The Federal Government has announced business grants are up for grabs through to January 21, 2021, to modernise Australian manufacturing.
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.
The grants, which will drive the country’s COVID-19 comeback, are round two of the $52.8 million Manufacturing Modernisation Fund (MMF).
Minister for Industry, Science and Technology Karen Andrews said the MMF Round Two was a key element of the Government’s $1.5 billion Modern Manufacturing Strategy.
“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,” she said.
“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.
“Round One of the MMF is already helping manufacturers to become more competitive and productive, with many already creating new jobs during the COVID-19 pandemic.
“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.”
The National Manufacturing Priorities are resources technology & critical minerals processing; food & beverage; medical products; recycling & clean energy; defence; and space.
Andrews said successful businesses would be required to match any government funding at least three-to-one.
“This is part of our Government’s mantra of providing a hand-up, not a hand-out. This is about backing businesses to back themselves and grow,” she said.
Round One of the MMF in April saw the Government invest $48.3 million into nearly 200 projects valued at more than $215 million. These projects are expected to create about 2,600 new jobs.
For details visit business.gov.au/mmf.