Manufacturers in South Australia and Victoria will share in $31.6 million to boost their high value manufacturing capability as part of the Turnbull Government’s $90 million Next Generation Manufacturing Investment Programme.
The second round of funding under the programme will help 22 firms to undertake capital projects to support technological innovation, expand capability and develop state-of-the-art processes and equipment.
A complementary investment of $104.5 million from the firms will result in a $136 million injection to the manufacturing sector across both states, delivering strong economic benefits and creating over 500 jobs.
Funded projects will boost advanced manufacturing capabilities across several industries including the pharmaceutical and medical device sectors, precision engineering and tooling, industrial textiles and engineered timber building products.
These grants will support businesses to invest in their future by developing innovative new processes and cutting-edge equipment.
Thirteen Victorian firms will be offered total funding of $16.2 million, which is expected to leverage more than $78 million in investment.
A further $15.4 million will be offered to nine South Australian firms for projects with a total investment of over $57 million.
The $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.
Round 1 of the programme invested $55.5 million in 26 firms in South Australia and Victoria for projects with a total investment of $146.8 million.
The full details of Round 2 recipients of the Next Generation Manufacturing Investment Programme are available at www.business.gov.au/nextgen-recipients