Placemaking initiative aims to revitalize local commercial areas
Singapore’s heartland businesses can now apply for a new Heartland Enterprise Placemaking Grant, which provides funding of up to S$10,000 per project to support innovative community activities. Announced by Minister of State for Trade and Industry Low Yen Ling during the Committee of Supply debate, the grant aims to enhance local business districts through engaging public initiatives.
Funding details and eligibility
The grant will cover up to 50% of eligible costs, with a cap of S$10,000 per project. Supported activities include:
Community engagement initiatives
Public art installations
Workshops
Thematic festivals
Costs related to third-party consultancy, equipment, marketing, event management, and auditing will be eligible for funding. However, the grant will not cover operational costs or common activities such as festive light-ups, bazaars, and traditional night markets.
To qualify, applicants must be Singapore-registered businesses with:
At least 30% local shareholding
A physical storefront in the heartlands
Fewer than 200 employees
Annual revenue of no more than S$100 million
Interested businesses can apply through the Heartland Enterprise Centre Singapore starting March 1, 2024.
Pilot projects in Bukit Gombak and Tampines West
As part of Singapore’s heartland revitalization efforts, two pilot projects will be launched:
Bukit Gombak Neighbourhood Centre will transform into a “modern heritage heartland hub”, with an April festival celebrating its history and culture.
Tampines West Neighbourhood Centre will develop into a “heartland events hub”, following the success of Wunderground, a pop-up lifestyle event that attracted over 30,000 visitors in October 2023.
Business competitiveness initiative
In addition to the grant, Singapore’s Ministry of Trade and Industry (MTI) and the Singapore Business Federation (SBF) are launching a new Alliance for Action on Business Competitiveness. The alliance, co-chaired by Low and SBF’s deputy honorary treasurer Mark Lee, will include 18 representatives from the government, trade associations, and unions.
This initiative will focus on improving manpower, land use, and regulatory frameworks to help businesses remain competitive in an uncertain global economy. The group will conduct industry consultations and aims to release recommendations by Q4 2024.
Through these efforts, Singapore aims to support heartland businesses while ensuring long-term economic resilience and innovation.
