The Australian Government has invested $101 million into the $155 million Growth Fund to ensure workers in South Australia and Victoria are receiving the support they need.
These workers are being reskilled, supply chain firms are diversifying and regions are adjusting into new areas of the economy.
To support employees, the Australian Government committed $15 million to extend the Automotive Industry Structural Adjustment Programme, which is helping automotive workers find new jobs. This programme is open to applicants into 2018.
To support the automotive supply chain, the Australian Government has contributed to the $20 million Automotive Diversification Programme and the $90 million Next Generation Manufacturing Investment Programme.
The Automotive Diversification Programme is helping automotive supply chain firms enter new markets. It has generated $51 million in private sector investment.
The Next Generation Manufacturing Investment Programme is accelerating private sector investment in high value manufacturing sectors in Victoria and South Australia. It has generated over $283 million in investment.
These elements of the Growth Fund are working now, helping automotive employees and supply chains now, with money going out the door as we speak to projects that are delivering jobs.
Businesses in impacted regions have received Commonwealth assistance though the $29.5 million Geelong Regional Innovation and Investment Fund and $24.5 million Melbourne North Innovation and Investment Fund that support innovative, job creation projects that strengthen and diversify these regions.
