Press Releases

Victorian manufacturing to share in $24.8 million

* * - Friday, July 06, 2012
Deputy Premier and Member for Gippsland South Peter Ryan today announced that the Victorian Coalition Government was encouraging manufacturers in the Gippsland area to invest in new technology that would increase productivity and competitiveness, under a new $24.8 million program.

Mr Ryan 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,” Mr Ryan said.

“The Victorian Coalition Government recognises there are challenges in manufacturing including the high Australian dollar and the higher energy costs under the carbon tax, but is committed to ensuring any financial assistance to manufacturers is based on an increase in productivity, diversification of products or new lines or investments that will 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 14 June.

“Gippsland has a number of great examples of manufacturing across a number of sectors, and I have seen first-hand local businesses continually meeting various challenges.

“I encourage all Gippsland manufacturing businesses, small and large to apply for these grants.”

Mr Ryan said applications for IMT Round One were open until 20 July 2012, with total funding of up to $3 million available in this round.

“Grants would be allocated on a competitive basis and would require a minimum co-contribution from the business of $3 for every $1 granted,” Mr Ryan said.

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 by calling Business Victoria on 13 22 15.

Media contact: Ben Bulmer 0437 108 870

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