Grants to help modernise city manufacturing
INDUSTRY, science and technology Minister Karen Andrews visited town yesterday to launch the application period for the $52.8 million Manufacturing Modernisation Fund.
The fund will back local manufacturers with shovelready projects that will create jobs and drive the country’s COVID-19 comeback.
Businesses will be able to apply for grants of between $100,000 and $1 million to invest in new technology to increase their productivity, create new jobs and drive economic growth.
Minister Andrews said the MMF round two was a key element of the Government’s $1.5 billion Modern Manufacturing Strategy.
“The government knows that manufacturing is central to our nation’s economic future and creating jobs for the recovery from COVID-19 and for future generations,” Minister Andrews said.
“In these uncertain times, we’re giving manufacturing businesses the confidence and certainty they need to invest in themselves to deliver new and innovative products and services.
“We want to deliver more products for Australians, and beyond that, we want to open up more opportunities for manufacturers to take on the world with their top quality products.
She said round one of the MMF had already helped manufacturers to become more competitive and productive.
“The big change between round one and round two is that this time we will play to our nation’s strengths, with the projects needing to align with the national manufacturing priorities announced as part of our modern manufacturing strategy,” she said.
Ms Andrews said successful businesses would be required to match any government funding at least three-to-one.
Round one of the MMF in April saw the Government invest $48.3 million into nearly 200 projects valued at more than $215 million.
Applications for Round Two of the MMF will be open until January 21, 2021.
For more information visit business.gov.au/mmf.