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Liberals propose $1 billion fund to bring manufacturing home to Victoria

Liberals propose $1 billion fund to bring manufacturing home to Victoria

The Liberals are today proposing a $1 billion ‘Bringing Manufacturing Home’ fund to encourage
businesses to bring facilities and jobs back to Victoria, grow local manufacturing and boost
innovation.

The Bringing Manufacturing Home Fund would prioritise support for industries of national importance
such as PPE manufacture, defence procurement and rare earths processing.

The proposed Fund would provide support for businesses seeking to relocate manufacturing facilities and jobs back to Victoria. It would also support existing Victorian manufacturers to expand, as  well as supporting innovation, research and development.

Over the past 20 years more than 50,000 Victorian manufacturing jobs have been lost. A COVID-19 response is urgently needed to create jobs and boost the economy.

The COVID-19 pandemic has exposed holes in the national supply chain with an overreliance on a number of countries for provision of essential supplies such as personal protective equipment (PPE).

The Bringing Manufacturing Home Fund adds to a number of polices announced by the Liberal Nationals to get Victoria back to work and back in business following the economic fallout of COVID-19.

Comments attributable to Brad Battin MP Liberal State Member for Gembrook:

“Victoria has a real opportunity to create thousands of new jobs, attract millions-of-dollars of  investment, while regenerating our own capability to produce critical supplies that we’ve otherwise lost to overseas – and communities like Casey and Cardinia could really benefit from this.

“Victoria used to be the manufacturing heart of Australia. We now have the opportunity to bring manufacturing home to Victoria – where it belongs”.

“We need to back local businesses to deliver the jobs and investment that Victoria so desperately needs.”

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