Tasmania’s economy will receive a $40 million injection and more than 400 new jobs will be created thanks to the $13 million Australian Government Innovation and Investment Fund and $27 million in matching investment by local businesses.

Minister for Industry and Science Ian Macfarlane said,”Forty one businesses across the State will receive from $50,000 to $1.4 million to strengthen their operations, making them more competitive by investing in technology, modernisation and building capacity,”

The Australian Government Innovation and Investment Fund is part of our commitment to deliver long term and sustainable industry opportunities that will help create new jobs by diversifying Tasmania’s economy.

We are pleased to work with the companies who have been awarded the grants to boost productivity and employment for Tasmanians.

Mr Macfarlane today joined local MPs Eric Hutchinson and Andrew Nikolic to visit some of the successful businesses that are investing in local projects to employ local people.

Among the successful applicants is GJ Engineering Pty Ltd, which will receive $86,738 towards a $173,476 new vertical lathe to diversify and increase the capacity of their production-run machine parts manufacturing plant and general engineering service. This project will create five new ongoing positions.

Mr Hutchinson said, “The joint investment from both the Australian Government and local businesses is a vote of confidence in Tasmania’s economic future,”

The creation of extra jobs in our region means new opportunities for local residents and businesses and helps create a more diverse local economy.

Mr Nikolic said successful projects in Bass would further enhance the areas in which Tasmania has a strong reputation.

Seventeen new jobs will be created in George Town and Bell Bay. George Town Seafoods Pty Ltd has also been successful with $420,000 towards a $1.3 million project to expand its salmon processing facility, creating an estimated 14 new jobs. At Bell Bay, Timberlink Australia Pty Ltd will receive $150,000 for a $343,170 project to install three sort bins at its sawmill, leading to three new jobs.

Mr Nikolic said, “Tasmanian businesses are ideally placed to meet growing demand for clean food, diversified tourism facilities and quality professional services locally, on the mainland and internationally,”

I’m delighted that local businesses have come forward with their plans for jobs growth and economic development.

The Australian Government’s Innovation and Investment Fund and is part of the broader policy approach to help all Australian industries to take advantage of new opportunities for growth and productivity gains and is an element of the Government’s wide-ranging $106 million Economic Growth Plan for Tasmania.

Grants were awarded through a competitive, merit based process to ensure that funded projects are commercially robust.

Other grant recipients include:

• Bay of Fires Bush Retreat Pty Ltd, which will receive $143,500 to construct retreat-style accommodation worth $343,500, creating six new jobs.
• SD Reid Holdings, which will use a grant of $1.14 million to establish a $4.45 million under-cover cherry orchard, extending the production season. The project in the Southern Midlands is expected to create 30 new jobs.
• National Pies in Hobart which will receive $695,000 to purchase freezing equipment and manufacturing, supporting access to wider markets.  The $1.8 million project will create 12 ongoing jobs.