The Morrison Government is backing a local company in the Groom electorate to continue to modernise how they do business.
Toowoomba based DIT Technologies Ltd will receive $100,000 from the Manufacturing Modernisation Fund (MMF) for a $763,000 project that will help significantly expand the company’s reach to domestic and international markets.
Federal Member for Groom Dr John McVeigh MP said the support came at an incredibly important time for the local manufacturing sector.
“The Morrison Government is committed to Australian manufacturing and supporting small and medium sized businesses like DIT Technologies Ltd, which is based here in Toowoomba,” Dr McVeigh said.
“This investment will not only strengthen the business and create jobs, it will provide a much needed confidence boost as we face this unprecedented pandemic.
“Under the project, the company will increase the innovative capacity to manufacture agricultural technology, to expand its supply of products to domestic and international markets, as well as increase its R&D capacity to support the development of future technology for these markets.”
200 projects worth more than $215 million dollars are being supported through the Manufacturing Modernisation Fund (MMF). The Federal Government is contributing $48.3 million.
Minister for Industry, Science and Technology Karen Andrews said the projects are expected to create 2,600 Australian jobs and were about preparing Australian manufacturing beyond COVID-19 and the challenges of today.
“We established the MMF before the coronavirus pandemic to help small and medium sized manufacturers invest in capital equipment and new technologies to transform and upgrade their manufacturing operations,” Minister Andrews said.
“Now as we face the coronavirus pandemic and look to come out the other side stronger, this investment will be more critical than ever.
“I am determined to further strengthen Australian manufacturing and the current pandemic gives us the opportunity as a nation to reassess and commit to the values of Australian-made goods.”
The MMF builds on other Federal Government investments in manufacturing growth and competitiveness, including the $100 million Advanced Manufacturing Fund, the Advanced Manufacturing Growth Centre, the Entrepreneurs’ Programme, and the $40 million Innovative Manufacturing Cooperative Research Centre.
For more information on the Manufacturing Modernisation Fund visit www.business.gov.au/MMF