The Advanced Manufacturing Accelerating Growth Grants program will provide nearly $865,000 in funding to 12 companies, boosting Tasmania’s advanced manufacturing industry.
The Accelerating Growth Grants program aims to encourage advanced manufacturers to invest in new equipment, allowing them to enter new markets or expand current ones.
Definium Technologies, Currawong Engineering, Pivot Maritime, CBG Systems, and Jayben are among the successful applicants in the most recent investment round.
Sky Health Clinics, Norfolk Blinds, Aqua Clean Tasmania, and Race Fueled Investments are among the smaller or up-and-coming local businesses supported by the program.
Making the announcement, Minister for Advanced Manufacturing and Defence Industries Madeleine Ogilvie, said the successful projects will assist in accelerating the creation of more than 40 new manufacturing jobs in Tasmania.
“It is anticipated that this funding will encourage some $2.2 million in investment by successful applicants, an immediate return of almost $2.50 for every dollar put in,” the Minister concluded.
