Tourism Icons Investment Fund: Round 1

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This is a preview of the Tourism Icons Investment Fund Round 1: Expression of Interest form. When you’re ready to apply, click Fill Out Now to begin.
 

Expression of Interest - Eligibility

Program Overview

The Tourism Icons Investment Fund (TIIF) has been designed to support the development of infrastructure, attractions and experiences that exceed expectations and leave lasting benefits to communities, create jobs and support more tourism-related businesses to grow and thrive.

TIIF Round 1 is a $20 million strategic tourism initiative designed to stimulate private sector investment and enhance Queensland's tourism offerings. 

The desired outcome of the fund is to bring enhance tourism offerings to market to increase the duration of a visitors stay in Queensland. 

Available Funding

Funding of up to $5 million (ex GST) is available under Round 1 of the TIIF to eligible applicants and projects.

Available funding is on a 1:1 co-contribution basis with applicants to contribute at least 50% of total eligible project costs (ex GST). For example, the awarding of a minimum grant of $1 million (ex GST) would deliver an infrastructure/experience project of at least $2 million (ex GST) in eligible project costs.

Applications over $5 million (ex GST) or applications seeking a variation to the co-contribution may be considered at the discretion of the assessment panel.

Ineligible costs will not be considered part of the applicant’s co-contribution and must be borne by the applicant.

TIIF funding cannot be used for a project that has commenced. However, TIIF funding is able to be used for different and distinct elements or stages of the project.

The applicant must be the legal owner of assets purchased or created using the funding.

Applications are subject to competitive assessment against the criteria set out in these guidelines. Submitting an Expression of Interest or Full Business Case application is not a guarantee of funding approval.

Eligibility

Applicant Eligibility

To be eligible for funding consideration an applicant must:

  • be an established tourism operator in Queensland or
  • be a new operator, or an operator from another Australian jurisdiction, who can demonstrate active establishment of tourism operations in Queensland with significant tourism benefits to Queensland and
  • hold an Australian Business Number (ABN) and
  • be registered for GST at the time of application.

Preference will be given to tourism businesses with Sustainable Tourism accreditation, or equivalent, reflecting their commitment to environmental, community, and economic sustainability, alongside high standards of safety and customer satisfaction.

Not-for-profit organisations and Queensland Local Government Authorities that provide a tourism service or experience are eligible to apply for funding under this program.

If a consortium submits an application, the lead partner must be an eligible organisation and, if successful, will be responsible for executing the Funding Agreement and managing project delivery, including progress and financial acquittal reports. Documented evidence of involvement and support of consortium partners must be provided as part of the application.

Bodies not eligible for funding under the program include:

  • State, Territory and Australian Government agencies or associated agencies such as statutory bodies or government owned corporations and
  • Applicants that do not meet eligibility requirements.

Project Eligibility

To be eligible for funding consideration, a project must:

  • have relevant zoning that allows tourism infrastructure or experience and
  • align with Queensland Government’s Destination 2045 Plan and
  • already have in-principal support from local government and Traditional Owners, where required and
  • be substantially progressed towards gaining, or having gained, all relevant Local, State and Australian Government approvals (including Development Approval/s), if applicable and
  • applications must demonstrate significant progress towards obtaining Development Approval (DA), or ideally, have already secured DA (preference will be given to projects with DA in place, as this indicates readiness for commencement, where applicable) and
  • be investment ready, with access to or have secured funding and
  • commence within 12 months of funding approval.

Priority will be given to projects with a completion date of June 2028, however projects with a completion date after this date are still encouraged to apply.

Priority will also be given to applications with established tenure arrangements and owner consent.

EOI Requirements

The EOI will need to include:

  • total cost of the project and
  • strong evidence of access to, or have, secured funding for the project and
  • project’s implementation/construction readiness – status of current stage.

The submission of an EOI does not guarantee an invitation to submit a Full Business Case.