Nine small to medium-sized manufacturers have secured $1.9 million in grants in the latest round of the Made in Victoria manufacturing growth program.
The recipient businesses operate in a diverse range of sectors from food and beverage manufacturing to construction, packaging, and transport.
While each dollar of the up to $250,000 grants needed to be matched by at least $2 from the recipient, the co-funded projects are collectively worth more than $9.5 million.
The Victorian program is designed to help SMEs implement new manufacturing technologies and expand their operations so they can compete in global supply chains.
Essential Flavours and Ingredients will use its funding to expand its liquid manufacturing capabilities, increase employment by 40 per cent, and increase exports to the Asia Pacific.
Tim Nielsen, the chief executive of the flavouring manufacturer, said the grant will “allow us to combine state of the art equipment and technology enhancing our production capabilities and enabling us to innovate further in the industry”.
Industry and Jobs minister Natalie Hutchins said the grants will “increase production, drive innovation, reach new markets and boost local jobs”. The state government estimates the funded projects will support 80 jobs.
A full list of recipients can be found here.
In the first round of the program, 14 businesses shared $3.2 million in funding which was estimated to support just under 140 jobs.
The Victorian government’s support for the $33.5 billion manufacturing sector is underpinned by the Made in Victoria 2030: Manufacturing Statement, which outlines five priority sectors that are aligned with the federal government’s focus.
Under this initiative the state government has also established a $20 million Manufacturing and Industry Sovereignty Fund to complement the Commonwealth’s National Reconstruction Fund and a $15 million Industry R&D Infrastructure Fund to complement the research and development tax incentive.
The first round of the Industry R&D Infrastructure Fund was announced at the end of April, backing the likes of 3D printing company SPEE3D and quantum computing company Quantum Brilliance.
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