Meeting papers

3. The Economic Development Grant Program
The Economic Development Grants Policy was endorsed in 2017 with the aim to:

“support the delivery of the Local Economic Plan and enable collaboration an strategic partnerships
between Council, business representative groups and the business community. It will support
stakeholders to deliver outcome driven projects that will positively impact the local business
environment, business community and economy.”

Eligible applicants for the program include:
     • Not for profit incorporated business representative group
     • For profit businesses (where the project is not run for the direct profit of an individual business)
     • Consortiums

This Grant Program is open from 1 July each year and closes only when all grant funds allocated for that
particular financial year are distributed (which has never happened)

Categories
The EDPG has three categories of funding:
    1. Quick Response Grants This category supports small, one off projects such as workshops, meet
       ups and events that engage and benefit the Noosa business community.
    2. Project Partnership Grants Project Partnership Grants support innovative one-off projects of
       merit that have a positive impact on the local business environment and will be completed
       within 12 months of commencement.
    3. Multi Year Partnership Grants Multi Year Partnership Grants assist stakeholders to deliver longer
       term programs agreed by Council that extend beyond a 12 month period.

Application Process and Criteria

The Application Process is administered through SmartyGrants and are assessed by Council Officers
using the following criteria:
    • The extent to which the project aligns with and addresses key findings, weaknesses and/or
        threats, or targets the opportunities identified in the Economic Development Strategy
    • The extent to which the project can demonstrate community benefit
    • The scale of the economic impact likely to be achieved (e.g. creating the conditions for business
        success, industry or business development, investment attraction)
    • The level of innovation, insight or creative thinking that makes the project unique • The quality
        of the application (e.g. a well-developed, clear and realistic action plan, supported by research
        where appropriate and including an accurate financial plan/budget)
    • The ability of the organisation and/or stakeholder group to deliver the project
    • The potential for the project to create business/industry networks and partnerships that can
        drive future economic development activities.




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