50,000 jobs are expected to be lost across the automotive sector. What is the government doing about it?
Government turns off the tap
The Australian the tax payer has largely footed the bill to prop up the automotive sector, shelling out more than $5 billion dollars in “industry assistance” over the past 10 years alone.
Jobs to go
With Holden, Ford and Toyota shutting down their manufacturing facilities, many jobs are expected to be lost.
Numerous analysis points to the fact that 50,000 workers are expected to lose their jobs across the country.
So where are they going to go?
Almost $50 million available
The Australian Government is rolling out a $47.5 million investment in the nation’s advanced manufacturing sector through the Advanced Manufacturing Growth Fund.
Advanced Manufacturing Growth Fund supports capital projects to establish and expand advanced manufacturing activities in Victoria and South Australia.
But these capital projects will require you to put on jobs.
Why are we still manufacturing?
The Advanced Manufacturing Growth Fund reflects the Government’s commitment to transitioning the manufacturing sector to globally focused, high skill, advanced manufacturing.
Manufacturing continues to be a major part of our economy, but the sector needs to continue its transformation by investing in advanced technologies, design and engineering excellence, and innovative business processes.
The Government wants to see an Australian manufacturing sector that continues to transition from traditional, heavy industrial processes to knowledge-based manufacturing of higher value products, so it can capture new market opportunities.
How much can you get?
The Advanced Manufacturing Growth Fund will provide grants to small and medium enterprises for up to one third of eligible project costs, to establish and expand advanced manufacturing activities in Victoria and South Australia. Individual grants will be between $500,000 and $2.5 million.
What can you spend it on?
Eligible activities include:
- acquisition, installation, construction and commissioning of new machinery and equipment;
- fit out, alterations and/or extensions to existing premises related to the new machinery or equipment acquired through the Project; and
- training directly related to the use and maintenance of any new equipment or machinery to be acquired through the Project.
Applications for the Advanced Manufacturing Growth Fund close on 14 August 2017.
Need Help with it?
Send me an email firstname.lastname@example.org.
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.
In March 2014, Bulletpoint assisted Cottage Cheese Farm secure $765,000 through the Melbourne North Innovation and Investment Fund.
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.