Victorian industry gets $245 million funding boost

THE Victorian Government has released its long awaited manufacturing and services statement, which promises to help both sectors try to stay competitive as part of a $245 million strategy unveiled today by Premier John Brumby.

THE Victorian Government has released its long awaited manufacturing and services statement, which promises to help both sectors try to stay competitive as part of a $245 million strategy unveiled today by Premier John Brumby.

Launching Building Our Industries for the Future at Thales Air Systems in Melbourne with Acting Industry and Trade Minister John Lenders, Brumby said the strategy was about strengthening industries critical to Victoria’s economic prosperity and creating new business opportunities.

“The Victorian Government is taking action to ensure industry and manufacturing can turn the rapidly changing global economic conditions into opportunities to build future growth, secure and create new jobs and develop more innovative industries.”

According to the Premier, direct taxpayer assistance to businesses is responsible government, saying that the tough global economic climate had brought about unprecedented new challenges for Victorian industry and manufacturing.

“One way the Government will tackle this is with a strengthened Victorian Industry Participation Policy (VIPP), to maximise local opportunities,” he said.

“When two or more bids are comparable in terms of quality and whole-of-life pricing the Government will continue to give preference to bids that maximise local industry benefits.

“The Industry Capability Network will have a strengthened role in certifying tenders and VIPP commitments will be included as a primary selection criteria as part of tender selection.

“The enhanced VIPP will boost local content in strategically significant major Government procurement with preference given to bids that maximise local industry benefits.”

Brumby also said that major projects that are declared of strategic significance will have additional criteria that can include minimum local content requirements and an additional weighting given to local content.

The Victorian Government strategy is the latest part of an overarching economic development plan that included Innovation: Victoria’s Future and Securing Jobs for Your Future, both released in August this year.

Building Our Industries for the Future is available online at: www.business.vic.gov.au