Two hundred projects worth more than $215 million dollars are being supported through the Manufacturing Modernisation Fund (MMF) with the Federal Government is contributing $48.3 million.
The investments were announced today by the minister for industry, science and technology Karen Andrews, who said the job-creating investments couldn’t come at a better time, as the manufacturing sector grapples with COVID-19.
A spokesperson for the minister told Inside Waste this morning that there had already been several recycling initiatives included in the funding. This includes Palla Pharma Limited, a Victoria company producing a manufacturing system for the efficient recovery of alkaloid from waste. They have received a $263,371 MMF grant.
Andrews said that the government believes that support for these projects will enable manufacturers to modernise how they do business, with critical investment in small and medium sized businesses in the face of the coronavirus pandemic.
“The Federal Government is committed to helping Australian manufacturers prepare for the future and to employ more Australians. More than 2,600 new jobs are expected to be created by these successful projects,” Andrews said.
“We established the MMF before the coronavirus pandemic to help small and medium sized manufacturers invest in capital equipment and new technologies to transform and upgrade their manufacturing operations.
“Now as we face the coronavirus pandemic and look to come out the other side stronger, this investment will be more critical than ever.
“I am determined to further strengthen Australian manufacturing and the current pandemic gives us the opportunity as a nation to reassess and commit to the values of Australian-made goods.”
Large and small enterprises
These merit-based grants are divided between large and small scale projects and are the first to be allocated under the fund.
Grants totalling $35 million will go to 59 companies for large scale projects worth over $177 million. A further $13.3 million in grants will go to 141 small scale projects worth over $38 million.
According to Andrews, the MMF builds on other Federal 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.