Last week Friday, the Albanese Government announced the first rounds of the Defence Industry Development Grants program have been completed, with 58 grants worth $16.5 million awarded to Defence suppliers in four streams, including export, skilling, security, and sovereign industrial priorities.
Among the successful companies, Canning Vale-based company, VEEM, will receive $1 million to boost its manufacturing capabilities as part of a national investment in Australia’s defence industry.
The funding will help VEEM procure a multi-axis CNC machine and scanner to produce advanced propellers and other complex components for maritime platforms.
Tangney MP, Sam Lim, welcomed the announcement and praised the local company’s contribution to high-tech manufacturing in Western Australia.
“This is great news for local jobs, local skills and WA’s advanced manufacturing sector,” Mr Lim said.
VEEM is one of four businesses across Australia to receive a $1 million grant under the Defence Industry Development Grants program’s sovereign industrial priorities stream. The program supports companies that manufacture components for submarines, guided weapons, aerospace and other defence technologies.
The Defence Industry Development Grants program will continue offering matching grants to eligible businesses until 2028.
