being paid

-       the skill level of new jobs

 Who Can Apply

Small to medium sized businesses in Western Sydney are eligible to apply for the Western Sydney Business Employment Fund.

 Businesses located in the following Western Sydney local government areas can apply: Auburn, Bankstown, Baulkham Hills, Blacktown, Blue Mountains, Camden, Campbelltown, Fairfield, Hawkesbury, Holroyd, Liverpool, Parramatta, Penrith and Wollondilly.

 The WSBEF will focus on industry sectors including manufacturing, finance and insurance, property and business services, tourism, information and communication technology, creative industries, transport, logistics and storage, and green industries where value-adding opportunities can be demonstrated.

 The WSBEF aims to encourage businesses that are expanding and becoming payroll tax liable for the first time to continue creating employment opportunities.

 All funding provided under the WSBEF is discretionary and projects need to be consistent with the Department’s strategic industry development priorities.

 Applications will be assessed on a case by case basis with funding directly linked to employment creation.

 Retrospective applications for assistance will not be considered.

 Program Criteria

Applicants must be able to demonstrate the following:

-       a planned significant increase in employment;

-       the long term viability of the business;

-       cost impediments delaying or preventing the project from proceeding;

-       their ability to secure funding for the establishment or expansion project

 Each application will be examined on its potential to create new employment, as well as the likely broader economic benefits for the region.

 The financial resources of applicants and their rationale for establishing or expanding will also be taken into account.

 Program Exclusions

Retailing, localised trade services, localised professional services, basic agriculture and mining are excluded from WSBEF assistance.

 Assistance should not compromise competitive neutrality, that is, subsidise one participant in the market, thereby reducing the competitiveness of other participants.

 How to Apply

Application forms will only be provided following a face to face interview with anI & I NSW Business Development Manager and the General Manager or CEO of the company.

Completed application forms should be supported by historical financial accounts (at least 2 financial years) and cash flow and employment projections for two years for existing and new enterprises.

 Facilitation

I & I NSW’s Business Development Managers (BDM) can provide advice on training and skill development opportunities by liaising on behalf of clients with training providers.

 BDMs can also assist project facilitation by liaising with local government and other government agencies, and by providing information on potential sites and local contacts to businesses establishing or relocating to a Western Sydney location.

Performance Monitoring

Applicants must agree to adhere to conditions set in any letter of offer of financial assistance. The business must also agree to provide information to allow ongoing monitoring of the impact of assistance provided through the WSBEF.

 I & I NSW may at its discretion withhold payment of a subsidy if information provided in an application is found to be incorrect or misleading in any way.

 If offering assistance, I & I NSW reserves the right to use companies assisted in its publicity or as case studies to promote Western Sydney NSW as an investment location.

For more information contact Industry & Investment NSW’s Western Sydney Business Centre on Tel: 8843 1100 or email dsrdparramatta@business.nsw.gov.au

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