Applications are now open for Wide Bay manufacturers with shovel-ready projects to increase their productivity and grow jobs to apply for a Manufacturing Modernisation Fund (MMF) grant.
Federal Member for Wide Bay and Deputy Speaker of the House of Representatives Llew O’Brien said local businesses will be able to apply for between $100,000 and $1 million to invest in new technology, as the Morrison Government continues to support the post-COVID-19 economic recovery.
Mr O’Brien said the Government is “backing businesses to back themselves” and create local jobs.
“Manufacturing is the second-largest industry in Wide Bay, and the Morrison Government is backing our hard-working manufacturers because we know that if they prosper, our whole region prospers,” Mr O’Brien said.
“By supporting our Wide Bay manufacturers to become more competitive, we not only create more direct jobs, but jobs in businesses right along the supply chain – from our farmers to our truckies.”
Applications for Round Two of the MMF will be open until 21 January 2021, with a focus on projects that align with the National Manufacturing Priorities: Resources Technology & Critical Minerals Processing; Food & Beverage; Medical Products; Recycling & Clean Energy; Defence; and Space.
Minister for Industry, Science and Technology Karen Andrews said the MMF Round Two was a key element of the Government’s $1.5 billion Modern Manufacturing Strategy.
“The Morrison Government knows that manufacturing is central to our nation’s economic future and creating jobs for the recovery from COVID-19 and for future generations,” Minister Andrews said.
“In these uncertain times, we’re giving manufacturing businesses the confidence and certainty they need to invest in themselves to deliver new and innovative products and services.
“We want to deliver more products for Australians, and beyond that, we want to open up more opportunities for manufacturers to take on the world with their top quality products.
Round One of the MMF in April saw the Government invest $48.3 million into nearly 200 projects valued at more than $215 million. These projects are expected to create about 2,600 new jobs.
The Round One funding included a $100,000 grant for Noosa biotech start-up Provectus Algae, towards world-first technology to extract valuable compounds from algae for use in products including biologic treatments for infectious, inflammatory and cardiovascular diseases.
For more information on the MMF, including how to apply, visit business.gov.au/mmf.