A Bunbury business is among metropolitan and regional businesses across Western Australia to share in more than $350,000, as part of the defence-specific round of the State Government’s Industry Facilitation and Support Program (IFSP).
Nationals Member for the South West Region, Colin Holt, said Overflow Industrial Pty Ltd would receive $20,092 to purchase fibre optic termination and testing equipment.
He said the assistance would enable 16 small and medium-sized businesses to improve their competitiveness to secure work related to the Australian Government’s multi-billion dollar defence programs.
“The successful recipients will use this funding to up-skill and diversify their business base, including purchasing new equipment, upgrading facilities, and contracting finance and marketing experts,” Mr Holt said.
“The program will help these businesses to be in the best position possible to bid for defence-related contracts. It is pleasing to see a number of the companies have taken the opportunity to access this funding to help transition into the defence space,” he said.
Regional Development Minister Terry Redman said the State Government’s Royalties for Regions program contributed $130,000 to this round.
“This dollar-for-dollar industry assistance program has supported 257 Western Australian-based SMEs to win 539 major contracts valued at $313 million since 2011,” Mr Redman said.
“IFSP has been an extremely successful program with the State Government’s $4.4 million investment in local industry, resulting in hundreds of millions of dollars in major contracts that have created 565 new jobs, including 66 apprenticeships
For media enquiries please contact Office of Colin Holt MLC on (08) 9724 1181