North-east Victoria will benefit from the $1.5 billion Modern Manufacturing Strategy announced today, Wodonga-based Nationals Senate leader and Nationals Senator Bridget McKenzie said.
“The Modern Manufacturing Strategy is part of the Liberal and Nationals Government’s JobMaker Plan that will revive a new era of manufacturing, rebuild regional economies and create jobs as we recover from the COVID-19 recession on top of bushfires and drought,” she said.
“It’s a great first step in making region-based manufacturers more competitive, resilient and able to scale-up to seize opportunities in new and emerging local and global markets.
“This is great news for the 538 local manufacturing businesses across Indi ranging from food processing, defence, forestry construction to industrial, and the nearly 6000 locals they employ.”
Senator McKenzie added manufacturers have capabilities that underpin so many other industries and support businesses in regions like Indi, right along the supply chain.
“As a government, we’re determined to play to our strengths and ensure we are strategically investing in areas where we have an edge in this region,” she said.
Minister for Industry, Science and Technology Karen Andrews said this strategy draws on what we have learned during the COVID-19 crisis but has also been developed following extensive work with industry before the pandemic.
“Our manufacturers have risen to the challenge to deliver during COVID-19 and now, we’re unlocking their potential to deliver for our future,” she said.
“By playing to our strengths, strategically investing and boosting the role of science and technology in industry, we can open up new markets and take more of our quality products to the world. This Strategy sends a clear signal that not only is Australia open for business, but we mean business.”
The centrepiece of the Strategy is the $1.3 billion Modern Manufacturing Initiative (MMI), which will see the government strategically invest in projects that help manufacturers to scale up and create jobs.
The MMI will support projects within six National Manufacturing Priorities;
- Resources technology and critical minerals processing
- Food and beverage
- Medical products
- Recycling and clean energy
Industry will be engaged to help develop tailored road maps for each of the priority sectors.
The Strategy will also:
- Include a $52.8 million expansion of the Manufacturing Modernisation Fund to help individual manufacturers boost Australian-made production.
- Include a $107.2 million Supply Chain Resilience Initiative to support projects that address an identified supply chain vulnerability.
- Rebrand Innovation and Science Australia as Industry Innovation and Science Australia which will provide strong industry advice to government.
- Builds on work to improve economic conditions for business including streamlining regulation, cutting red tape, and cutting input and energy costs.
For more information, visit www.industry.gov.au/manufacturing