The headquarters for the first of ten Industry Innovation Precincts, part of the federal government’s Industry Innovation Statement – the Plan For Australian Jobs – was opened on Thursday.
The first site for the planned network of 10 precincts, with a budget of $504.5 million in total and announced in February, is dedicated to manufacturing and is located in the Clayton campus of Monash University.
"By bringing together our best research minds and our most innovative businesses, Industry Innovation Precincts will create Australian businesses and industries that can compete on the world stage," said industry minister Greg Combet in a statement.
"The Manufacturing Precinct will help Australian manufacturers to improve skills and technologies, to tap into research expertise and to build collaborations."
The precincts are funded by the removal of R&D tax credits for companies with annual revenues of $20 billion or more, estimated to affect 15-20 companies.
"It will bring together businesses, research institutions, service providers and government agencies to support and create internationally-competitive manufacturing businesses and jobs," said Mr Combet.