Renew Adelaide has secured funding for its current and additional activities for the next three years as a part of funding allocation the recent state budget announcement and Adelaide City Council’s financial year budget allocation.
The funding will allow Renew Adelaide to focus on longer-term strategic projects that support entrepreneurs, assist in the transformation of property and create vibrancy.
The state government has allocated $860,000 that includes $700,000 to core activities over three years, with further funding of $160,000 for a project aimed at supporting entrepreneurs aged under 25 and $200,000 annually for three years by Adelaide City Council.
“The State Government is proud to support Renew Adelaide, which has been revitalising empty spaces with more than 20 new small businesses each year since 2010,” Premier Jay Weatherill said.
“The 2016/17 State Budget includes $860,000 for Renew Adelaide so they can continue their important work giving young Adelaide entrepreneurs a foot in the door.
“The work of Renew Adelaide is also giving new life to precincts such as Topham Mall, West End and CBD laneways, making Adelaide a more interesting place to live, work or visit.”
Adelaide City Council Lord Mayor, Martin Haese said:
“Adelaide City Council has supported Renew Adelaide over a number of years now, and we’re pleased to extend this great partnership.
“By backing Renew Adelaide, Council is also backing local entrepreneurs who are really making a difference in our city.
“Their exciting new ideas create jobs, bring underutilised property to life and help the city grow and prosper.”
Renew Adelaide Chairman, Nick Begakis, said:
“This is an exciting time for Renew Adelaide with its future secured for an extended period of time. As an innovator the property industry, the funding allows for Renew Adelaide to expand its service to a wider range of entrepreneurs to create jobs and new careers in Adelaide.”
Renew Adelaide has operated to short-term funding for five years, which has delivered 23 new projects in the CBD and 75 FTE jobs supported by the Renew Adelaide program in the FY16.