The Morrison Government is launching a new era of Australian manufacturing, as part of our JobMaker Plan to rebuild the economy, create jobs in Bonner and recover from the COVID-19 recession.
The $1.5 billion Modern Manufacturing Strategy will make Australian manufacturers more competitive, resilient and able to scale-up to take on the world, while ensuring our nation is more secure.
“Our Modern Manufacturing Strategy is exciting news for the 513 local manufacturing businesses and the 4651 locals they employ,” Federal Member for Bonner Ross Vasta MP said.
“Importantly, it will create new jobs in Bonner both now and into the future.”
Mr Vasta said the Government was charting a course to ensure manufacturers right across the country could seize the opportunities to grow into new and emerging local and global markets.
“Manufacturers are central to our economic recovery and they have capabilities that underpin so many other industries and support businesses in my electorate right along the supply chain,” Mr Vasta said.
“As a Government, we’re determined to play to our strengths and ensure we are strategically investing in areas where we have an edge.”
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,” Minister Andrews 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 address the competitiveness of individual manufacturers in our priority sectors, with a $52.8 million expansion of the Manufacturing Modernisation Fund.
“At the last election we announced the Manufacturing Modernisation Fund, which has delivered support for 200 projects across the nation, including Crystalaid at Tingalpa, and I’m very pleased we are now expanding it to help more local businesses boost their production,” Mr Vasta said.
“There’s been a real groundswell of support for Australian-made recently because we all know buying Australian made supports local jobs.
“Our plan to scale up will mean more Australian made products on the shelves and more jobs in our local community.”
The COVID-19 crisis has also highlighted supply chain issues and opportunities. A $107.2 million Supply Chain Resilience Initiative will support projects that address an identified supply chain vulnerability.
Innovation and Science Australia will be repurposed as Industry Innovation and Science Australia, to provide strong industry advice to Government throughout the implementation of the Strategy.
This strategy builds on the work across Government to improve economic conditions for business, including streamlining regulation, cutting red tape and cutting input costs. A key part of that will be cutting energy costs as outlined in the Gas-fired recovery statement on 15 September 2020.