$254 million investment in high value manufacturing
The Commonwealth Government has announced the projects to gain funding under its $50 million Manufacturing Transition Programme.
The Commonwealth contribution to the Programme is accompanied by over $200 million in investment by Australian manufacturers.
Nineteen businesses will receive between $1 million and $5 million to improve their competitiveness by investing in new capital equipment and plant improvements.
The Programme seeks to encourage Australian manufacturers to invest in more sophisticated and knowledge-intensive manufacturing. This will create high value jobs in areas where the greatest economic opportunities exist, according to Minister for Industry and Science, Ian Macfarlane, and Prime Minister Tony Abbott.
The $50 million Manufacturing Transition Programme fulfils an election commitment to ensure a secure future for manufacturing in Australia by focusing on areas of competitive strength.
It provides the structural and strategic support necessary to give manufacturers the confidence to back themselves and carve their place in a changing global market.
This programme complements other Commonwealth Government initiatives – such as the establishment of Industry Growth Centres and the abolition of the carbon and mining taxes – to provide the right policy settings for investment and to improve the competitiveness of Australian manufacturing.
Successful projects were awarded through a competitive, merit based process, and based on advice from an expert technical committee.
Information on the Manufacturing Transition Programme can be found at business.gov.au/MTP.
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