Joint Media Release from Minister for Industry, Science and Technology, The Hon Karen Andrews MP and Senator The Hon Sarah Henderson
The Morrison Government is backing local companies in Bendigo to modernise how they do business as they grapple with the impact of the coronavirus.
The three successful companies will receive $1.2 million from the Manufacturing Modernisation Fund (MMF) for important manufacturing projects.
The three companies and grant amounts are as follows (see background below for project details):
- Vossloh Cogifer Australia Pty Ltd: $1 million
- Bendigo Woollen Mills Pty. Ltd.: $100,000
- Keech Castings Australia Pty Limited: $100,000
Senator Sarah Henderson 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 here in Bendigo,” Senator Henderson said.
“This investment will not only strengthen this businesses and create jobs, it will provide a much needed confidence boost for the whole region as we face this unprecedented pandemic.”
200 projects worth more than $215 million are being supported through the Manufacturing Modernisation Fund (MMF). 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 MMF 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 MMF 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’ Program, and the $40 million Innovative Manufacturing Cooperative Research Centre.
For more information on the Manufacturing Modernisation Fund visit www.business.gov.au/MMF
30 April 2020