Food manufacturer Colonial Farm has received $1.1 million in assistance as part of Melbourne’s North Innovation and Investment Fund (MNIIF) which was set up to deal with imminent departure of Ford.
Invest in Australia reports that the company will use the money to help design, install and commission a refrigeration system for its new $4.3 million plant at Broadmeadows.
The $24.5 million MNIIF was developed by the Victorian Coalition Government in partnership with the Federal Government and Ford.
According to Federal Industry Minister Ian Macfarlane, the money will help Colonial Farm to establish a third production line at its new manufacturing and warehouse plant.
"The $4.3 million third production line will enable Colonial Farm to substantially expand the range and volume of food products that it manufactures,” Macfarlane said.
"It will help Colonial Farm grow its Australian market base, and will be important for further developing its export potential to Asia, where demand for processed food products is booming.
"The MNIIF is about attracting investment and business to this important manufacturing region and maintaining a strong, sustainable and competitive manufacturing sector."
Victorian Minister for Manufacturing David Hodgett officially opened the new Colonial Farm manufacturing and warehousing facilities.
"Colonial Farm has shown great confidence in Victoria’s manufacturing future by constructing a new purpose-built facility in Broadmeadows to expand its operations," Hodgett said.
"Its new third production line will allow it to increase its range of value-added frozen meal and snack products.
"The new production line will create 25 more jobs at Colonial Farm, with more likely in future.