$20 million to help Victorian Manufacturers Modernise

The Morrison Government is backing local companies in Victoria to modernise how they do business, as they grapple with the impact of the coronavirus pandemic.

74 Victorian companies will receive a share of $20 million from the Manufacturing Modernisation Fund.

Senator David Van said the support came at an incredibly important time for the local manufacturing sector.

“The Morrison Government is committed to Australian manufacturing and supporting small and medium sized businesses,” Senator Van said.

“The Prime Minister has consistently said that we will put business at the centre of the pandemic recovery.”

“This investment will not only strengthen this business and create jobs, it will also provide a much needed confidence boost for the whole state as we face the worst pandemic in 100 years.”

200 co-funded projects across Australia worth more than $215 million dollars are being supported through the Fund. The Federal Government is contributing $48.3 million.

Minister for Industry, Science and Technology Karen Andrews said the projects are expected to create 2,600 Australian jobs and were about preparing Australian manufacturing beyond COVID‑19 and the challenges of today.

“We established the Fund before the coronavirus pandemic to help small and medium sized manufacturers invest in capital equipment and new technologies to transform and upgrade their manufacturing operations,” Minister Andrews said.

“Now as we face the coronavirus pandemic and look to come out the other side stronger, this investment will be more critical than ever.

“I am determined to further strengthen Australian manufacturing and the current pandemic gives us the opportunity as a nation to reassess and commit to the values of Australian-made goods.”

The Fund builds on other Federal Government investments in manufacturing growth and competitiveness, including the $100 million Advanced Manufacturing Fund, the Advanced Manufacturing Growth Centre, the Entrepreneurs’ Programme, and the $40 million Innovative Manufacturing Cooperative Research Centre.

For more information on the Manufacturing Modernisation Fund visit www.business.gov.au/MMF.