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Monash Furniture wins $137,500 technology grant

October 3, 2014 • Grants

Clayton manufacturer Monash Furniture Pty Ltd has been awarded a $137,500 grant to acquire new equipment that will boost productivity, reduce waste and improve worker safety.

Image credit: flickr User: FabLab Den Haag

Image credit: flickr User: FabLab Den Haag

Minister for Manufacturing David Hodgett, who announced the grant on Thursday, said the money will be used to support the company’s purchase and installation of a state-of-the-art five axis computer numerically controlled (CNC) machine, a flatbed CNC machine and a loading crane.

“This major upgrade will improve the company’s productivity by enabling it to manufacture furniture 40% faster than was previously possible, while also further boosting the quality of its products,” Mr Hodgett said in a media release.

The grant is part of the Victorian Coalition Government’s Manufacturing Strategy, A more competitive manufacturing industry, which includes the $10.85 million Manufacturing Productivity Networks program to provide flexible support to networks seeking to expand their activities and the $26.9 million Investing in Manufacturing Technology (IMT) program to support investment in new and transformative technologies.

The IMT program is primarily targeted at medium-sized manufacturers and provides grants of up to $250,000 to promote growth, productivity and international competitiveness of manufacturing businesses by stimulating investment in new technologies.

Grants are matched by a minimum co-contribution from the business of 75% of total eligible project expenditure, or $3 for every $1 granted.

The Coalition Government has thus far approved IMT grants totalling $18.1 million to 103 businesses, supporting investment worth more than $86 million, creating 577 new jobs and resulting in the transition of over 715 jobs to higher value roles.

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