The Australian Federal Government will pump almost $1.5 billion into Australia’s manufacturing sector to help Australian manufacturers grow and create economic opportunities, in the wake of COVID-19.
Under the manufacturing strategy, $107 million will be dedicated to strengthening supply lines for essential goods. That money will prioritise medicines and medical products, with the goal of boosting Australia’s ability to provide critical supplies for itself during surges in demand.
A separate $1.3 billion will be spent over four years, starting in the first half of 2021, to help manufacturers upscale their businesses, with additional focus on turning concepts into finished products, and integrating into global supply chains. The Advanced Manufacturing Growth Centre (AMGC) in its Sector Competitiveness Plan identifies key strategic priorities of a successful manufacturing sector:
- Advanced Knowledge: including high R&D investment and STEM skill intensity
- Advanced Processes: including using state-of-the-art technology and managing energy use
- Advanced Business Model: including offering high value niche solutions, servitisation models and export competitiveness.
The money will be distributed to businesses willing to co-invest with the Government in six priority areas:
- Food and beverages
- Recycling and clean energy
- Medical products
- Defence
- Space
- Resources technology and critical minerals
Many of Wiley’s clientele across these sectors are ideally positioned to capitalise on this federal government investment to drive business growth into the future. Wiley have significant experience in the areas of food and beverage and medicinal product manufacturing, recycling and clean energy, defence and space and we are looking forward to assisting our clients to win these grants and make a difference in their industry.
See more information regarding the Manufacturing Modernisation Fund below
Get in contact with your Wiley contact today to get your grant project started.
