$8 Million Innovation & Investment Fund Announced for Tasmania
Tasmania, Australia – (News4us.com) October 03, 2011
The Australian Government today announced the launch of the Tasmanian Innovation and Investment Fund (TIIF) a jobs diversification and investment boost for Tasmania.
The intent of this new Federal funding is to see the creation of more jobs across Tasmania and the long-term creation of sustainable employment through regional diversification.
Part of the re-structuring of the forestry sector and the much broader impacts this will have on employment within the tiny island nation.
TIIF constitutes part of the Tasmanian Forests Intergovernmental Agreement.
Innovation Minister Senator Kim Carr declared it as “an important part of the economic diversification package to improve the breadth of the state’s economy”.
The TIIF will work with companies to provide support for new investments across a wide range of industries.
It is aimed at giving support to ongoing and newly established business projects that generate high quality, sustainable skilled jobs.
The Minister for Regional Australia, Simon Crean, said the fund will provide an exciting opportunity for innovative businesses to generate new jobs while broadening the Tasmanian economy.
The Premier of Tasmania, Lara Giddings, welcomed the Australian Government’s Tasmanian Innovation and Investment Fund announcement.
Support of key industries through a strategy of diversification and economic development are all part of the TIIF funding.
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