Further government funding announced for manufacturing
The federal government has announced a further $280 million in funding on offer through Round 2 of the Integration and Translation Streams of the $1.3 billion Modern Manufacturing Initiative (MMI).
Applications for funding for food and beverage projects will open on 17 December. The food and beverage sector is one of six named as national manufacturing priorities, with the others being resources technology and critical minerals processing; medical products, recycling and clean energy; defence; and space.
Under the MMI, up to 50% of a project’s total cost can be funded by the government and the grant value can range from $1 million up to $20 million. $33 million was previously granted to the food and beverage sector during the first round of funding.
“Our manufacturing sector is going from strength to strength, with more than a million Australians employed in manufacturing and strong confidence in the future of the sector,” said Minister for Industry, Energy and Emissions Reduction Angus Taylor.
“We know our manufacturers will lead the charge when it comes to our economic recovery from the pandemic — and that’s why we’re investing in them to help secure our future.
“Our Modern Manufacturing Initiative is already investing in phenomenal projects that will support businesses to scale up, introduce new products to market, strengthen our supply chains and create more local jobs.
“This matched funding will help businesses turn innovative research and ideas into reality, as well as unlocking new opportunities and investment both here at home and for overseas export.”
Applications will open in two tranches, starting 13 December 2021 and closing 14 January 2022. To find out more about funding for food and beverage projects, which opens 17 December, visit this link for the translation stream and this link for the integration stream.
For more information, visit https://business.gov.au/news/modern-manufacturing-initiative-round-2.
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