Applications are now open for round two of the $52.8 million Manufacturing Modernisation Fund.
Businesses will be able to apply for grants of between $100,000 and $1 million to invest in new technology to increase their productivity, create new jobs and drive economic growth.
Minister for Industry, Science and Technology, Karen Andrews, said the MMF Round Two was a key element of the government’s $1.5 billion Modern Manufacturing Strategy.
“The Morrison Government knows that manufacturing is central to our nation’s economic future and creating jobs for the recovery from COVID-19 and for future generations,” she said.
“In these uncertain times, we’re giving manufacturing businesses the confidence and certainty they need to invest in themselves to deliver new and innovative products and services.
“We want to deliver more products for Australians, and beyond that, we want to open up more opportunities for manufacturers to take on the world with their top quality products.
“Round One of the MMF is already helping manufacturers to become more competitive and productive, with many already creating new jobs during the COVID-19 pandemic.
“The big change between Round One and Round Two is that this time we will play to our nation’s strengths, with the projects needing to align with the National Manufacturing Priorities announced as part of our Modern Manufacturing Strategy.”
The National Manufacturing Priorities are resources technology and critical minerals processing, food and beverage, medical products, recycling and clean energy, defence, and space.
Minister Andrews said successful businesses would be required to match any government funding at least three-to-one.
“This is part of our Government’s mantra of providing a hand-up, not a hand-out. This is about backing businesses to back themselves and grow,” she said.
Round One of the MMF in April saw the government invest $48.3 million into nearly 200 projects valued at more than $215 million. These projects are expected to create about 2,600 new jobs.
Applications for Round Two of the MMF will be open until 21 January 2021.