SCIENCE and Innovation Minister John Day and Commerce Minister Simon O’Brien have announced a plan to boost local content and assist Western Australian SMEs secure work on some of the state’s major resources projects.
The Industry Facilitation and Support Program (IFSP) will offer financial assistance of up to $25,000 to SMEs that supply their products or services to such projects.
Mr Day said the IFSP had already provided four engineering and manufacturing businesses with funding.
“The government has recognised that the small to medium manufacturing or services sectors are facing increased competition,” he said.
“The IFSP offers dollar-for-dollar financial assistance up to $25,000 for SMEs in the manufacturing and service sectors to innovate and improve their competitiveness and productivity and help them compete for contracts.”
The Department of Commerce said factors such as the increasing use of modular construction technology, global supply chains, and increased competition from Asia had resulted in lower levels of local industry participation on major resource projects.
Mr O’Brien said the program complemented the state government’s Local Industry Participation Framework introduced in July 2011.
“As major resource projects come on stream, we are improving our understanding of the strengths and weaknesses of WA’s manufacturing and services sector,” he said.
The first companies to be granted IFSP assistance were Geographe Enterprises, Bossong Engineering, Cays Engineering and Dwyer Engineering and Construction.