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Federal Government teams up with SA companies to invest $73.3m in SA manufacturing industry

August 4, 2015 • Grants

Up to 430 jobs are expected to be created in South Australia’s manufacturing industry with the Federal Government announcing a major investment to boost the troubled sector.

Growth-Fund

Image credit: Business.gov.au

Australian Minister for Industry and Science Ian Macfarlane and SA Minister for Manufacturing and Innovation and Automotive Transformation Kyam Maher announced that 15 firms would benefit from the South Australian round of the Next Generation Manufacturing Investment Programme.

“This is a show of confidence in the future of Australian industry, and in the future of South Australian manufacturing in particular. This investment will allow these businesses to undertake capital projects that will help them build in size and scope, and most importantly assist them to focus on high value manufacturing,” Mr Macfarlane said.

“In turn, this will help attract private sector investment and allow them to move into new and growing markets. South Australia has a significant range of manufacturers that have traditionally been associated with the automotive industry supply chain. With the wind down of production at Holden, the Next Generation Manufacturing Investment Programme is a targeted and tailored investment to create new opportunities that will make use of the sophisticated skills base in the local manufacturing sector.”

The Federal Government will invest $28.8 million. The 15 local businesses will receive grants of between $500,000 and almost $3 million.

“This investment is an important measure to stimulate economic activity, create jobs and increase business competitiveness and sustainability in South Australia,” Mr Maher said.

“The projects to be undertaken by the 15 successful applicants are great examples of new manufacturing opportunities in South Australia, as we move away from car making and other traditional forms of manufacturing. Our manufacturing sector must innovate and seek new opportunities and markets to underpin a strong state economy for the future.”

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