- $320 million in new Commonwealth funding announced
Are you making the most of the assistance available to support your growth?
- Are you looking at ways to become more competitive and sustainable?
- Are you investing in step-change capital equipment?
- Are you undertaking strategic project initiatives to grow your manufacturing business?
Australian manufacturers who embrace the current market challenges and invest in new opportunities can secure a sustainable and competitive future. Global market opportunities, new advanced technologies, and changing customer requirements, all present growth opportunities for manufacturers willing to innovate and invest in strategic initiatives to grow their business.
$100m to boost advanced manufacturing
- Are you an advanced manufacturer based in Victoria or South Australia?
- Are you considering a capital upgrade to be more competitive by using innovative processes and equipment?
The new $100m package of measures is designed to boost innovation, skills, and employment in advanced manufacturing. The measures include a $47.5m “Advanced Manufacturing Growth Fund” that provides up to one-third of project costs to establish and expand high-value manufacturing.
Funding is available on a competitive basis. The first round of funding is expected to open early in the 2018 financial year.
$220m Regional Jobs and Investment Package
- Are you considering investment in regional Australia?
- Will your project drive economic growth and create jobs?
This fund is designed to stimulate economic growth in 10 regions:
- QLD- Bowen Basin, Tropical North, Wide Bay Burnett
- NSW- North Coast, South Coast
- SA- Upper Spencer Gulf
- VIC- Goulburn Valley, Geelong, Latrobe Valley
- TAS- Regional Tasmania
The new regional package provides federal grants to support business to build scale and capability to be competitive in new or growing markets that create sustainable employment.
Funding is available on a competitive basis. Applications for six regions (three Queensland, two New South Wales, and Geelong) close 31 July 2017. Applications for other regions not yet open.
The Australian state and federal governments offer a range of government programs, grants, and schemes to promote the competitiveness, sustainability, and profitability of manufacturing businesses. If you are planning to invest in your business and wondering if the government might co-fund that activity, these and other grant programs may warrant discussion.
Grant Thornton helps manufacturers look beyond immediate challenges and adapt their business to take advantage of new opportunities in the market. We provide both financial and operational services to help you achieve long-term, profitable growth.