Sim­plot seek­ing $12 mil­lion grant

Tasmanian Country - - NEWS -

SIM­PLOT is in the run­ning for a fed­eral grant to upgrade its po­tato-pro­cess­ing plant at Ulver­stone.

Sim­plot is ap­ply­ing for $12 mil­lion in fund­ing through the Fed­eral Govern­ment’s Re­gional Growth Fund and its pitch has pro­gressed to full as­sess­ment of its busi­ness case.

As­sis­tant Min­is­ter for Agri­cul­ture and Wa­ter Re­sources Richard Col­beck said in­vest­ment through the fund sup­ported new jobs.

Se­na­tor Col­beck said Sim­plot’s ap­pli­ca­tion had now passed the ini­tial phase of the grant process.

He said the upgrade of the po­tato-pro­cess­ing fa­cil­ity was to see Sim­plot in­crease pro­duc­tion ca­pac­ity by 5 to 10 per cent over the next decade.

Se­na­tor Col­beck said the $12 mil­lion in govern­ment fund­ing would un­lock a fur­ther $37.1 mil­lion from the busi­ness.

He said the fund­ing would help bring about a pro­jected growth of $164 mil­lion in the lo­cal econ­omy with ad­di­tional rev­enue for lo­cal busi­nesses reach­ing ap­prox­i­mately $11.5 mil­lion by the third year of op­er­a­tion.

Se­na­tor Col­beck said Fed­eral In­dus­try Min­is­ter Karen An­drews would be tour­ing the Ul ver­sone po­tato fa­cil­ity to gain an un­der­stand­ing of the im­por­tance of this po­ten­tial in­vest­ment.

Newspapers in English

Newspapers from Australia

© PressReader. All rights reserved.