Tasmanian advanced manufacturers are amongst the best in the world and the Advanced Manufacturing Accelerating Growth Program Round 4 is now open with up to $100K in grant funding.
Deadlines and Timings
Application for this grant is open until 24 March 2023. Outcomes for Round 4 are to be notified by 22 May 2023.
Overview and Grant Amount
The aim of the Advanced Manufacturing Accelerating Growth Program is to support Tasmanian-based advanced manufacturing enterprises to become more competitive, resilient and able to scale-up to better compete in global markets. The key features of this grant for Tasmanian-based advanced manufacturing enterprises are as follows:
- funding for purchase of capital equipment linked to an off island market driven expansion opportunity with resulting increased employment
- co-contribution basis
Eligibility and Criteria
To be eligible for financial assistance from the program the applicant:
- must be able to demonstrate that they are a Tasmanian-based advanced manufacturing enterprise
- must have an Australian Business Number and be registered for GST
- cannot receive in excess of $100K per financial year under this program
- if funding is received in 2021-22 and then any application for the 2022-23 must be a different manufacturing growth project
- if funding is approved, be able to finalise the project within 12 months
- if funding is approved, be able to demonstrate how the balance of the project will be funded
- must have annual sales turnover greater than $300K and less than $50M
- must not be a consultant or intermediary
- must not be subject to any legal disability, including bankruptcy or liquidation
The program provides a reimbursement of up to 50% of approved project costs up to a maximum of $100K. Eligible project expenditure cannot be retrospective. Eligible expenditure includes:
- plant and equipment to be used in the manufacturing process
- commissioning costs
The following will be NOT considered as eligible expenses:
- reimbursement of retrospective project expenditure
- salaries and wages
- general operational business expenses including office expenses, maintenance costs, accounting, legal, compliance, government fees and software licensing (installation or upgrades)
- costs associated with patents and intellectual property
- building construction, modification or repairs
- product prototype research and development.
Below are some of the successful applicants that were able to secure up to $100K grant funding for their businesses.
- Marinova Pty Ltd (Round 1)
- Island Block and Paving Holdings Pty Ltd (Round 1)
- Lightning Protection International Pty Ltd (Round 1)
- CBG Systems Pty Ltd (Round 2)
- Tasmanian Seed Dressing & Storage Company Pty Ltd (Round 2)
- Aqua Clean Tas Pty Ltd (Round 2)
- Bioflex Nutrition Pty Ltd (Round 3)
- Delmade Pty Ltd (Round 3)
- Tamar Hydro Pty Ltd (Round 3)
Treadstone experts can help you understand government grants and maximise the benefits for your business. We have been helping clients since 2008 and our clients can testify to our proven success record. Working with us means you get the maximum grant with minimum risk and effort. Our expertise includes R&D Tax Incentive registration and tax schedules, Export Grants, Capital Expenditure and Infrastructure Grants.
Get in touch with us and let’s discuss this more in detail.
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