The Victorian Government has launched a new $24.8 million program aimed at encouraging manufacturers to invest in new technology to boost productivity and competitiveness of the state’s manufacturing sector.

 

Launching the Investing in Manufacturing Technology (IMT), State Minister for Manufacturing Richard Dalla-Riva said the program would provide grants of up to $250,000 to support the uptake of leading technologies and practices.

 

Mr Dalla-Riva said the program is aimed at offsetting the increased pressures from the high Australian dollar and growing costs.

 

"There is great resilience in the Victorian manufacturing sector, and I was pleased to see manufacturing jobs in Victoria rose for the second consecutive quarter, reported on Thursday with the release of the Australian Bureau of Statistics labour force data,” Mr Dalla-Riva said.

 

Applications for IMT Round One are open from 18 June 2012 to 20 July 2012, with total funding of up to $3 million available in this round. Grants will be allocated on a competitive basis and will require a minimum co-contribution from the business of $3 for every $1 of government support.

 

An outline of the program, key dates, application process, eligibility criteria, assessment process and reporting requirements can be found at www.business.vic.gov.au/imt or call Business Victoria on 13 22 15.