Minister for Manufacturing, Exports and Trade Richard Dalla-Riva visited Relay Monitoring Systems in Mulgrave last week to announce that 19 local manufacturers would share in $3.4 million to invest in new technology and equipment designed to boost productivity and global competitiveness.
The projects are supported under the first round of the Government’s Investing in Manufacturing Technology (IMT) program. IMT is an integral part of the Victorian Coalition Government’s $58 million Manufacturing Strategy announced in the 2012-13 State Budget. Grants of up to $250,000 were made available on a competitive basis to help manufacturers purchase and integrate new technologies
“Victoria is the hub of Australia’s manufacturing industry but to meet the challenge of the high Australian dollar and competitive international markets, manufacturers must look to increase investment in new technology to remain competitive,” Mr Dalla-Riva said.
The first round of the IMT is expected to generate projects that will create at least 82 new jobs and transition 164 employees to higher value roles, Mr Dalla-Riva revealed.
“These grants are an excellent example of how our strategy is helping local manufacturers to improve production processes, develop new skills and diversify their production to assist them in expanding into new export markets,” Mr Dalla-Riva said.
“Relay Monitoring Systems, which designs and manufactures high standard electrical protection equipment for power utilities has been awarded an IMT grant of $250,000 to purchase automated test and measurement equipment to expand its in-house testing capability. This will increase production capacity, shorten lead times and improve quality and performance, which will enhance the company’s export competitiveness,” Mr Dalla-Riva added.
All grants require a minimum co-contribution from the business of 75% of total eligible project expenditure (i.e. $3 for every $1 granted). Eligible project expenditure includes capital expenditure and other project-related non-capitalised expenditure but does not include internal costs, salaries or resources.
A full list of the successful IMT Round 1 recipients can be found here > Download PDF