Tony Pasin says a new Government Funding opportunity will assist small and medium sized manufacturing and processing businesses in Barker invest in new technology, with the launch of a new $160 million fund.
Mr Pasin said the Manufacturing Modernisation Fund would help manufacturers become more competitive by co‑funding investments in new technologies.
“Strengthening our core and emerging manufacturing industries is a key part of the Government’s economic plan to create 1.25 million new jobs over the next five years,” Mr Pasin said.
“Our Government is helping manufacturing businesses innovate and develop their global competitive advantage.”
“Investing in technology can transform businesses, enabling them to become more productive, manufacture new products and create new jobs.
“Barker manufacturing businesses are in poll position to capitalise on this opportunity as we encourage processing and manufacturing industries to ‘value add’ to our quality clean green products that we create here. From Forestry products, diary, meat, fruit and veg, Barker is bursting with opportunity to unlock more employment opportunities by investing in new technologies for processing and manufacturing.
“The fund will provide grants to small and medium manufacturing businesses so they can invest in capital equipment and new technologies to modernise and employ more people. It will also support businesses to upskill workers to maximise the benefits of technology.”
The Manufacturing Modernisation Fund will include $50 million from the Government and will be matched by at least $110 million from industry.
The fund will have two types of grants;
- $20 million will be for matched grants of between $50,000 and $100,000 for smaller scale technology investments.
- $30 million for larger-scale grants of up to $1 million, on a three to one funding basis with industry, to support transformative investments in technologies and processes.
The fund builds on other Government investments in manufacturing growth and competitiveness, including the $100 million Advanced Manufacturing Fund, the Advanced Manufacturing Growth Centre, the Entrepreneurs’ Programme, and the $40 million Innovative Manufacturing Cooperative Research Centre.
For more information on the Manufacturing Modernisation Fund visit www.business.gov.au/MMF
Media Contact: Charlotte Edmunds 8531 2466
