Member for Swan Hill, Peter Walsh, today announced that the Victorian Government is implementing a new $24.8 million program to encourage manufacturers throughout the Swan Hill electorate to invest in new technology that will increase productivity and competitiveness.
Mr Walsh said the Investing in Manufacturing Technology (IMT) program would provide grants of up $250,000 to support Victorian manufacturers in adopting new technologies.
“The IMT program is a key part of the Victorian Government’s $58 million manufacturing industry assistance package, announced in the 2012-13 Budget,” he said.
“There are challenges in manufacturing including the high Australian dollar and the anticipated higher energy costs under the proposed carbon tax, but the Victorian Government is committed to supporting our State’s manufacturers.
“The IMT program is structured to ensure financial assistance to manufacturers is based on an increase in productivity, diversification of products or new lines or investment to enable companies to compete in new international markets.
“There is great resilience in the Victorian manufacturing sector and I was pleased to see the manufacturing jobs rose for the second consecutive quarter, according to the Australian Bureau of Statistics labour force data released on June 14.
“There are great examples in our region of successful manufacturing businesses and I have seen first-hand how these businesses continually meet and take on challenges.
“I encourage all manufacturing businesses, small and large to apply for these grants,” he said.
Applications for IMT Round One are open from 18 June to 20 July, with total funding of up to $3 million available in this round. Grants will be allocated on a competitive basis and will require a minimum co-contribution from the business of $3 for every $1 granted.
An outline of the program, key dates, application process, eligibility criteria, assessment process and reporting requirements can be found at www.business.vic.gov.au/imt or call Business Victoria on 13 22 15.
Thursday, June 28, 2012
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