$100 million package to advanced manufacturing
Funding to drive business growth globally...
Australia’s manufacturing sector will receive a significant boost to create jobs, grow businesses, improve productivity and be globally competitive with a $100 million funding package.
What are the funding measures?
The funding measures will encourage further research, investment in emerging engineers and scientists, provide facilities to test new products and develop business capability to ensure advanced manufacturing businesses are world‑leaders in competitive global markets.
The numerous funding measures will commence from 1 July 2017, they include:
- $47.5 million to the Advanced Manufacturing Growth Fund to help industry adjust to the wind down of car manufacturing in South Australia and Victoria.
- $4 million for the Advanced Manufacturing Growth Centre to support small scale and pilot research projects in advanced manufacturing.
- $20 million under the Cooperative Research Centre – Projects initiative for larger scale advanced manufacturing research projects.
- $10 million to establish Innovation Labs in South Australia and Victoria to serve industry in a variety of roles including test centre facilities and business capability development.
- $5 million to maintain engineering excellence by investing in student research at universities, technology institutions and in industry.
- $13.5 million tariff reduction on imported vehicle prototypes and components used by Australian motor vehicle design and engineering services.
What to do:
- Go to the Department of Industry, Innovation and Science website to learn more about the funding measures.