Over the next three years the $60 million Manufacturing and Industry Development Fund will help to build Victoria’s sovereign manufacturing capability by providing grant support to Victorian businesses in key growth sectors across the state.
The Fund will support the creation of around 1000 new jobs in its first year, driving economic recovery and ensuring Victorian industry remains sustainable and can continue to thrive into the future.
The Business Competitiveness Program of the Manufacturing and Industry Development Fund is now open for applications.
BCP will assist small and medium manufacturers with an existing presence in Victoria to expand their manufacturing operations and implement new manufacturing technologies and processes. The program aims to create jobs, increase industry competitiveness, and help strengthen local supply chains in traditional and emerging manufacturing sectors where Victoria has competitive advantages.
Grants of up to 33 per cent of eligible project expenditure, up to a maximum grant amount of $500,000, will be allocated on a competitive basis.
Applications can be made now via www.business.vic.gov.au/bcp, and close at 11.59pm on 20 June 2021.
A second program will be launched under the Manufacturing and Industry Development Fund in the coming months.