The Australian Government is committing $52.8 million to the Manufacturing Modernisation Fund (MMF) program. This second round builds on the popular and successful first round of the program.
It will support approximately 150 firms that align with the National Manufacturing Priorities.
Fast-tracking capital investment in manufacturing will help businesses:
- take on new employees
- upskill workers
- invest in new technology to support Australia’s COVID-19 recovery
This funding will help build modern, agile and digitally‑enabled manufacturers who can speed up Australia’s economic recovery as part of the government’s JobMaker plan.
Manufacturing Modernisation Fund round two
The MMF round two aims to address barriers to growth and innovation.
MMF round two will:
- co-fund capital investment technology upgrades that help transform businesses
- help create and maintain a highly skilled workforce through jobs growth and upskilling
The program will offer:
- large-scale grants of $100,000 to $1 million on a 3-to-1 funding basis
- support for transformative investments in technologies and processes
The Australian Government is building on the success of the $48.3 million round one of the MMF. Round one supported around 200 projects valued at more than $215 million. These projects are expected to create around 2,600 new jobs.
MMF round two will open before the end of 2020. To be eligible for grants, businesses will need to show:
- expected job growth
- upskilling of their existing employees
- alignment with the National Manufacturing Priorities
This funding complements the establishment of the Modern manufacturing Initiative.
The Minister announced initiatives to transform Australian manufacturing on 1 October 2020.