Page 2314 - Week 11 - Wednesday, 1 November 1989
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Businesses which will be eligible for assistance under the program will be those which are judged to be able to provide sustainable and diversified employment, particularly for the target groups identified in the Government's social justice strategy.
They will be businesses which will provide an increase in the level of ACT exports and import replacement. They will introduce new skills or technology to the ACT. They will be businesses that are critical in the overall development of the private sector in the ACT.
The type and level of assistance offered to successful applicants will be tailored to the particular needs of the business undertaking the investment and to the potential contribution of the investment project to the ACT economy.
All industries are eligible for assistance. However, industries which are particularly suited to the ACT are advanced technology and other high value added export industries; tourism; finance; business and personal services; and the broader services sector.
Two broad streams of new assistance will be funded through the budget allocation. Business development assistance will be available for such measures as the purchase and installation of essential new plant and equipment, market and feasibility studies and for other one-off establishment costs. Work force development assistance will provide assistance with analysis of training needs, recruitment and transfer of key staff and other aspects of human resources development.
For marketing purposes, these new assistance elements will be packaged with existing forms of incentives and assistance - direct land purchase and the national industry extension service. The program will be vigorously marketed as part of an enhanced marketing effort by the Office of Industry and Development, emphasising the ACT's many natural advantages for business and investment. Public guidelines will be issued for the program.
These guidelines, currently being finalised, will provide prospective applicants with the objectives of the program, details of the types of assistance available and information on how to apply for assistance. Each application for assistance will be assessed on its merits according to the capacity of the business and the project to contribute to the objectives of the program.
A confidential register and individual records will be kept of all applications for assistance, assessments of those applications, agreements entered into for the payment of assistance, payments made to any party as a part of any package of assistance and any follow-up action taken to verify that assistance has been used for agreed purposes.
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