The Victorian government will establish two new funds to issue more than $35 million in grants and other funding, including one that will assist local firms to access the federal government’s $15 billion National Reconstruction Fund.
The 2023 Victorian Budget, unveiled by Treasurer Tim Pallas on Tuesday afternoon, includes $36.2 million for the two funds, as well as more than $30 million in other industry support, including $10 million for games developers.
New investments include $21.2 million over the next two years to establish a Manufacturing and Industry Sovereignty Fund to “support the development, expansion and retention of strategic sovereign manufacturing capability in Victoria”.
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