The Tasmanian Government has unveiled a new funding initiative aimed at bolstering the state’s advanced manufacturing sector, with grants of up to $20,000 now available to support local businesses in enhancing productivity and growth.
Premier and Minister for Trade and Major Investment Jeremy Rockliff announced the launch of the Advanced Manufacturing Productivity Grant program, an integral component of Tasmania’s Advanced Manufacturing Action Plan.
The $450,000 grant program is a key measure under the state’s 2030 Strong Plan for Tasmania’s Future, as revealed in a media release.
“As part of our 2030 Strong Plan for Tasmania’s Future, we are growing the State’s advanced manufacturing industry through strategic investments like the $450,000 Advanced Manufacturing Productivity Grant program,” Premier Rockliff said.
The grant program offers individual grants between $1,500 and $20,000 to eligible businesses with a turnover between $500,000 and $55 million.
Businesses are allowed to submit multiple applications for different activities within a financial year, with an annual grant cap of $40,000 per business.
Premier Rockliff emphasized manufacturing’s crucial role in Tasmania’s economy.
“Manufacturing is Tasmania’s largest export industry and the sixth largest industry overall, making it a significant part of our economy and one we are right behind,” Premier Rockliff said.
Since 2021, the Tasmanian Government has invested nearly $5 million into the sector through its advanced manufacturing grants, benefiting 121 businesses.
The new program seeks to build on this momentum, driving further advancements in productivity and performance across the sector.
The Advanced Manufacturing Productivity Grant program is open for applications, with further details and guidelines available at www.stategrowth.tas.gov.au.
