The State Government has unveiled a $10 million funding package to boost Western Australian businesses impacted by COVID-19.
In July, Premier Mark McGowan launched three rounds of the Local Capability Fund (LCF) to help COVID-affected businesses and companies seeking to manufacture and supply Personal Protective Equipment (PPE).
The LCF program helps local businesses improve their capability and competitiveness to supply goods, services and works to the government, major projects and other important markets.
A co-funding grant of up to $500,000 per business is available under the PPE Manufacturing round to help local Small and Medium-sized Enterprises (SMEs) seeking to increase their capability to manufacture PPE.
(Grant funding will be on a sliding scale of 50% - 90% of eligible costs up to a maximum of $500,000).
Funding of up to $20,000 is also available under the PPE Market Feasibility round to help local SMEs with the costs of undertaking an independent feasibility study into their PPE manufacturing proposal.
(Grant funding will be 50% of eligible costs up to a maximum of $20,000).
A third round, the COVID-19 Business Recovery and Growth round, seeks to support eligible Western Australian SMEs that supply to, or are part of, priority industry sectors and whose business operations have been adversely impacted by the COVID-19 pandemic. Co-funding of up to $100,000 is available through this round.
(Grant funding will be 75% of eligible costs up to a maximum of $100,000).
Since 2011, the 21 LCF rounds have resulted in $6.79 million being committed to 395 SMEs, creating more than 800 jobs, 135 apprenticeships and $457.7 million in contract awards.
The LCF typically provides funding assistance for activities such as planning, improvements to internal infrastructure, plant and equipment and training.
Premier Mark McGowan said creating opportunities for Western Australian businesses is an important part of the State’s COVID-19 recovery plan.
"These grants will help successful businesses move towards manufacturing PPE right here in Western Australia, and move towards being less reliant on obtaining PPE from outside the State,” he said.
"This initiative will also help businesses retain workers as the State moves towards recovery, and in many cases, take on new staff.
"They help the State Government deliver on its commitment to drive job creation in Western Australia and support local business by capturing opportunities to drive economic growth."