Advancing all Australian manufacturers
23 October 2017
A new industry-led report into Australia’s manufacturing sector has highlighted the opportunity for all firms to move towards advanced manufacturing by adopting more sophisticated business models and production techniques.
Acting Minister for Industry, Innovation and Science, Senator the Hon Michaelia Cash, welcomed the report, Advanced manufacturing: a new definition for a new era, released today by the Advanced Manufacturing Growth Centre, part of the Australian Government’s Industry Growth Centres initiative.
“Manufacturing has played a major role in contributing to Australia’s stellar economic performance over the past 25 years,” Minister Cash said.
“However in order for Australian manufacturing to continue to succeed domestically and globally, it must evolve and diversify.”
“Today’s report emphasises that the continued growth of the sector is dependent upon manufacturers innovating, moving up the value chain and embracing production efficiencies in order to develop new products and serve new markets.”
“Every single manufacturer has the potential to be advanced. I encourage all Australian manufacturers to examine their business models and look at where they can emulate the practices of globally successful firms.”
The next chapter of Australian manufacturing revolves around a sector based on smart people, smart production, quality customer service and the continual search for products that add high value.
“We’re already moving in this direction, and the Government is committed to maintaining the momentum,” Minister Cash said.
The Turnbull Government recently announced the $47.5 million Advanced Manufacturing Growth Fund, which is designed to support investment in advanced manufacturing projects in Victoria and South Australia as part of the $100 million Advanced Manufacturing Fund, announced in the 2017-18 Budget.
Other measures include the Entrepreneurs’ Program and the Research and Development Tax Incentive, which enables individual companies to invest in research and development, and provide advice and assistance to develop and commercialise new ideas and products.
The Advanced Manufacturing Growth Centre is part of the Government’s Industry Growth Centres initiative, which is designed to improve the productivity, competitiveness and innovative capacity of industry sectors of strategic priority in the Australian economy.
The report, Advanced manufacturing: a new definition for a new era, is available at https://www.amgc.org.au/advanced-manufacturing-new-definition
Media Contact: Minister Cash's office 02 6277 7320