Manufacturing our post-COVID economy

ICNL has welcomed the Federal Government’s $1.5 billion investment in a Modern Manufacturing Strategy.

The funding, announced in this year’s Budget, is aimed at creating jobs to strengthen the post-COVID economy.

A cornerstone of the strategy is the $1.3 billion Modern Manufacturing Initiative, a series of government investment in projects that help manufacturers to scale up and create jobs.

“We’re excited by the new opportunities this initiative will provide to manufacturing industry,” ICNL Chairman David McLachan AO AO (Mil) said.

“We’re standing ready to be a part of the delivery of the associated programs and the delivery of benefits to the whole Australian economy.”

The initiative will support projects covering six National Manufacturing Priorities:

  • Resources technology and critical minerals processing
  • Food and beverage
  • Medical products
  • Recycling and clean energy
  • Defence
  • Space

Minister for Industry, Science and Technology Karen Andrews said the strategy reflected the lessons learned during the pandemic, as well as extensive work with industry before that.

“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.”

Since ICN began in 1984, it has helped Australia business win more than $30 billion in work packages in large and small projects both locally and globally.

“Our consultants across the country work relentlessly to support local SMEs and maximise opportunities for them,” David said.

ICN encourages businesses to subscribe to ICN Gateway to receive alerts of newly listed projects and work packages.