South Australia and Victoria’s manufacturing industry will receive a $30 million injection to support capital investment in high value manufacturing capability.
Minister for Industry, Innovation and Science Christopher Pyne last week announced Round 2 of the Next Generation Manufacturing Investment Programme was open for applications.
“The Government is committed to a strong and sustainable manufacturing industry in Australia,” Pyne said.
“This competitive grants round will support more businesses to invest in manufacturing operations driven by technological innovation, advanced processes, and a highly skilled workforce.
“Eligible businesses will be able to compete for grants between $500,000 and $2.5 million, to up to a third of their total project costs.
“Round 1 of the programme is providing grants to 26 firms from a range of sectors, including defence and aerospace, transportation, steel, pharmaceuticals and medical devices.
“These are expected to leverage investment of over $146 million on projects that will help the businesses extend their capability and competitiveness and expand into new markets.
“Helping these firms invest in extending their manufacturing capabilities will deliver strong economic benefits for South Australia and Victoria.
“I encourage any eligible businesses looking to invest in high value manufacturing capabilities to apply for this new funding round, which will provide an additional $30 million in support.”
The now $90 million Next Generation Manufacturing Investment Programme is a key part of the Australian Government’s $155 million Growth Fund to assist employees, businesses and regions affected by the closure of Australia’s car manufacturing industry by 2017.
It was originally announced as a $60 million dollar programme, which included contributions of $12 million each from the South Australian and Victorian state governments.
Applications to Round 2 of the programme are open from 29 January until Monday 18 April.