The Federal Government has announced the second round of the Illawarra Region Innovation and Investment Fund (IRIIF), generating over 500 jobs and $48.8 million in investment.

 

Federal Minister for Industry and Innovation, Greg Conbet, and NSW Deputy Premier Andrew Stoner, announced 25 innovative businesses are being offered IRIIF grants worth a total of $17.2 million.

 

"These dollar for dollar co-investment grants will act as an enormous stimulus to investment in the region across manufacturing, information services, healthcare, tourism, professional services and education and training," Mr Combet said.

 

"They will create sustainable employment, expected to directly create 512 new jobs, while indirect employment in the supply chain and other service providers will grow even more significantly."

 

BlueScope Steel General Manager of Steelmaking, John Nowlan welcomed the effective partnerships between government and business demonstrated by the co-investment grants.

 

"The scope of new projects submitted for assessment in the second round was outstanding. The Illawarra Fund has demonstrated how innovative this region is, as well as the importance of encouraging entrepreneurial ideas," he said.

 

Port Kembla's National Biodiesel Ltd is among the second round recipients. The company has been offered a $2.86 million IRIIF grant for an infrastructure project expected to total more than $14.3 million in investment and create 52 new jobs.

 

CSC Australia Pty Ltd, at Mount St Thomas, has been offered a $2.76 million IRIIF grant to create a Centre of Excellence within its Technology Park campus. The centre will include world leading IT services and security operations, and is expected to create 98 new jobs.

 

A grant of $653,719 has been offered to Alminco Pty Ltd to put towards a $1.3 million expansion of one of its Fairy Meadow facilities. The company designs and manufactures equipment for the underground mining industry and has plans to employ 10 additional trade and engineering staff.