Global medtech company Maverick Biomaterials is set to expand thanks to a grant under the Regional Investment Attraction Fund.

Maverick Biomaterials, a homegrown business that provides the animal-derived materials needed for life changing medical products such as heart valves, surgical grafts and collagen, will expand its facility in Dubbo, thanks to funding from the NSW Government.

Deputy Premier and Minister for Regional NSW, John Barilaro this week announced a $1.158 million grant that will allow the medtech company to create an additional 400 square metres of office space and 600 square metres of manufacturing facilities adjacent to its existing facilities in Dubbo.

The expansion will support the business to meet growing customer demand for essential medical products and double its manufacturing output by 2023.

“This project will allow Maverick to significantly expand its advanced manufacturing capability to introduce new product lines and create up to 58 new full-time equivalent jobs including a range of opportunities for skilled workers,” Mr Barilaro said.

“This is exactly the kind of project the Regional Investment Attraction Fund was designed to deliver, and what the Regional Job Creation Fund is helping to bring forward after we announced the $100 million fund in October last year.”

Minister for Skills, Geoff Lee said in addition to funding, Maverick Biomaterials will receive development support to upskill approximately 100 staff through a program delivered through Training Services NSW worth up to $1 million.

"We are working with Maverick Biomaterials to review their skill needs and develop a plan which includes a preference to engage local training providers and grow skills locally,” Mr Lee said.

“It is important to support professional development for workers in the bush to prevent the brain drain of talent leaving regional NSW for the city and to grow a workforce of skilled workers to meet the needs of the future industries such as advanced manufacturing.”

Maverick CEO, Ben Rogers said the support of the NSW government would ensure the company could continue to supply products for patients across the world.

"The funding is significant as it has supported our expansion in Dubbo, and will accelerate us towards our vision of being the undisputed world leader in the global supply of animal-derived biological specialty products to the global human healthcare sector," Mr Rogers said.

"We had intended to expand into south-east Queensland, but timely intervention by NSW Government's Office of Regional Economic Development has ensured our intended expansion here in Dubbo."