Funding to boost manufacturing in Victoria

Invest in Australia has reported that the State Government of Victoria has allocated AU$764,000 to three manufacturers in Melbourne’s eastern suburbs to create new jobs and grow the economy. The funding comes from the Future Industries Manufacturing Program, which supports high-growth industries to grow and create jobs.

The grants include $298,000 for Kilsyth-based Radio Frequency Systems to invest in new equipment, create four new full-time jobs and boost its exports by $10 million; $266,000 for IDT Australia Limited to invest in new laboratory equipment, create four new full-time jobs, transition six staff members and boost its exports by $64 million; and $200,000 for Crusader Hose in Bayswater to construct and install an annealing plant, create five new jobs and transition seven staff members.

Under the Future Industries Manufacturing Program, companies can apply for grants of up to $500,000 to invest in new manufacturing technologies and processes to create jobs and help transition the Victorian economy towards advanced manufacturing.

The federal government has also announced more than $43.5 million in grants to 24 Victorian manufacturing companies to stimulate jobs and growth, as part of the Next Generation Manufacturing Investment Programme.

Key recipients of the program were Marand Precision Engineering Pty Ltd, with $5 million to expand its capacity to manufacture and assemble vertical tails for the F35 Joint Strike Fighter F35; Walkinshaw Automotive Group Pty Ltd, with $5 million to establish facilities in Springvale to modify globally made equipment to local market standards and to manage the supply chain for manufacture of component parts; Intervet Australia Pty Limited, with $2.5 million to expand its veterinary vaccine manufacturing facility in Bendigo; and Xlam Australia Pty Ltd, with $2.5 million to establish Australia’s first cross-laminated timber manufacturing facility at Wodonga, Victoria, producing an engineered wood product capable of replacing concrete in building structures.