Molong-based Davimac Group has welcomed the Federal Government's $4 billion JobMaker and $1.4 billion Modern Manufacturing packages in the 2020-21 budget.
The manufacturing and engineering company has seen significant growth in the past year and these packages come at an opportune time for the group, and managing director Cameron Provost said the Davimac Group had a strong tradition of developing skills in the Central West.
"The JobMaker and Modern Manufacturing Strategy outlined in the budget will provide us with another mechanism we can use to bring on more skilled people and keep manufacturing expertise here in the heart of NSW."
The JobMaker package consists of a $4 billion JobMaker Hiring Credit for new staff and the $1.2 billion Boosting Apprenticeships Wage Fund.
Davimac Group has put on seven new staff in the past year and employs five apprentices.
"Our people are the most important part of our business, so anything that lets us bring additional value to them is more than welcome," Mr Provost said.
"As a regional employer we're privileged to be able to develop skills in our young people that not only benefit our business, but set them up for success in their own future careers."
The 2020-21 budget also includes $1.5 billion to support the Modern Manufacturing Strategy over the coming years. The investment includes a commitment to help Australian industry scale up to meet the challenges of twenty-first century manufacturing.
Davimac group operations manager Pavel Melnichuk said he was glad to see the budget "recognise the importance of Australia's food production industries".
"We've been working hard to increase our own production efficiency. We're looking forward to seeing more detail around how we can benefit from this package," he said.
Davimac Group has already been able to increase production efficiency by acquiring a new robot welder through the recent instant-asset write-off scheme. The machine was installed in June and forms part of the business' capital works program.
Agricultural manufacturing was valued at $1.8 billion in 2019, but foreign companies accounted for over sixty per cent of domestic demand.
"COVID-19 has placed renewed focus on improving Australia's supply chains, so there has never been a more important time to build local skills and help secure Australia's future as a powerhouse of industry and innovation," Mr Melnichuk said.