Local Industry Fund for Transition (LIFT)

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Local Industry Fund for Transition (LIFT)

Up to $2M is available from the Local Industry Fund for Transition (LIFT) for projects that increase capacity and lead to an increase in sustainable jobs.

Local Industry Fund for Transition, LIFT Grant, LIFT Funding, LIFT Fund, Local Industry Fund

 

Manufacturing Grant Consultant

Call 1300 658 508

 

Local Industry Fund for Transition – LIFT Grant

The Local Industry Fund for Transition (LIFT) is a Victorian Government initiative that supports investment by businesses leading directly to new sustainable jobs in regions affected by the announced closures of the three major car manufacturers (Ford, Holden and Toyota) in Victoria. It will focus on new investment to create new or additional capacity that results in sustainable jobs and helps the region build its economic base.

 

Case Studies

Future Industries Fund Grant Consultant

In November 2015, Bulletpoint assisted Harry & Larry’s Ice-cream secure $1,200,000. Based in Brunswick, Harry & Larry’s manufacture a range of specialty ice creams.

The  grant will see 30 new jobs created and investment in a factory expansion with custom engineered production lines, including the latest freezing technology, to make a range of gourmet ice creams and desserts in complex shapes and layers.

 

Next Generation Manufacturing Investment Programme

In March 2014, Bulletpoint assisted Cottage Cheese Farm secure $765,000. Based in Glenroy, Victoria, Cottage Cheese Farm is a speciality cheese manufacturer making mainly Haloumi, Ricotta and Mozzarella cheeses.

They received funding to assist with construction of a $6M purpose built cheese and yoghurt manufacturing facility. The project will allow them to expand current operations and introduction of new product lines.

Bulletpoint has assisted a number of clients secure manufacturing grants. Check out more case studies.

 

Streams

The LIFT Grant comprises four sub-funds covering the geographical areas of:

  • LIFT Geelong – Local Government Areas of Colac-Otway, Golden Plains, Greater Geelong, Queenscliff and Surf Coast
  • LIFT Melbourne’s North – Local Government Areas of Darebin, Hume, Moreland and Whittlesea
  • LIFT Melbourne’s South East – Local Government Areas of Greater Dandenong, Kingston, Casey, Frankston, Knox, Monash, Whitehorse, Maroondah, Cardinia and Yarra Ranges
  • LIFT Melbourne’s West – Local Government Areas of Wyndham, Melton, Hobsons Bay, Maribyrnong, Brimbank and Moonee Valley.

 

Objectives

The Local Industry Fund for Transition (LIFT)  is part of the Victorian Government’s Towards Future Industries: Victoria’s Automotive Transition Plan, which aims to:

  • Help businesses in the automotive parts and related supply chain industries find new markets in the global automotive industry or other industries within Australia
  • Provide assistance to automotive industry workers to find new jobs
  • Support economic development in the areas most affected by the closure of the major car manufacturers

 

Funding

The Local Industry Fund for Transition (LIFT) provides grants of up to 25 per cent of eligible project expenditure, with a maximum grant of $2 million. Applicants will need to outline the expected returns from the investment, including jobs and other economic benefits.

Projects with total eligible expenditure of less than $200,000 will not be considered for this program. Funds from any other government program (Commonwealth or state) cannot form part of the co-contribution.

 

Eligible Project Activities

LIFT Funding will only be provided to meet a successful applicant’s eligible expenditure on the approved project. Eligible project expenditure may include:

  • Purchase of equipment or machinery to assist business establishment or expansion (including for example, second hand or repurposed automotive manufacturing equipment)
  • Direct labour costs incurred on employees directly employed on implementing and/or commissioning the agreed project
  • Construction or fit-out of a new building or extension to existing premises
  • Associated project management costs

LIFT applicants must meet the co-contribution requirement with expenditure on eligible project activities. In-kind contributions are excluded (i.e. non-monetary resources).

LIFT funding will not be provided for retrospective activities (i.e. where project expenditure is incurred prior to receipt and acceptance of a letter of offer). LIFT applicants that commence their projects prior to execution of a grant agreement do so at their own risk.

LIFT projects will be expected to commence within 90 days of execution of the grant agreement. Applicants will also need to provide evidence, in the form of a purchase order and/or invoice from the supplier/s, that at least ten per cent of eligible project expenditure has been committed by this date.

Eligible LIFT project expenditure must:

  • Be incurred by the grant recipient within 18 months of execution of the grant agreement or by the project completion date in the grant agreement
  • Be a direct cost of the project
  • Be exclusive of the Goods and Services Tax (GST)

 

Eligible Applicants

To be eligible for LIFT grant assistance, applicants must have the following:

  • An Australian Company Number (ACN)
  • An Australian Business Number (ABN)
  • Financial capacity to meet the co-contribution requirement ($3 for every $1 granted)
  • Financial reports for the last three financial years to enable the Department of Economic Development, Jobs, Transport and Resources (the Department) to conduct a financial risk assessment (FRA).

FRAs are undertaken by the Department to establish the financial risk exposure of the applicant, and whether the applicant is likely to remain financially viable over the duration of the project.

Businesses of all sizes are eligible to apply and joint applications are acceptable, provided there is a lead applicant that is both the primary project proponent and an eligible applicant.

Where a project involves two or more businesses, the lead applicant should submit the application and will be subject to a FRA. All participating businesses will be subject to probity checks.

 

Timing

Local Industry Fund for Transition (LIFT) applications can be submitted at any time.

 

Potential For Funding

Funding for this grant has been cut significantly. Our advice on the chance of success is about 5%.

 

Manufacturing Grant Consultant

Call 1300 658 508

 

More Information

 

Media Release

Three Geelong businesses have been able to transform their operations, buy new equipment, employ extra staff and retain their current workforce thanks to $2.3 million from the Andrews Labor Government.

Minister for Industry Ben Carroll today visited Flat Glass Industries Geelong, which, thanks to the Labor Government’s Local Industry Fund for Transition (LIFT), has successfully started the transition from automotive glass to supplying glass to homes and businesses.

As part of the project, the company is revamping a dedicated automotive glass processing facility that otherwise would have closed and is converting it to a state-of-the-art architectural glass facility with new machinery.

Thanks to the Government’s support, Flat Glass Industries will also retain its 75 strong workforce and provide them with an opportunity to re-skill.  The company is also creating an additional five jobs.

Founded in 1977, the company was the only Tier 1 automotive supplier of glass in Australia and provided products to Ford, Holden and Toyota.

Another Geelong-based business, Routleys Bakery, has also received funding under the LIFT program, so that it can renovate its facility, purchase new machinery, diversify its products and target new markets.

The company is expected to create 10 new roles, five of which are expected to be suitable for ex automotive workers – a welcome boost for the Geelong region.

Geelong Confectionery Company has also received a grant, which will allow them to acquire new machinery, upgrade existing equipment and diversify its current operations, creating four new jobs.

The Labor Government has committed over $100 million in manufacturing support, which has created more than 3,000 jobs resulting in $939 million in private investment.

For more information about LIFT and expressions of interest visit business.vic.gov.au/lift

2017-12-17T13:56:13+00:00
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