The Gillard Government announced yesterday it will bring forward $160 million in Clean Technology Investment Program funding to 2014-15 to increase manufacturing investment and boost productivity and competitiveness.
The Clean Technology Investment Program provides funding for both general manufacturers and those in the food and foundries sectors. To date, the Program has supported 222 projects with more than $121 million in grants.
“This is a great stimulus for manufacturing, which is facing difficult circumstances with the high Australian dollar and intense global competition,” Minister for Climate Change, Industry and Innovation, Greg Combet, said in yesterday’s media release.
“These projects are good for business and good for the environment.”
Projects announced so far will deliver energy and productivity savings of more than $30 million per year and almost 25 per cent of these projects are achieving reductions in emissions intensity of more than 50 per cent.
Growing demand for funding under the $800 million Clean Technology Investment Program and the $200 million Clean Technology Food and Foundries Investment Program has come from all sectors and includes strong involvement from regional manufacturers, particularly in the food and foundries funding stream.
Managing Director of Wiley, Tom Wiley said, “This is great news and will enable more food manufacturers to continue to take advantage of this $1 for $1 funding opportunity and invest in the future of their business and the Food Industry. The time to act is now.”
“We have already been working closely with our clients to support them in securing grants and are always looking for new opportunities to improve our client’s facilities and strengthen the Food Industry as a whole.”
Read the Government’s Media Release here