The $112.5 million BIC is aimed at fostering the development of a sustainable and internationally competitive clothing and household textile manufacturing and design industry in Australia, by providing incentives to promote innovation and associated investment.
More than $112 million of assistance will be made available to the Australian clothing and household textile sector following the passage of important legislation today (18 March 2010).
The legislation provides the framework to create the Clothing and Household Textile (Building Innovative Capability) Scheme, supporting innovative activities from 1 July.
The $112.5 million scheme, replacing the TCF Post 2005 (SIP) scheme, will provide incentives to promote innovation to support an internationally competitive clothing and household textile manufacturing and design industry.
Innovation Minister Senator Kim Carr said that the enhanced scheme will play a leading role in fostering much needed innovation.
“It will help secure the jobs of Australian workers and contribute to the growth and sustainability of this vital sector,” Senator Carr said.
“The Building Innovative Capability Scheme is a key element of the Rudd Government’s $401 million Textile Clothing and Footwear Innovation Package announced as part of the 2009-10 Budget.
“The industry supports the livelihoods of tens of thousands of working families around the country. The Government is working closely with all those involved to give the sector the targeted assistance it deserves.
“Our goal is to ensure that manufacturers are able to plan their future innovation activities and take full advantage of the scheme when it comes into effect.
“This is why the Government accepted the Opposition’s amendments – to ensure participants had the certainty to begin planning future activities when the scheme begins.”
A consultation draft of the scheme, setting out the program details, was released on 5 March 2010 for stakeholders, with comments to be received by 26 March 2010. A copy of the consultation draft can be found at www.ausindustry.gov.au.
Full title of Bill: Textile, Clothing and Footwear Strategic Investment Program Amendment (Building Innovative Capability) Bill 2009.
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