Manufacturing

Australian Government backs manufacturers for economic recovery

Eliza Sayon Dec 9, 2021

< 1 min read

In their efforts to ensure that the country’s economy will recover from the global pandemic, the Australian Government is backing more manufacturers to grow and create new jobs with $280 million in funding on offer.

The funding is available through Round 2 of the Integration and Translation Streams of the $1.3 billion Modern Manufacturing Initiative (MMI).

Under this, applications are expected to open for businesses in the six National Manufacturing Priority Areas: Space, Medical Products, Resources Technology and Critical Minerals Processing, Food and Beverage, Recycling and Clean Energy, and Defence.

Minister for Industry, Energy and Emissions Reduction Angus Taylor said the funding will help manufacturers break into new markets and translate great ideas into commercial outcomes.

“Our manufacturing sector is going from strength to strength, with more than a million Australians employed in manufacturing and strong confidence in the future of the sector,” Minister Taylor said.

“We know our manufacturers will lead the charge when it comes to our economic recovery from the pandemic – and that’s why we’re investing in them to help secure our future.”

With the Modern Manufacturing Initiative already investing in projects that will support businesses to scale up, introduce new products to market, strengthen supply chains and create more local jobs, the added funding will greatly help businesses in turning innovative research and ideas into reality

The Modern Manufacturing Initiative is the centrepiece of the Australian Government’s $1.5 billion Modern Manufacturing Strategy.

The Modern Manufacturing Strategy was designed to position Australia as a globally recognised, high-quality and sustainable manufacturing nation in light of the recent global events.

Applications will open in two tranches, starting 13 December 2021.

Source: Minister for Industry, Energy and Emissions Reduction Media Release

Eliza Sayon

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Eliza is a content producer and editor at Public Spectrum. She is an experienced writer on topics related to the government and to the public, as well as stories that uplift and improve the community.