Home Government Tech Policy Govt boosts advanced manufacturing with $30 million in funding

Govt boosts advanced manufacturing with $30 million in funding

Senator Michaelia Cash Senator Michaelia Cash

The federal government has released just shy of $30 million in funding to help 20 companies in South Australia and Victoria establish and expand advanced manufacturing activities.

Acting Minister for Industry, Innovation and Science, Senator Michaelia Cash, announced the first round of funding under the $47.5 million Advanced Manufacturing Growth Fund established by the government to support investment in advanced manufacturing projects in both states.

The funding will go to 15 companies from Victoria and five from South Australia, who are the first recipients of funding under the initiative and will share $29.96 million in financial assistance.

Senator Cash said the government was directly supporting regions affected by closures of automotive manufacturing plants, with 11 of the companies receiving grants located within the traditional automotive manufacturing corridors of each state.

The Advanced Manufacturing Growth Fund is part of the $100 million Advanced Manufacturing Fund, announced in the 2017-18 Budget, and builds on the Turnbull Government’s $155 million Growth Fund, established to help industry adjust to the winding down of car manufacturing in Victoria and South Australia.

“Supporting these businesses transition and expand into advanced manufacturing activities will boost innovation, skills and employment opportunities for Australians,” Senator Cash said.

“This injection of funds will help transition Australia’s manufacturing sector from traditional, heavy industrial processes to knowledge-based manufacturing of higher value products.”

She said approximately $15.3 million would be available for a further round of the funding programme to be opened later this year.

Some of the companies receiving grants are:

  • ATi Implants (South Australia) will receive $1,500,000 to establish a high tech additive manufacturing process to produce dental implants;
  • Codan (South Australia) will use $528,333 to implement a new Surface Mount Technology production line that will help improve productivity and quality of high value products in the local and global supply chains;
  • MiniFAB Victoria) will receive $1,297,000 for the company to upgrade its manufacturing facilities for the production of medical devices to be used for the emerging ‘organ on a chip’ technology; and
  • LeMond Composites (Victoria) will use $2.5 million, to support the commissioning of an industrial carbon fibre manufacturing facility.

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Peter Dinham

Peter Dinham is a co-founder of iTWire and a 35-year veteran journalist and corporate communications consultant. He has worked as a journalist in all forms of media – newspapers/magazines, radio, television, press agency and now, online – including with the Canberra Times, The Examiner (Tasmania), the ABC and AAP-Reuters. As a freelance journalist he also had articles published in Australian and overseas magazines. He worked in the corporate communications/public relations sector, in-house with an airline, and as a senior executive in Australia of the world’s largest communications consultancy, Burson-Marsteller. He also ran his own communications consultancy and was a co-founder in Australia of the global photographic agency, the Image Bank (now Getty Images).

 

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