Manufacturing News

Additional $460m in funding for CSIRO

The Morrison Government is further investing in science and technology to help businesses to grow and create jobs for Australians, with nearly $460 million in additional funding for the CSIRO.

The extra injection of funding in the 2020-21 Budget takes the Government’s total investment in CSIRO to $3.8 billion over the next four years – and addresses the impacts of COVID-19 on its commercial activities to ensure it can continue its essential scientific research.

Visiting CSIRO’s Black Mountain site today, Minister for Industry, Science and Technology Karen Andrews said this funding was central to making science and technology work for industry – a key pillar of the Government’s $1.5 billion Modern Manufacturing Strategy.

“CSIRO plays a vitally important role working with businesses to create new products and services and we want to back that crucial collaboration to turbo-charge job creation – both now and for our future,” Minister Andrews said.

“This investment in CSIRO proves the value our Government places on the contribution of Australia’s premier research body to the nation’s economy.

“Combined with our Modern Manufacturing Strategy, this increased funding for CSIRO will help make our businesses more resilient and able to scale up to take on the world – creating the jobs we need.”

CSIRO Chief Executive Dr Larry Marshall said just as science has been guiding Australia’s health response, so too will it support the country’s economic recovery from the COVID-19 pandemic.

“More than ever, science and technology are vital to driving Australia’s recovery and building future resilience,” Dr Marshall said.

“Now is the time to lean in to Australian innovation – to support local businesses to grow, create jobs and turn science into solutions. We have an opportunity to determine the new kind of Australia we want to emerge from this crisis.”

Despite the disruption of COVID-19, CSIRO continues to deliver for the nation, including working with global health organisations to respond to the pandemic.

The 2020-21 Budget includes billions of dollars in investment to support industry, science and technology to lead the country’s economic recovery, including a $2 billion boost for the Research and Development Tax Incentive.

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