❓ A WA parliamentary question seeks details about the Value Add Agribusiness Investment Attraction Fund's selection process, panel composition, financial assessments, and consideration of competitive interests. The Minister's response provides information on the application process, assessment panel, financial reviews, and previous grant recipients.
AnsweredQoN 5079Legislative Assembly
Asked
11 April 2019
Member
Portfolio
Regional Development; Agriculture and Food; Ports; Minister Assisting the Minister for State Development, Jobs and Trade
QuestionView source ↗
I refer to the Value Add Agribusiness Investment Attraction Fund, and ask: (a) Can the Minister outline the selection process used to determine the successful recipients of this taxpayer funded grants program; (b) Who was on the selection panel that made recommendations to the Minister; (c) What are the job titles/positions of the selection panel members; (d) Did the Minister support all the recommendations of the panel: (i) if not, what changes were made; (e) Were the Development Commissions consulted as part of the selection process; (f) Were any financial assessments done of the successful applicants, to ensure financial integrity and, by extension minimise risk, to taxpayer's funds; (g) Have any of the grant recipients received other State taxpayer funded grants: (i) If so, which businesses and for what amounts; (h) Was competitive interest between like businesses in a region considered when awarding a grant to one business; and (i) What consideration has been given to businesses who operate in direct competition to the successful grant recipients in their region?
AnswerView source ↗
Answered
15 May 2019
Responded by
Minister representing the Minister for Regional Development; Agriculture and Food; Ports; Minister Assisting the Minister for State Development, Jobs and Trade
Response time
5 days
(a) Applications opened on 24 August 2018 and closed on 19 October 2018. The fund was announced via media release, and promoted widely via DPIRD networks, Regional Development Commissions, and advertising.
An Assessment Panel individually assessed all eligible applications via a weighted Excel tool in line with the application and aims of the program and the Royalties for Regions Fund.
The Assessment Panel met and reviewed applications, and together determined a list of recommended projects. The Assessment Panel requested further specific project and financial assessment be conducted for each of the recommended applicants, before providing their final recommendations.
A robust project and financial assessment process was conducted which included: financial review; Royalties for Regions governance review; cross-referencing across DPIRD, Regional Development Commissions; and Austrade intelligence.
Final recommendations were provided to the Minister for Regional Development; Agriculture and Food, for decision.
(b) – (c) Mr Liam O’Connell, Panel Chair, Executive Director Trade and Investment, DPIRD, Dr Bill Ryan, External Consultant, Ms Julie Cox, External Consultant, Ms Charlotte Maddock, DPIRD Secretariat (non-voting member).
(d) All projects recommended to the Minister were supported. (i) Not applicable.
(e) Each Regional Development Commission was provided the opportunity to comment on recommended projects and applicants in its region.
(f) Projects recommended by the Assessment Panel were asked to provide further information on the following:
• Profit and loss statements for the past two financial years
• Cash flows for the past two financial years
• Current balance sheet
• Confirmation of project funding arrangements, including source of co-contribution
• Completion of a project business case template as provided, together with any associated documentation that supported the investment decision for the project.
The project business case template requested project capital costs, together with outlook for volumes, financial, and employee outcomes. It demonstrated current position together with a five-year outlook on outcomes. The financial information was assessed for financial viability to deliver the project.
(g) Yes – Regional Economic Development Grants, however, there is no overlap in the purpose for which funding was made available.
(i) Lucky Bay Brewing - $198,442 Ocean Grown Abalone Limited - $85,000 Avon Valley Beef - $190,000
(h) – (i) All eligible businesses had the opportunity to apply for the grants program. Each application was assessed independently on its merits, in line with the intent of the grant to support investment in new project or expansion opportunities by value adding agribusiness, and the criteria of the grant. Panel members were not asked to make assessments outside of the goals of the scheme or the scope of the information provided.
An Assessment Panel individually assessed all eligible applications via a weighted Excel tool in line with the application and aims of the program and the Royalties for Regions Fund.
The Assessment Panel met and reviewed applications, and together determined a list of recommended projects. The Assessment Panel requested further specific project and financial assessment be conducted for each of the recommended applicants, before providing their final recommendations.
A robust project and financial assessment process was conducted which included: financial review; Royalties for Regions governance review; cross-referencing across DPIRD, Regional Development Commissions; and Austrade intelligence.
Final recommendations were provided to the Minister for Regional Development; Agriculture and Food, for decision.
(b) – (c) Mr Liam O’Connell, Panel Chair, Executive Director Trade and Investment, DPIRD, Dr Bill Ryan, External Consultant, Ms Julie Cox, External Consultant, Ms Charlotte Maddock, DPIRD Secretariat (non-voting member).
(d) All projects recommended to the Minister were supported. (i) Not applicable.
(e) Each Regional Development Commission was provided the opportunity to comment on recommended projects and applicants in its region.
(f) Projects recommended by the Assessment Panel were asked to provide further information on the following:
• Profit and loss statements for the past two financial years
• Cash flows for the past two financial years
• Current balance sheet
• Confirmation of project funding arrangements, including source of co-contribution
• Completion of a project business case template as provided, together with any associated documentation that supported the investment decision for the project.
The project business case template requested project capital costs, together with outlook for volumes, financial, and employee outcomes. It demonstrated current position together with a five-year outlook on outcomes. The financial information was assessed for financial viability to deliver the project.
(g) Yes – Regional Economic Development Grants, however, there is no overlap in the purpose for which funding was made available.
(i) Lucky Bay Brewing - $198,442 Ocean Grown Abalone Limited - $85,000 Avon Valley Beef - $190,000
(h) – (i) All eligible businesses had the opportunity to apply for the grants program. Each application was assessed independently on its merits, in line with the intent of the grant to support investment in new project or expansion opportunities by value adding agribusiness, and the criteria of the grant. Panel members were not asked to make assessments outside of the goals of the scheme or the scope of the information provided.
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