Minister for Industry and Advanced Manufacturing, Colin Brooks, has launched the Victorian Industry Policy to grow local industries, back cutting-edge technologies and strengthen the economy.
Building on the priority sectors outlined in the Economic Growth Statement, the industry policy provides additional focus on key industries and technologies where Victoria can leverage existing strengths and develop new competitive advantages.
“This policy builds on the Economic Growth Statement to grow the industries that will power Victoria’s future – and making sure Victorians are the ones who benefit from it,” said Brooks,” said Brooks.
“We’re backing the people and businesses who drive our economy – with secure jobs, stronger local supply chains, and a more self-reliant economy that benefits all Victorians.”
The Victorian Industry Policy is anchored around four core principles:
- Aligning skills to the needs of industry.
- Growing the state’s industrial base.
- Capturing opportunities in emerging and nascent industries.
- Ensuring energy security as Victoria transitions.
The policy is designed to build sovereign capabilities by setting out how government, industry and researchers can work together to make the most of Victoria’s skilled workers, top research institutions and innovative businesses.
This includes backing advanced manufacturing, with Melbourne set to host the new Additive Manufacturing Cooperative Research Centre (CRC)
The CRC is an industry-led collaborative research funding organisation that focuses on advancing Australia’s additive manufacturing sector, also known as 3D printing.
With much of the research happening here in Victoria, more than $116 million will go into new manufacturing technologies – expected to boost our economy by almost $2.8 billion over 15 years.
Modern construction methods are also a focus – using smart tech to build more homes, faster and more affordably, like the work already happening at Modscape in Essendon Fields with robotics and sustainable design.
Victoria has led the nation in economic, jobs and business investment growth, with the most recent data showing over 680,000 more Victorians employed since September 2020.
To read the Victorian Industry Policy and for more information, visit djsir.vic.gov.au/industry-policy.