$1.5b package to help 326 Flynn manufacturing businesses
A NEW era in Australian manufacturing is being launched with the federal government’s $1.5 billion Modern Manufacturing Strategy set to potentially assist 326 local businesses and more than 5400 employees.
The strategy is part of the JobMaker Plan, Federal Member for Flynn Ken O’Dowd said, to rebuild the economy, create jobs in Flynn and recover from the COVID-19 recession.
The strategy aims to make businesses more competitive, resilient and able to scale-up to take on the world.
Mr O’Dowd said the government was charting a course to ensure manufacturers right across the country could seize the opportunities to grow into new and emerging local and global markets.
“Our Modern Manufacturing Strategy is exciting news for the 326 local manufacturing businesses and the 5,461 locals they employ,” he said.
“Importantly, it will create new jobs in Flynn both now and into the future.
“Manufacturers are central to our economic recovery and they have capabilities that underpin so many other industries and support businesses in Flynn right along the supply chain.
“As a government, we’re determined to play to our strengths and ensure we are strategically investing in areas where we have an edge.”
The centrepiece of the strategy is the $1.3 billion Modern Manufacturing Initiative (MMI), which will see the government strategically invest in projects that help manufacturers to scale up and create jobs.
The MMI will support projects within six national manufacturing priorities;
- Resources technology and critical minerals processing
- Food and beverage
- Medical products
- Recycling and clean energy
Industry will be engaged to help develop tailored road maps for each of the priority sectors.
Mr O’Dowd said part of the strategy would also address the competitiveness of individual manufacturers in our priority sectors, with a $52.8 million expansion of the manufacturing modernisation fund.
“At the last election we announced the manufacturing modernisation fund, which has delivered support for 200 projects across the nation,” he said.
“I’m very pleased we are now expanding it to help more local businesses boost their production.
“There’s been a real groundswell of support for Australian made recently, because we all know buying Australian made supports local jobs.
“Our plan to scale up will mean more Australian made products on the shelves and more jobs in our local community.”
Supply chain issues and opportunities have also been highlighted by the COVID-19 crisis, Mr O’Dowd said.
“A $107.2 million supply chain resilience initiative will support projects that address an identified supply chain vulnerability,” he said.
Some grants open before the end of 2020.
Interested businesses are urged to visit the government industry website or contact Mr O’Dowd’s office on 1300 131 690 for grant application details.