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For further details see our joint press release.
More than 400 jobs will be created under the North West and Northern Tasmania Innovation and Investment Fund, including in the composites industry.
The joint $17 million initiative of the Australia and Tasmanian Governments was launched in response to factory closures in the region and to provide families and communities with sustainable jobs and economic stability.
The announcement was made by the Prime Minister, Premier of Tasmania and Federal Innovation Minister.at Penguin Composites, which will receive over $1.3 million to expand workshop capacity at two sites and to fund new plant and equipment, generating 46 new jobs. The company makes fibreglass, composite and metal products for industry applications.
In total, the 36 projects will result in an additional $34 million investment in the region and will create high-wage, high-skill jobs in a diverse range of industries, including agriculture, meat processing, manufacturing, transport, construction, biotechnology and printing.
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