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

An Irish insulation manufacturer has officially opened its new facility in Somerton, creating 50 new jobs and setting new standards in energy efficiency.

Minister for Industry and Employment Wade Noonan congratulated Kingspan at a special ribbon-cutting ceremony today.

The Andrews Labor Government has worked with Kingspan to develop the Oherns Road factory – worth about $40 million – by providing funding support and assisting with planning and approval.

The company’s new Somerton base has become Australia’s first ever Green Star-rated manufacturing facility.

It includes a 750 kW solar system built into the roof design, and innovative features such as industrial low energy lighting and heating systems. It’s at least 10 per cent more energy efficient than Kingspan’s other manufacturing facilities.

Kingspan will supply its insulation products to the Australia, New Zealand, Asia and Oceania markets, with 35 per cent of output expected to be exported by 2020.

The Victorian Government supported Kingspan’s investment in partnership with the Commonwealth Government through the Melbourne’s North Innovation and Investment Fund (MNIIF).

MNIIF has since been replaced by the $33 million Local Industry Fund for Transition (LIFT), supporting new investment and creating jobs for retrenched automotive workers.

These grants have already created an additional 122 jobs from six projects in Melbourne’s north – as the Government works to build a strong, innovative and sustainable manufacturing sector.