THIRTEEN Victorian firms will share in $16 million of Commonwealth grants to boost their high value manufacturing capability. Source: Herald Sun
The $90 million Next Generation Manufacturing Investment fund — created in response to the death of the Victorian and South Australian car industries — aim to helps businesses which are undertaking new projects.
Seablite, based at Tyabb will gain $1.8 million on top of its own $10 million investment to manufacture specialist marine navigation aids and aviation ground lighting systems.
Xlam Australia, in Wodonga, will gain $2 million for its $18 million project to establish Australia’s first cross laminated timber manufacturing facility, producing an engineered wood product capable of replacing concrete in building structures.
The funding will complement massive private investment of $104.5 million from the firms resulting in a $136 million injection to the manufacturing sector across both states, creating over 500 jobs.
Industry and Innovation Minister Greg Hunt, who will announce the grants in Geelong today, said funded projects will boost advanced manufacturing capabilities across several industries including the pharmaceutical and medical device sectors, precision engineering and tooling, industrial textiles and engineered timber building products. “These grants will support businesses to invest in their future by developing innovative new processes and cutting-edge equipment,” he said.