REGIONAL DEVELOPMENT INFRASTRUCTURE FUND

The Hon. R.L. BROKENSHIRE (15:17): I have a supplementary question. Will the minister advise the house what the total annual amount allocated by government to the Regional Development Infrastructure Fund is, and how are people able to make application?

The Hon. G.E. GAGO (Minister for Regional Development, Minister for Public Sector Management, Minister for the Status of Women, Minister for Consumer Affairs, Minister for Government Enterprises) (15:17): I thank the honourable member for his most important question. The RDIF is $3 million per annum. I am advised it consists of three rounds each year: March, July and November. Proponents provide financial information to support an extensive assessment, and obviously the due diligence process is a very rigorous one.

Applications are assessed by an assessment panel, which makes recommendations to the Minister for Regional Development, and contracts are executed by the Treasurer and monitored by the South Australian Financing Authority (SAFA). The RDIF is obviously a very important instrument for implementing the Strategic Infrastructure Plan for South Australia and for achieving South Australia's Strategic Plan targets in regions, particularly lowering regional employment, which is one of the areas we focus on, and raising regional population numbers, encouraging regional investment and increasing the state's export earnings are other areas we focus on.

The RDIF has operated successfully since 1999. Since its inception, approximately $29.7 million of RDIF assistance has supported projects that have generated an estimated 5,500 new jobs—over $1.39 billion in total project investment. The RDIF is managed by DTED through the Industry Liaison and Regional Development business unit. The RDIF committed around $2 million to support 11 projects in 2009-10, which will generate an estimated 178 new jobs, with a total project investment of approximately $6 million.

I have been advised that in 2010-11, the RDIF has thus far committed $48,882 in the July 2010 funding round to support one project that will generate 10 new jobs, with a project investment of $750,000. The applications from the November round are currently being assessed and DTED has made enhancements to the program—you will be very pleased to hear this, Mr President—after conducting a review of the RDIF, which included consultations with internal and external stakeholders, that highlighted opportunities to improve policy and operational aspects of the program. DTED will also implement revised guidelines and assessment criteria, application processes and application forms prior to the March 2011 RDIF funding round. So, we are always reviewing what we do and attempt to ensure that we streamline the process as best we can.