A high-tech manufacturer and supplier of online measurement equipment will be able to buy new technology thanks to $107,700 in funding from Round 2 of the State Government’s $40 million Made in Queensland grants program.
The funding is hope to improve Real Time Instruments’ (RTI’s) productivity, profitability, product and service quality, and export capabilities across its offices in Mackay, Brisbane and Perth.
RTI welcomed the money, saying it will be used to capitalise on the growing need for process data and to double in revenue within the next five years.
“To enable this to happen the business will require modern LEAN manufacturing processes as well as streamlined enterprise resource software,” RTI CEO James Asbury said in a public statement.
RTI will soon be able to employ more staff, improve manufacturing processes and make the most of export opportunities.
“An estimated 14 new jobs will be created as a result of this grant, which will see the company put innovative processes in place to improve efficiencies and minimise waste,” Queensland Member for Mackay and Assistant Minister for State Development Julieanne Gilbert said in a public statement.
The State Government is boosting regional manufacturing through practical initiatives like Made in Queensland.
“Round 1 of the program saw our government invest $18.2 million in Queensland’s manufacturing sector, which led to the creation of an estimated 532 direct, high-skill jobs,” Queensland Minister for State Development, Manufacturing, Infrastructure and Planning Cameron Dick said in a public statement. “Through Made in Queensland Round 2, we’ll allocate a further $17.62 million to help 25 businesses around our state innovate, expand and employ.”
Queensland’s manufacturing sector is estimated to be worth $20 billion a year to the local economy and employs more than 180,000 people.
The $40 million Made in Queensland initiative complements the Queensland Advanced Manufacturing 10-Year Roadmap and Action Plan.