$254m investment to encourage high value manufacturing in Australia


The Commonwealth Government has announced the projects to gain funding under its $50 million Manufacturing Transition Programme.

Image credit: www.FreeDigitalPhotos.net user: Stuart Miles
Image credit: www.FreeDigitalPhotos.net
user: Stuart Miles

According to the joint press release by the Minister for Industry and Science, Ian Macfarlane, and Prime Minister Abbott, nineteen businesses will receive between $1 million and $5 million to improve their competitiveness by investing in new capital equipment and plant improvements.

The projects were awarded through a competitive, merit based process, and based on advice from an expert technical committee.

Mr Macfarlane said Australian manufacturers will invest over $200 million on top of the Commonwealth contribution to the Programme, which was designed to provide the structural and strategic support necessary to give manufacturers the confidence to back themselves and carve their place in a changing global market.

“The Programme seeks to encourage Australian manufacturers to invest in more sophisticated and knowledge-intensive manufacturing. This will create high value jobs in areas where the greatest economic opportunities exist,” reads the joint press release.

“The $50 million Manufacturing Transition Programme fulfils an election commitment to ensure a secure future for manufacturing in Australia by focusing on areas of competitive strength.”

The Manufacturing Transition Programme complements other Commonwealth Government initiatives, such as the establishment of Industry Growth Centres and the abolition of the carbon and mining taxes.

The Programme was set up to provide the right policy settings for investment and to improve the competitiveness and sustainability of Australian manufacturing.