The Tasmanian Government has committed $3 million through its Accelerating Growth Grant Program to support local advanced manufacturers to innovate, expand and create new jobs.
The grants program – which includes four funding rounds over two years – aims to enable Tasmanian manufacturers to become more competitive, resilient, and better able to compete in global markets.
Round one opened on 2 August 2021. After a rigorous assessment process, eight Tasmanian companies have been successful in their applications:
- Marinova – $100,000 – to assist with an expansion of the fucoidan extraction facility;
- Island Block and Paving Holdings – $100,000 – to assist with manufacturing expansion;
- Mitchell Plastic Welding – $ 82,278 – assistance with equipment supporting a new market expansion opportunity;
- Lightning Protection International – $100,000 – to assist with the purchase of high productivity equipment;
- Westhaven Dairy – $85,618 – to assist with equipment to reduce production bottlenecks;
- Lenah Game Meats – $50,529 –to support production expansion;
- Aerial Inspections – $92,293 – funding to purchase equipment that will enable new manufacturing opportunities; and
- FH Management – $96,994 – to assist with the purchase of equipment to enhance automation processes.
Tasmania’s Minister for Advanced Manufacturing and Defence Industries Jeremy Rockliff said Round One of the $3 million Accelerating Growth Grant Program could result in a potential investment of $5.3 million into the state’s economy, generating 57 new manufacturing jobs in the process.
“Recipients of the grant will use the funds to invest in new equipment that improves production processes and aids expansion, and as previous programs have demonstrated, will deliver greater overall economic benefits for regional Tasmania,” the Minister said.
“Manufacturing is the fifth-largest industry in Tasmania generating turnover of more than $7 billion a year and employing 18,000 people, and the Tasmanian Liberal Government has a strong record of backing in these critical industry sectors, and we will continue to support their future growth to be world leaders in manufacturing excellence”
Round Two of the Accelerating Growth Grant Program opens on Monday, 31 January 2022.
