There is a $100 million grant available to help manufacturers improve productivity, efficiency and skills upgrading of workers.
The grant targets SMEs, such as MIT Tenants in the print and manufacturing sector, so that the companies could start their productivity journey earlier by having access to upfront co-funding support to enhance their work processes, invest in training and for the purchase of new technology to attract workers.
The $100 Million Grant: Inclusive Growth Programme (IGP)
The $100 million Inclusive Growth Programme (IGP) is administered by the National Trades Union Congress’ e2i (Employment and Employability Institute), in partnership with Government agencies, participating companies and the Labour Movement’s network of unions.
The IGP serves to catalyse industry re-development, promote inclusive growth and to ensure sharing of productivity gains with workers through higher wages. The programme encourages businesses to become more productive by co-funding projects that improve productivity using measureable indicators, as well as improve the value of low-wage jobs and raise the wages of workers who are earning $1,700 and below per month.
Today, over 400 companies have tapped on the IGP to enhance their operations to drive productivity and equip their workers to boost efficiency. Productivity improvement projects include enhancing work processes and investing in new machinery or technology.
Eligible companies can receive up to $150,000 per project and $500,000 per company per year:
- 50% co-funding for use of equipment/technology and process engineering
- 90% co-funding for training directly relevant to productivity improvement
One of the many beneficiaries of the IGP is Asiawide Print Pte Ltd. The printing company faced challenges such as having to meet orders under a tight time frame, as well as the need to cater to seasonal peak demands. By tapping on the IGP grant, the company was able to improve pre-press quality with a new workflow process. At the same time, on-press productivity also increased with the use of fully automated machines. As a result, the company enjoyed an overall productivity output increase of at least 30%. 18 of the workers were also up-skilled to operate the new machines. They will receive a pay raise and productivity bonus if the company meets its target.
For more information, visit: www.e2i.com.sg/igp or email manufacturing@e2i.com.sg.