In a leadership commitment to creating a sustainable future, Council has launched the 2010/11 Economic Development Fund designed to diversify and strengthen the local economy.

The Fund is presented as a two-tiered stream that will supply funding support for the development and delivery of projects that demonstrate economic benefit to the Cairns region in the key areas of economic diversification and tourism development.  

Mayor Val Schier said Council would continue to play a lead role in economic growth.  “Earlier this year we dedicated a significant portion of the budget to economic development and have substantially grown our economic development team of specialists,” Cr Schier said.

In the 2010/11 financial year Council budgeted $645,000 to construct an overall plan for the region’s economic development that includes research in diversification, investment potential and business expansion.

“One of the services Council provides is an on-line profiling tool to accurately describe the nature of the local economy and its performance. This is a powerful device for potential investors.”

Cr Schier said applying for financial assistance under the double streamed Economic Development Fund is a straight forward process.  “Applicants are able to access both the guidelines and the application forms at Council’s website,” Cr Schier said “Under the economic diversification category applicants can apply for a maximum of $20,000.  This will provide financial support for projects in research, marketing or promotion of new and innovative products or projects that invite investment in the region".

The tourism development category offers funding up to $50,000 per application.  

This stream provides for tourism and marketing campaigns and tourism based research and development projects.