Australian manufacturers to share in $800 million funding

Australian manufacturers to share in $800 million funding

Australian manufacturing companies can now apply for a share of $800 million in funding for major projects under the 'Collaboration Stream' of the Federal Government's Modern Manufacturing Initiative.

Eligible companies can apply for between $20 million and $200 million, with the funds to cover up to 33 per cent of project expenditure.

The Federal Government is looking to invest in six manufacturing priority fields including: medical products; clean energy and recycling; food and beverage; defence; space and resource technology and critical minerals processing. 

"As a Government we plan to harness Australia's manufacturing capability to drive job creation and spur private investment, especially as we chart our economic recovery from COVID-19 and build our future resilience," Minister for Industry, Science and Technology Christian Porter said.

"Through the Collaboration Stream, we are determined to co-invest in industry-led proposals that will transform our National Manufacturing Priority areas, by encouraging manufacturers to move up the value chain to higher value, higher margin activities, including drawing on our world class research. 

"This is at the heart of our $1.5 billion Modern Manufacturing Strategy which is all designed to support Australian manufacturers to scale-up, build resilience, become more competitive and create the jobs we need not only now but for generations to come."

Applications are open until 9 September. More details and the guidelines are available at www.business.gov.au/mmic.

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