The Victorian Government is an active and enthusiastic partner with industry, creating pathways for new manufacturers to become established and to thrive.
Ongoing investment facilitation, government grants, programs and investments are matched by policy commitments to support local, low-emissions advanced manufacturing.
The Victorian Government’s collaborative approach with industry ensures the state will continue to be a world leader in advanced manufacturing.
We are well connected to the global economy and sit at the gateway to the Asia-Pacific market. Our global trade and investment connections support advanced manufacturers looking to establish operations in Victoria, and help manufacturers here expand into overseas markets.
The Victorian Government continues to make new investments to boost local manufacturing capability and support the growth of businesses in key sectors like health technology, food and defence.
The 2023/24 State Budget is investing $56 million, ensuring continued support for the growth of the manufacturing industry in Victoria including:
- $12 million to continue supporting our growing mRNA industry so more life-saving therapies can be discovered and manufactured in Victoria.
- $21 million to establish a Manufacturing and Industry Sovereignty Fund, providing grants to support the development, expansion and retention of Victoria’s strategic manufacturing capability. It will also support Victorian businesses to access the Commonwealth’s $15 billion National Reconstruction Fund.
- $15 million to establish an Industry R&D Infrastructure Fund to incentivise and leverage private industry investment in research and development and complement existing incentive settings such as the Commonwealth’s R&D tax incentive.
- $4 million to support Victoria’s defence manufacturing industry and supply chains that help in securing major defence contracts through advocacy, advisory and capability development.
- $4 million investment to ensure Ethical Clothing Australia can accredit and monitor more textile, clothing and footwear businesses to ensure compliance with strict fairness and safety standards, as well as providing new educational materials to ensure workplace safety.
The Smart Enough Factory program supports Victoria’s defence industry to modernise design and manufacturing processes.
Working alongside industry
The Victorian Government has a reputation for being collaborative, facilitating industry engagement and driving investment.
We work in partnership with industry, directly supporting advanced manufacturers in a range of areas: business introductions, site selection, permits and regulatory approvals, assistance with exports and supply chain connections.
Through strong policy settings, the Victorian Government is creating certainty to drive investment across the economy, including through Local Jobs First.
The Victorian Renewable Energy Target has established Victoria’s movement to net zero by 2050 while setting a 50 per cent emissions reduction target by 2030. These legislated targets will create opportunities for advanced manufacturing, research and innovation in the low-emissions space.
Invest Victoria is the Victorian Government’s investment attraction agency, fostering long-term economic prosperity by enabling business opportunities and job creation for the state.
A global outlook
Victoria continues to grow as an international leader in advanced manufacturing.
Victoria is a global leader in health technologies research and manufacturing, delivering a sector value add of $5.5 billion in 2022. We are also a global hub for advanced and sustainable food production, agri-food tech and innovation.
A growing number of leading multinationals have established operations in Victoria, including Moderna, Boeing, Mars Global, Nissan and Hanwha.
Through Global Victoria, we build the skills and knowledge of Victorian businesses to grow on an international stage. Our inbound and outbound trade mission programs, export capability initiatives and extensive international network of trade and investment offices (VGTIs) open the world to Victorian businesses and welcome the business world into Victoria.
Page last updated: 16 November 2023