Cashcor Engineering, a Cairns-based company, is set to deliver a jobs boost to Far North Queensland and significantly bolster local manufacturing supply chains through funding from the Queensland Government’s Industry Partnership Program (IPP).
The funding will enable the company to spearhead a $2.9 million project that will include the refurbishment of two metal manufacturing and fabrication workshops equipped with new laser-cutting equipment.
New specialist metal fabrication equipment will enhance product precision and accelerate the delivery to customers with new staff offices and amenities also being built on-site.
Slated to be completed by the end of 2024, the project will create 33 jobs and enable the company to grow its supply chains in defence and marine industries.
Established more than 40 years ago, Cashcor Engineering delivers niche metal manufacturing and engineering services to boost local content in industries and supply chains in Far North Queensland and across into the Northern Territory.
“The IPP Grant will provide a significant boost for Cashcor Engineering and our manufacturing capabilities. It will enable us to transition into a much-needed larger premises, which is located near the Cairns Marine Precinct Common User Facility site,” said Brett Cahill, managing director of Elite Engineering Services, doing business as Cashcor Engineering.
“Cashcor Engineering has serviced the North Queensland market for over 40 years in the areas of defence, mining, marine and general engineering. The IPP grant will now allow us to purchase new state-of-the-art manufacturing machinery to help service these growing markets,” Cahill added.
Minister for State Development and Infrastructure Grace Grace said Caschor Engineering’s expansion marks a win for the local economy and the people of Far North Queensland.
“Companies like this one will provide the vital services to grow and strengthen industry supply chains, including in our growing marine and defence industries. Importantly, it means more good, local jobs for Far North Queenslanders,” Minister Grace said.
The Queensland government’s Industry Partnership Program was established to foster the state’s priority industries, strengthen local supply chains, encourage collaboration between government and industry, and leverage private sector investment.
The $415.5 million program currently supports local projects that create economic opportunities and local jobs, address industry supply chain gaps, and build strengths across industries.