AusIndustry, with the support of Bundaberg Regional Council, is holding an information session on the Federal Government’s Modern Manufacturing Strategy released as part of its 2020-21 budget.
The information session will be held at the Bundaberg Multiplex on the 30th November 10am to 11am. Additionally the information session will cover information directly related to how businesses can apply for the Manufacturing Modernisation Fund round two.
Manufacturing is key to almost every supply chain and adds value across all sectors including that of Bundaberg. Bundaberg has a strong history of manufacturing in the region. The sector contributed $348 million to the local economy in 2018/19 and employs 3,386 persons.
The Strategy has been developed to help Australian manufacturers to:
- scale-up
- improve competitiveness
- build more resilient supply chains
The strategy is a part of the Government’s JobMaker plan. As part of the strategy, the Australian Government is committing to $52.8 million to the Manufacturing Modernisation Fund (MMF) program. This is the second round of this program. The program will look to support approximately 150 firms that align with the National Manufacturing Priorities. This program will include the Manufacturing Modernisation Fund round two.
The MMF round two aims to address barriers to growth and innovation. MMF round two will look to:
- co-fund capital investment technology upgrades that help transform businesses
- help create and maintain a highly skilled workforce through jobs growth and upskilling
The program will offer:
- large-scale grants of $100,000 to $1 million on a 3-to-1 funding basis
- support for transformative investments in technologies and processes
MMF round two will open before the end of 2020. To be eligible for grants, businesses will need to show:
- expected job growth
- upskilling of their existing employees
- alignment with the National Manufacturing Priorities
