The federal government is boosting South Australia's and Victoria’s manufacturing industry with a $30 million injection to support capital investment in high value manufacturing capability.
The Minister for Industry, Innovation and Science Christopher Pyne today 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,” Mr 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.
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.