A Tasmanian company is improving its facilities and increasing its workforce thanks to government grants totaling $1.2 million.
Penguin Composites received the grant through the $17 million North West and Northern Tasmania Innovation and Investment Fund, jointly established by the Federal and Tasmanian governments in 2009 in response to factory closures in the region.
Launching new building works at Penguin Composites on behalf of Federal Innovation Minister Senator Kim Carr, Federal Member for Braddon Sid Sidebottom said the project to expand the company’s production complex has generated 17 new jobs.
“I am pleased to say a further 29 positions are expected to be created in the next 18 months when the facility is in production mode,” Mr Sidebottom said.
Senator Carr said the funding was helping the company build a new workshop for fibreglass gel-coating operations, a new marine applications workshop and a power pole winding facility workshop.
“This is a significant boost for the company as it will be able to take on new and additional manufacturing work,” Senator Carr said.
The Federal Government expects over 400 much-needed jobs will be created over the life of the Fund.
“Equally as important, the Fund has resulted in a total of $36 million of investment in the region,” Mr Sidebottom said.
Tasmania’s Minister for Economic Development David O’Byrne said the north-west coast had suffered a number of job losses during the global financial downturn but it was pleasing to see new manufacturing jobs emerging in their place.
For more information visit: www.ausindustry.gov.au.