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How the manufacturing sector is backed to drive economic growth

The Andrews Labor Government has released a major new policy statement today aimed at boosting the manufacturing sector to drive economic growth and create high-skilled jobs of the future.

Minister for Industry Support and Recovery Ben Carroll launched the Made in Victoria 2030: Manufacturing Statement which outlines the Labor Government’s ongoing plans for the state’s $31 billion manufacturing industry.

“This statement provides a clear vision and plan for our advanced manufacturing future – creating jobs and positioning Victoria as a world-leading manufacturing location,” said Minister for Industry Support and Recovery Ben Carroll.

“We’re supporting local manufacturers to succeed and create high-value jobs that deliver greater prosperity for Victorians – ensuring Victoria remains the manufacturing state in the future.”

Victoria’s manufacturing industry boasts around 23,000 firms, employs more than 260,000 people, and provides more than 27 per cent of Australia’s manufacturing output.

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Major investments by world-leading companies are creating secure jobs, building local capability to connect into global supply chains and putting Victoria at the forefront of advanced manufacturing.

These include Moderna’s investment in mRNA vaccine manufacturing and research, Nissan Casting’s expansion into electric vehicle components, Hanwha’s delivery of multibillion-dollar defence projects, and George Weston Foods’ new flour mill and production growth across regional Victoria.

The statement sets out a vision to ensure Victoria continues to be a place for advanced manufacturers to grow, including in key sectors such as low-emissions and renewable energy, health technologies, defence and space, digital and advanced technologies, and food manufacturing.

Actions outlined in the statement include adopting new technology, increasing industry engagement, strengthening local supply chains, upskilling the future workforce, creating thriving hubs and precincts, and boosting exports.

The Labor Government has introduced a range of initiatives to support the state’s advanced manufacturers, including the Breakthrough Victoria Fund, the Manufacturing Industry and Development Fund, the Australian Medtech Manufacturing Centre and the Low Carbon Manufacturing Grant Program.

Through the Breakthrough Victoria Fund, the Government will be investing $2 billion over ten years to support businesses to commercialise, boosting innovation and creating high paying jobs in key industries such as agri-food, health and life sciences, the low carbon economy and digital technologies.

 

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