The Federal Government has announced it will bring forward $160 million in Clean Technology Investment Program funding to the 2014-15 financial year, in a bid to increase manufacturing investment and boost productivity.

"This is a great stimulus for manufacturing, which is facing difficult circumstances with the high Australian dollar and intense global competition," Minister for Climate Change, Industry and Innovation, Greg Combet, said.

Mr Combet said that the decision to bring the funding forward will also drive around half a billion dollars worth of manufacturing capital investment in the country.

"We understand the pressures business is facing, and this decision complements the $1 billion Jobs Plan the Prime Minister and I released earlier this year to support Australian jobs,” Mr Combet said.

Projects announced so far will deliver energy and productivity savings of more than $30 million per year, and almost 25 per cent of these projects are achieving reductions in emissions intensity of more than 50 per cent.

"Through this fund, Australian manufacturers can invest in energy efficient capital equipment and low emissions technology on any scale to make a real difference to their energy consumption and save on their energy bills," Mr Combet said.

For more information, companies should contact AusIndustry on 13 28 46 or visit the website