Parliamentary Secretary for Trade, Mrs Justine Elliot has announced that businesses with approved EMDG grants of up to $50,000 will receive the full value of their EMDG approved claims. Those with grants in excess of $50,000 are likely to be paid 100 cents in the dollar this year on the balance of their approved claims above $50,000.
The EMDG scheme helps export-focused small and medium-sized Australian businesses become sustainable exporters by providing partial reimbursement of certain export promotion expenses. The scheme is designed to assist export-focused small and medium sized businesses build sustainable overseas markets. The EMDG scheme attracted 3,277 claims from Australian businesses this year.
“I am pleased to announce today we expect the second payment for the balance of grants over $50,000 to reimburse exporters their full entitlement under the scheme. The maximum grant payable is $150,000.” Mrs Elliot said.
“The Government is determined to support exporters in their key role generating jobs and prosperity for Australia,” Mrs Elliot said.
Austrade will finalise the second tranche of 2010-2011 payments under the EMDG scheme in June, with the eligible portion of outstanding expenses likely to be paid in full.
The Government announced last July it would set the ceiling for initial grant payments at $50,000, raised from the previous year when it was $27,500.
“The EMDG scheme is an important part of supporting exporters, which is why the Government has committed $150.4 million to it in the current Budget,” Mrs Elliot said.
“We have also extended the scheme to 2015–16, which means businesses can plan their export strategy in the knowledge grants will still be available.”