$50 million advanced manufacturing grants programme begins

Applications are
now open for the new $50 million Manufacturing Transition Programme, aimed at
businesses investing in higher-value manufacturing.

Opening yesterday and accepting applications until October 24, the first round of the federal
programme offers grants between $1 million and $10 million, covering up to 25
per cent of a project’s cost over a two-year period.

“The Manufacturing Transition
Programme is about moving firms away from low-tech commodity style production
that may not be globally competitive, to advanced manufacturing where
Australia’s specialised knowledge and skills give us an advantage,” said industry minister Ian Macfarlane in a statement yesterday.

To be eligible, a business
must manufacture and be based in Australia, as well as registered for the GST
and undertaking a project worth no less than $4 million.

The grants are
administered by AusIndustry, and the transition programme will run for three years, said Macfarlane.

For more
information, click here.

Image: http://growcobusiness.com/