$73.3 million investment in SA's next generation manufacturing
South Australian businesses will invest in the state's advanced manufacturing future, with $28.8 million of Government investment under the South Australian round of the Next Generation Manufacturing Investment Programme.
Complementary investment by each successful firm will take the total investment in new manufacturing capability and jobs for South Australia to more than $73.3 million.
Australian Minister for Industry and Science Ian Macfarlane and SA Minister for Manufacturing, Innovation and Automotive Transformation Kyam Maher today announced that 15 firms would benefit from the South Australian round of the Next Generation Manufacturing Investment Programme.
"This is a show of confidence in the future of Australian industry, and in the future of South Australian manufacturing in particular," Macfarlane said.
"This investment will allow these businesses to undertake capital projects that will help them build in size and scope, and most importantly assist them to focus on high value manufacturing.
"In turn, this will help attract private sector investment and allow them to move into new and growing markets.
"South Australia has a significant range of manufacturers that have traditionally been associated with the automotive industry supply chain.
"With the wind down of production at Holden, the Next Generation Manufacturing Investment Programme is a targeted and tailored investment to create new opportunities that will make use of the sophisticated skills base in the local manufacturing sector."
The Australian Government has been working with the South Australian Government and the community to deliver all elements of the $155 million Growth Fund for employees and businesses affected by the closure of automotive manufacturing in South Australia and Victoria.
"This investment is an important measure to stimulate economic activity, create jobs and increase business competitiveness and sustainability in South Australia," Maher said.
"The projects to be undertaken by the 15 successful applicants are great examples of new manufacturing opportunities in South Australia, as we move away from car making and other traditional forms of manufacturing.
"Our manufacturing sector must innovate and seek new opportunities and markets to underpin a strong state economy for the future."
Macfarlane said there had been a strong response from eligible businesses to the $60 million programme – the largest element of the Australian Government's $155 million Growth Fund for employees and businesses affected by the closure of automotive manufacturing operations in South Australia and Victoria.
The 15 businesses will receive grants ranging from over $500,000 to almost $5 million.
Successful applicants in the Victorian round will be announced soon.
The elements of the Growth Fund are:
- A $30 million Skills and Training Programme to help automotive workers to find new jobs before they are retrenched;
- A $15 million extension and modification to the Automotive Industry Structural Adjustment Programme to help automotive workers to find new jobs when they are retrenched;
- A $20 million Automotive Diversification Programme to help automotive supply chain firms capable of diversifying, to enter new markets;
- A $60 million Next Generation Manufacturing Investment Programme to accelerate private sector investment in high value non-automotive manufacturing sectors in Victoria and South Australia; and
- A $30 million Regional Infrastructure Programme to support investment in non-manufacturing opportunities in affected regions.
The Australian Government contributed $101 million to the Growth Fund, South Australia and Victoria have each contributed $12 million and Holden and Toyota have contributed $15 million each.
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