Growth Fund (Overview)Overview
This program aims to help industry adjust to the wind-down of car manufacturing in Australia. It forms part of the Government’s Industry Innovation and Competitiveness Agenda which focuses on making the most of Australia’s strengths and helping to grow high-potential businesses and most promising sectors.
The fund supports initiatives to transition workers to new jobs, help businesses find new markets and invest in capital equipment, and support regions to invest in infrastructure projects through four elements:
- A $30 million Skills and Training Programme to help automotive workers recognise their skills and train them for new jobs, while they are still employed.
- A $15 million boost to the Automotive Industry Structural Adjustment Programme to extend the programme until 30 June 2018 and provide employment support to help redundant automotive workers find new jobs. This element will be delivered by the Department of Employment.
- A $20 million Automotive Diversification Programme to help automotive supply chain firms capable of diversifying to find new markets.
- A $60 million Next Generation Manufacturing Investment Programme to accelerate private sector investment in high value manufacturing sectors in Victoria and South Australia.
A total funding pool of $155 million is available with contributions from:
- Australian Government: $101 million
- Holden and Toyota: $15 million each
- South Australian and Victorian state governments: $12 million each
Please refer to the individual streams for the specific eligibility requirements.Eligible Activities
Please refer to the individual streams for the specific eligible activities.Main Assessment Criteria
Please refer to the individual streams for the specific assessment criteria.
- Research & Development
- Business Support
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