Simplot seeking $12 million grant
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.