Sealite Pty Ltd is amongst 22 manufacturers that 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.
Somerville-based Sealite Pty Ltd will receive a $1,084,891 grant, under Round 2 of the Programme, for a $10.5 million project to establish a new Advanced Manufacturing and Innovation Centre for specialist marine navigation aids and aviation ground lighting systems in Tyabb.
The Next Generation Manufacturing Investment Programme will deliver strong economic benefits to South Australia and Victoria. It will help firms in both states invest in technologically innovative, advanced manufacturing processes and increased production capacity.
Round 2 funding will leverage $104.5 million in complementary investment from the firms, giving the manufacturing sectors in Victoria and South Australia a $136 million injection, and creating over 500 jobs.
Under this funding round, 13 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 projects will boost advanced manufacturing capabilities across several important industry sectors, including pharmaceutical and medical devices, precision engineering and tooling, industrial textiles and engineered timber building products.
This is a great opportunity for Sealite to invest in its future by boosting its advanced manufacturing capability, which in turn creates jobs and increases its ability to compete on the global stage.
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