Made in Victoria – Manufacturing Growth Program - Round 2
The Victorian Government has announced the launch of the Made in Victoria – Manufacturing Growth Program - Round 2, a grant program that supports small and medium-sized manufacturers in the state up to $250,000 in funding. The program aims to introduce new technologies, expand operations, improve productivity, and enhance sovereign manufacturing.
Through the program, eligible businesses can receive funding to support the purchase and commissioning of capital equipment and associated project expenditure related to manufacturing product and process improvements, prototyping, evaluation and testing of new products and processes, and supply chain capability development. This funding will be recorded as fixed assets in the applicant’s accounts.
The program is part of the Victorian Government's ongoing efforts to support local manufacturing and enhance the state's competitiveness in the global market. The grant will help businesses to access the latest technologies and equipment, which will improve their productivity, reduce costs, and enhance their overall manufacturing capability.
Recipients of Round 1 of the program were announced in September, with 14 Victorian manufacturers supported and 138 new jobs created. Underpinned by the Made in Victoria 2030: Manufacturing Statement, the Victorian Government is supporting local manufacturers to expand operations and drive investment.
Small and medium sized manufacturers in Victoria are encouraged to apply for the grant to support their growth and development. The program is open to businesses across a range of sectors, including food and fibre, medical technologies and pharmaceuticals, transport, defence and construction.
Grants of between $50,000 to $250,000 are available. All grants must be matched by a minimum cash co-contribution of $2 for every $1 granted.
Closing Date: 5pm (AEDT) Tuesday 19 December 2023.
The grants available will support businesses to improve productivity and competitiveness in local and global supply chains, create new jobs and upskill and reskill workers.
What are the benefits for businesses?
Grants can be used to purchase new equipment, improve existing products and processes, test new products and processes and develop supply chain capability.
Applicants must meet the following criteria to be eligible for assistance under the program:
be an eligible legal entity ; and
hold an Australian Business Number (ABN); and
be an employing business registered for WorkCover insurance with WorkSafe Victoria; and
agree to meet any co-contribution requirements with eligible cash expenditure; and
be currently engaged in manufacturing or the manufacturing supply chain or demonstrate a genuine commercial connection to the manufacturing supply chain in Victoria; and
employ at least 20 FTE (full-time equivalent) staff or have an annual turnover of greater than $1.5 million (preference will be given to applicants that have less than 200 employees and turnover of less than $100 million) attest that they:
agree to conduct the proposed activities in Victoria; and
have met all industrial relations obligations as an employer in accordance with the National Employment Standards; and
will participate in future program evaluation activity; and
will provide financial reports as defined in section 5.5 of these guidelines to enable the Department of Jobs, Skills, Industry and Regions (the department) to conduct a Financial Risk Assessment (FRA).
will comply with the requirements of the Fair Jobs Code if applicable
Companies that employ fewer than 20 FTE may be considered for funding if employment will reach at least 20 FTE by the end of the proposed project. Companies with more than 200 employees and a turnover of greater than $100 million must demonstrate that the project cannot be realised without government funding.
Eligible Project Expenditure
Eligible project expenditure includes:
capital expenditure (e.g., manufacturing machinery, equipment, and technology);
other project-related non-capitalised expenditure (e.g., related to product and process improvements, evaluation and testing of new products and processes, technology development and supply chain capability development);
minor building alterations and fit-out costs;
training specific to the technology (external costs only); and
labour and contractors related to the delivery of the project (but do not include internal salaries).
Eligible project expenditure must:
be incurred by the grant recipient within 12 months of execution of the Grant Agreement;
be a direct cost of the project; and
be exclusive of Goods and Services Tax (GST).
Projects must clearly demonstrate how the funding will support:
the creation of new jobs, and
increased productivity through investment in new technologies and processes.
The following are highly desirable:
transition to employment security or higher value jobs, and/or
skills development and uplift.
The Victorian Government is committed to supporting local manufacturing and driving economic growth across the state. The Made in Victoria – Manufacturing Growth Program is a key part of this effort, and we encourage eligible businesses to take advantage of this opportunity to support their growth and enhance their manufacturing capability.
Source: Made in Victoria – Manufacturing Growth Program | Business Victoria
Haines Consulting Group is a management consultancy firm specialising in business strategy, growth, government grants and new venture developments. If you need any assistance with a grant submission please contact us now for a confidential conversation.