The State Government of Victoria will help fund a new A$2.5 million facility for based manufacturer based in Melbourne's south-east which will create 15 new jobs and boost company exports by A$50 million.
A grant of A$365,000 has been awarded to Medical Developments International (MDI) in Scoresby as part of the government's Future Industries Manufacturing Program.
The company will employ production and warehouse assistants, production assembly workers, and create new roles as a result of the project.
MDI is a pharmaceutical drug and medical and veterinary equipment business. It is a world leader in emergency pain relief and respiratory products.
It is the only company in the world which manufactures Methoxyflurane, the acting ingredient in Penthrox™, a fast acting trauma and emergency relief product.
MDI will manufacture Penthrox™ at the new facility for export around the world, and it is expected the company's production capacity will increase ten-fold within 12 months as a result of this project.
Victoria has a long and proud history of manufacturing.
The Future Industries Manufacturing Program is one of three industry programs under the Future Industries Fund to support high growth industries and create jobs.
Medical technologies and pharmaceuticals sector has significant growth potential, which is not only vital for Victoria's future economic prosperity but an important source of future employment for Victorians.
The sector employs more than 20,000 people and generates over A$12.7 billion in revenue.
Companies can apply for grants of up to A$500,000 under the Manufacturing Program to invest in new manufacturing technologies and processes that will create jobs and increase productivity.