Home > $50 million advanced manufacturing grants programme begins

$50 million advanced manufacturing grants programme begins

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Applications are now open for the new $50 million Manufacturing Transition Programme, aimed at businesses investing in higher-value manufacturing.

Opening yesterday and accepting applications until October 24, the first round of the federal programme offers grants between $1 million and $10 million, covering up to 25 per cent of a project’s cost over a two-year period.

“The Manufacturing Transition Programme is about moving firms away from low-tech commodity style production that may not be globally competitive, to advanced manufacturing where Australia’s specialised knowledge and skills give us an advantage,” said industry minister Ian Macfarlane in a statement yesterday.

To be eligible, a business must manufacture and be based in Australia, as well as registered for the GST and undertaking a project worth no less than $4 million.

The grants are administered by AusIndustry, and the transition programme will run for three years, said Macfarlane.

For more information, click here.

Image: http://growcobusiness.com/

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