The program targets companies wanting to relocate or expand to the Gold Coast from export focused and knowledge-based industry sectors. For companies interested in accessing financial assistance under our program the following eligibility criteria will apply:
- the applicant must have a successful and proven track record and the capability (technical, managerial and financial) to carry out the activity proposed
- the applicant must have been operating profitably for at least the past two years
- the applicant company must provide significant net economic benefits to the city that will result in the creation of sustainable jobs for the city’s workforce
- the applicant must have, or can obtain, an Australian Business Number (ABN)
- the applicant must not be a Gold Coast registered business unless it can be demonstrated that the business is implementing a new business stream or activity resulting in significant ongoing economic impact (all eligibility and assessment criteria must still be met)
- the proposed activity must be commercially viable in the absence of any financial assistance that may be provided by City of Gold Coast
- the proposed activity must not cause significant detriment to, and/or be a substitute for, existing businesses located within Gold Coast City
- the proposed activity must not have been committed to or commenced within Gold Coast City prior to applying for our program
- the proposed activity must be contestable with other cities, states or countries
- the proposed activity must not compromise national and international obligations for Queensland and Australia.
Application and approval process
To discuss your eligibility to access financial assistance and the timeframes involved please contact City of Gold Coast. Once deemed eligible, the calculation of financial assistance is based upon the first two years of the new operation within City of Gold Coast and takes into consideration:
- capital investment – level of incentive is based upon a minimum investment of $1 million in areas such as land and/or building acquisition, construction costs, fitout and equipment required; does not take into consideration leases, IP, holding stock, acquisition of an existing business and equipment that is to be relocated from an alternative location
- full time job creation – level of incentive is based upon the number of full time direct employees earning over $50,000 base salary per annum:
- higher incentives apply for employees earning over $80,000 base salary per annum
- these must be full time employees (not full time equivalents or temporary positions) of the business
- it will not take into consideration contract workers, contractors, consultants and existing full time employees that are relocating from neighbouring Council jurisdictions including Logan, Scenic Rim, Redland and Tweed Shire
- research and development – level of incentive is based upon a minimum spend of $250,000 per annum on research and development activities; an additional criteria applies for companies wishing to access incentives under this category, please discuss with City of Gold Coast to determine your eligibility.
Final approval will be at the discretion of City of Gold Coast. All financial assistance offers are conditional and subject to contractual obligations in achieving agreed milestones and reporting requirements.