The A$30 million South Australia Innovation and Investment Fund (SAIIF) - Industry Development Program has been set up by the Australian and South Australian Governments to assist with industry development in South Australia following the decision of Mitsubishi Motors Australia Limited to cease manufacturing in Tonsley Park, Adelaide.
The fund's establishment gives effect to the 5 February 2008 announcement by the Prime Minister, the Hon Kevin Rudd MP, the South Australian Premier, the Hon Mike Rann MP, and the Australian Minister for Innovation, Industry, Science and Research, Senator the Hon Kim Carr.
This discretionary grant program has total funding of $30 million (less administration costs) contributed by the Australian and South Australian Governments. It is designed to fund innovative job creation projects to strengthen South Australia's manufacturing and technology base. All industry sectors are eligible to apply including the information technology and services sectors.
Funding will be provided for up to 50 per cent of the eligible capital costs of the investment proposals, primarily being for plant and equipment and excluding land, buildings and infrastructure:
- The maximum grant will be $5 million. Applications involving capital investment of less than $500,000 will not be eligible;
- Investment proposals resulting in the creation of new jobs in South Australia at the expense of jobs elsewhere in Australia will not be supported;
- The program will be focused on Adelaide's southern suburbs although projects from other areas within the state will be considered. Applicants with proposals intended to be located in the southern suburbs may wish to consider the Southern Adelaide Economic Development Board's
economic development strategy (file size, 5MB).
Round 1 of the fund closed on 17 October 2008.
Potential applicants are strongly advised to read the Program Guidelines carefully before making the commitment to lodge an application.
Download the Program Guidelines (file size, 300kb).
Applicants will be required to submit a financial model for their project using 
the template provided .
For further information please ring the Structural Adjustment Team on 03 9268 7548 or send an email to saiif@innovation.gov.au