Seven Tasmanian companies have been awarded grants totalling $619,000 to assist in expanding their manufacturing capabilities to support interstate and international market growth opportunities.
The grants were funded by the Tasmanian State Government as part of the Advanced Manufacturing Accelerating Growth Program. The program encourages advanced manufacturers to invest in new equipment to support growth into new markets or expand current ones.
It is anticipated this funding will encourage some $1.72 million in total investment and generate more than 80 new manufacturing jobs within Tasmania.
The manufacturing sector is pivotal to the Tasmanian economy, generating more than $7 billion in turnover a year and employing 18,000 Tasmanians.
Five of the successful applicants in round three of the program are based in the regional areas of Grove, New Norfolk, Exeter, Westbury and Deloraine. The regional manufacturers being supported are Odyssey Geophysics, Tamar Hydro, Delamade, Bioflex Nutrition, and Decrolux.
Complete list of grant winners
Round four of the Advanced Manufacturing Accelerating Growth Grant program is expected to open in early 2023.
Further information and updated program guidelines will be available from Business Tasmania in late January 2023.