The Andrews Labor Government has launched a $5 million grant program to help transition Victoria toward a high-tech manufacturing economy.
Minister for Industry Lily D’Ambrosio launched the Future Industries Fund Manufacturing Program at the Victorian Manufacturing Showcase 2015 in Dandenong, which featured 600 manufacturers from across the state.
There are around 20,000 manufacturing businesses in Victoria, employing over 250,000 people and contributing $27.5 billion to the state’s economy in 2014.
The Manufacturing Program is the first industry grant program under the Labor Government’s $200 million Future Industries Fund, which will support investment in six key sectors and drive Victoria’s economic growth.
These include medical technology and pharmaceuticals, new energy technology, food and fibre, transport, defence and construction technology, international education, and professional services.
Companies can apply for grants of up to $500,000 under the Manufacturing Program to invest in new manufacturing technologies and processes that will create new jobs, increase productivity and boost economic growth.
Quotes attributable to Minister for Industry Lily D’Ambrosio
“This fund will support Victorian manufacturers to invest in new technologies and processes, and help to transition Victoria toward a high-tech manufacturing economy.”
“We’re supporting Victorian businesses to become more innovative, create new products and reach new markets.”
“Grants from the Future Industries Fund will support our businesses to shift into areas that secure today’s jobs and create the high-skill jobs of tomorrow.”
Reviewed 19 August 2020