A$575 million to revive Australia’s textile, clothing & footwear sector
The Australian government has approved the Post-2005 Strategic Investment Program Scheme (SIP) for the revival of textile, clothing and footwear industry worth A$575 million ($447.5 million). The non-competitive grant scheme will focus on promoting investment in new TCF plant or equipment and innovation in
The scheme is complemented by the $50 million ($38.9 million) Structural Adjustment Program and the $50 million ($38.9 million) Product Diversification Scheme. The government’s total $747 million ($581 million) package also includes a $27 million ($21 million) extension to the Expanded Overseas Assembly Provisions Scheme, the $25 million ($19.4 million) Small Business Program and the $20 million ($15.6 million) Supply Chain Program, which commences in 2010.
The Structural Adjustment Program will help workers find other jobs in parts of the country where the textile industry is ailing. The Product Diversification Scheme will aid business in sourcing material overseas and growing product ranges.
Ian Macfarlane, minister for Industry, Tourism and Resources, said: "Australia’s $9 billion ($& billion) textile, clothing and footwear manufacturing industries can now apply for investment and R&D assistance under the package which has been closely and extensively negotiated with industry players."
