19 successful applicants for the first round of the Manufacturing Transition Program were awarded nearly $50 million yesterday.
The applicants come from a range of different industries, including food and beverage, mining, aerospace and medical technologies, and receive up to 25 per cent of costs to co-invest in new capital equipment and plant improvements.
There were $48,139,024 worth of of funds allocated for projects worth $254,456,429, which supported “high-value” manufacturing.
A joint statement from industry minister Ian Macfarlane and prime minister Tony Abbott yesterday said the grants were in line with an election pledge to focus on “areas of competitive strength”.
“Bega Cheese will be able to invest in more sophisticated and knowledge-intensive manufacturing, creating high value jobs in areas where the greatest economic opportunities exist,” said Eden Monaro MP Peter Hendy, according to Bega District News.
Bega’s project involved investment in new equipment to increase the production of lactoferrin from milk solids.
Hearing implant maker Cochlear will use its $3.25 million grant to “bring back manufacturing capability on-shore for its next-generation hearing implants” through upgrades at three sites.
Other successful applicants in the competitive grants programme included Ferra Engineering, Mulgowie Fresh, and Nissan Casting Australia. There were 79 applicants.
To see the full list of recipients, click here.
Image: https://accede.com.au/