New fund to support Queensland defence industries

The Queensland government announced that it will increase the support that it provides to manufacturers who are engaged in the defence and aerospace industries, or looking to apply their products in these sectors.

The Defence and Aerospace Industry Development (DAID) Fund, with $1.5 million in funding, will provide up to $30,000 in matched funding to SMEs to attain certification to participate in global supply chains, said Minister for State Development, Manufacturing, Infrastructure and Planning, Cameron Dick.

“The next stream of the fund, proposed to open next year, will support SMEs to participate in targeted international trade shows to engage with national and international companies,” he said.

Already, Queensland manufacturing businesses have benefited from the LAND 400 Phase 2 project, delivered by Rheinmetall Defence Australia, which is carrying out these operations from its base in Ipswich, Queensland.

“Winning the $5.2 billion LAND 400 Phase 2 project was an incredibly hard-fought battle, and we want Queensland SMEs to benefit from new potential contracts,” said Dick.

“A project of this calibre is expected to create up to 450 jobs for Queenslanders at the MILVEHCOE and through the local supply chain, pumping more than $1 billion into the economy over the life of the project.”

Applications for the DAID program can be submitted by 5pm on Thursday, 12 December 2019.