The Federal Government has announced $800 million in funding for Australian large-scale manufacturers developing major job creating projects under the Collaboration Stream of its $1.3 billion Modern Manufacturing Initiative (MMI).
Minister for Industry, Science and Technology Christian Porter said manufacturers can now apply for funding of between $20 million and $200 million, covering up to 33% of eligible project expenditure.
He said the Government will strategically invest in projects within the six National Manufacturing Priority areas, including medical products; clean energy and recycling; food and beverage; defence; space and resource technology and critical minerals processing.
“As a Government we plan to harness Australia’s manufacturing capability to drive job creation and spur private investment, especially as we chart our economic recovery from COVID-19 and build our future resilience,” Minister Porter said.
“Through the Collaboration Stream, we are determined to co-invest in industry-led proposals that will transform our National Manufacturing Priority areas, by encouraging manufacturers to move up the value chain to higher value, higher margin activities, including drawing on our world class research.
“This is at the heart of our $1.5 billion Modern Manufacturing Strategy which is all designed to support Australian manufacturers to scale-up, build resilience, become more competitive and create the jobs we need not only now but for generations to come.”
Applications are open until 9 September. More details and the guidelines are available at https://business.gov.au/grants-and-programs/modern-manufacturing-initiative-manufacturing-collaboration.