The Allan Labor Government is stepping up its support for local manufacturers in their transition to net zero emissions, unveiling a new grant program to facilitate the manufacture of renewable energy products. The initiative aims to cement Victoria's position as the nation's leading advanced manufacturing hub.
Today, the Government announced the opening of applications for the Made in Victoria - Energy Technologies Manufacturing program. The program is designed to help manufacturers acquire or develop new equipment, skills or technology to capitalise on opportunities in the renewable energy sector.
Businesses can access grants of between $100,000 and $750,000 to improve their capacity to manufacture components critical to zero emission and renewable energy supply chains, such as those in the wind, hydrogen and solar energy sectors.
The objectives of the programme are multi-faceted, aiming to increase business competitiveness, boost exports, improve workforce skills and create high-skilled employment opportunities. It also aims to strengthen the resilience of the state's supply chain, in line with Victoria's ambitious target to achieve net zero emissions by 2045.
This initiative follows the successful implementation of the Low Carbon Manufacturing Grants program, which last year provided $1.8 million in funding to 19 companies across the state.
Victoria's $33 billion manufacturing sector is a key pillar of the state's economy. Comprising more than 24,000 businesses, the sector supports around 260,000 jobs and is a significant contributor to the state's exports, with goods valued at $23.9 billion.
In line with the Made in Victoria 2030 - Manufacturing Statement, the Labor Government remains committed to supporting growth and innovation in the manufacturing sector. This commitment is demonstrated through initiatives such as the $20 million Manufacturing and Industry Sovereignty Fund and the $4.5 million Digital Jobs for Manufacturing program.
For more information on the Made in Victoria - Energy Technologies Manufacturing program, visit business.vic.gov.au/etmp
This program is a critical step in Victoria's journey towards a sustainable, net-zero emissions future, driven by the resilience and innovation of its local manufacturing industry.