Advanced manufacturing fund to accelerate investment and employment

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There are exciting new opportunities to be seized for manufacturers to innovate and grow in the territory, with the opening of a new $ 7.5 million manufacturing fund today.

In partnership with the Advanced Manufacturing Growth Center (AMGC), the Territory’s Labor government launched the Northern Territory Advanced Manufacturing Ecosystem Fund (AMEF).

Cutting-edge manufacturing involves the use of innovative technologies to improve processes to create cutting-edge products. The AMEF will accelerate the creation of cutting-edge manufacturing companies and increase competitiveness and capacities across the territory, developing industries and creating more jobs for local people.

Based on the findings of the Economic Reconstruction final report, companies will be able to access co-investment grants of $ 25,000 to $ 500,000 (or more depending on scale and impact).

The fund will target projects that aim to:

Develop an advanced manufacturing ecosystem in priority sectors

Increase investment in advanced manufacturing activity

Guarantee more advanced manufacturing jobs

Market new products and processes

Support early stage pilot and small-scale research projects in advanced manufacturing

As part of the 2021 budget, the territory’s Labor government invested $ 8.75 million in a five-year partnership with AMGC to develop the territory’s manufacturing ecosystem, create jobs and expand the territory’s economic base.

Eligible industries include food and agriculture, critical minerals, defense and security, medical and pharmaceutical, space, materials recovery / recycling, energy, resources and technology, petrochemicals, construction, manufacturing, digital, marine and carbon reduction.

Projects can include pilot projects between industry and technology innovators, collaborations to implement targeted market development, and the creation of distribution and supply chains.

Each project financed by AMEF requires at least one local collaborator, that is to say a local company, a manufacturer, a supplier in addition to a research institute.

To apply for AMEF, go to: [https://www.amgc.org.au].

Quotes from Chief Minister Michael Gunner:

“We are the return capital of Australia, but we also want to be the innovation capital in Australia.

“Advanced manufacturing will be an important driver of jobs for the future, and this new partnership will give local manufacturers the opportunity to turn their dreams into reality.

“By strengthening the territory’s advanced manufacturing capabilities, we develop industries and export opportunities, and create exciting new employment opportunities for local communities and investors. “

Quotes from AMGC NT Director Charmaine Barrett:

“The NT has a significant opportunity to leverage its vast natural resources, research talents and manufacturing base to increase its impact both locally and abroad.

“The launch of the Advanced Manufacturing Ecosystem Fund comes at a time of high public sentiment and the NT government with a strong focus on critical industry.

Quotes from Major Projects Commissioner Jason Schoolmeester:

“Collaboration between local businesses, industry leaders and research partners to test, test and then scale up manufacturing techniques and technologies here in the territory will help develop local jobs, our capacity. industry and to continue the territory’s transition to the economy of the future. “

“The territory has a proud history of smart innovation and the Advanced Manufacturing Ecosystem Fund provides a pathway for co-investment to develop the jobs, skills and industry of tomorrow, today.

/ Public distribution. This material is from the original organization / authors and may be ad hoc in nature, edited for clarity, style and length. The views and opinions expressed are those of the author (s). See it in full here.
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