Twenty companies will share in almost $30 million in funding to establish and expand advanced manufacturing activities in South Australia and Victoria.
Acting Minister for Industry, Innovation and Science, Senator the Hon Michaelia Cash, announced the first round of funding under the $47.5 million Advanced Manufacturing Growth Fund, which is supporting investment in advanced manufacturing projects in both states.
Twenty companies, 15 from Victoria and five from South Australia, are the first recipients of funding under the initiative and will share in $29.96 million in financial assistance.
The Government is directly supporting regions affected by closures of automotive manufacturing plants, with eleven of the companies receiving grants located within the traditional automotive manufacturing corridors of each state.
The Advanced Manufacturing Growth Fund is part of the $100 million Advanced Manufacturing Fund, announced in the 2017-18 Budget. This builds on the Turnbull Government’s $155 million Growth Fund, established to help industry adjust to the wind-down of car manufacturing in Victoria and South Australia.
“Supporting these businesses transition and expand into advanced manufacturing activities will boost innovation, skills and employment opportunities for Australians,” Minister Cash said.
“This injection of funds will help transition Australia’s manufacturing sector from traditional, heavy industrial processes to knowledge based manufacturing of higher value products.”
Examples of some of the successful funding recipients include:
- ATi Implants Pty Ltd (South Australia) will receive $1,500,000 to establish a high tech additive manufacturing process to produce dental implants.
- Codan Limited (South Australia) will use $528,333 to implement a new Surface Mount Technology production line that will help improve productivity and quality of high value products in the local and global supply chains.
- MiniFAB Pty Ltd (Victoria) will receive $1,297,000 for the company to upgrade its manufacturing facilities for the production of medical devices to be used for the emerging ‘organ on a chip’ technology.
- LeMond Composites Pty Ltd (Victoria) will use $2.5 million, to support the commissioning of an industrial carbon fibre manufacturing facility.
Approximately $15.3 million will be available for a further round of the program to be opened later this year.
For details, visit https://www.business.gov.au/amgf