Tourism Icons Fund: Powering the Next Wave of TNQ Infrastructure, what are the projects that could attract funding?
The Tourism Icons Investment Fund is open for the second round of Expressions of Interest from tour operators with the vision to develop world-class tourism experiences and infrastructure for Queensland as part of the Destination 2045 vision. Two significant pieces of future infrastructure in our destination have already benefitted from this fund and I am looking forward to working with members to identify more projects that would elevate Tropical North Queensland as a destination.
Reef Magic was successful in receiving $4 million in funding from Round 1 to build a new vessel and the Cairns Adventure Group received $677,152 to develop a flood-resistant rafting operations centre and new Queensland tourism icon, The Big Paddles. These projects were recognised by the Queensland Government as infrastructure that would attract visitors, create jobs and deliver enduring economic and social benefits for our community.
Funding between $1 million and $5 million (GST exclusive) is available to eligible applicants and projects to support the delivery of iconic tourism projects in Queensland. It is provided on a 1:1 co-contribution basis, meaning applicants must contribute at least 50% of the total eligible project costs (GST exclusive). For example, a grant of $1 million (GST exclusive) would support a project with a minimum total eligible cost of $2 million (GST exclusive).
What are the projects that could attract this funding? The Government has identified large-scale eco-lodges, sustainable luxury stays and the transformation of Great Barrier Reef island resorts as examples of the bold, innovative tourism experiences that showcase Queensland’s unique environment and culture. The following sectors will be considered:
- Ecotourism
- Adventure tourism
- Dark sky tourism
- Agritourism
- Coastal and marine tourism
- Cultural and heritage tourism
- Paleo tourism.
As a cornerstone of the Destination 2045 20-year tourism plan, this investment will support tourism infrastructure that drives job creation, attracts new investment, grows visitation and showcases Queensland’s unique natural and cultural assets for decades to come.
TTNQ and our fellow Regional Tourism Organisations will be briefed on the eligibility and assessment considerations today. This includes updates such as the increased focus on project readiness, development approvals and revised delivery expectations for Round 2. The session will help ensure TTNQ is well placed to support potential applicants and understand the updates being introduced for Round 2.
The Department of the Environment, Tourism, Science and Innovation and QTIC will hold an industry webinar on Friday at 10am with a live Q&A to understand if the fund is right for your project.
We are also looking forward to future announcements on the opening of the Regional Tourism Infrastructure Fund EOIs to complement the broader Tourism Icons Investment Fund under the Destination 2045 Plan. Tourism Icons Investment Fund EOIs close 10 August with full business case invitations opening on 7 September and closing on 9 October. The funding will be announced in December. To be eligible for funding consideration an applicant must:
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- be a new or established tourism operator who can demonstrate active establishment of tourism operations in Queensland through evidence of land tenure, lease arrangements, and/or existing operations;
- hold an Australian Business Number; and
- be registered for GST at the time of application.
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Cheers,
Mark Olsen
Chief Executive Officer