New mRNA facility delivering a healthy dose for the economy

A new report has highlighted the huge economic and health benefits of Victoria’s mRNA sector.

Australia’s mRNA Advantage – Jobs, Health and Economic Resilience is a new report by Oxford Economics, which was commissioned by biotech giant Moderna. It found Victoria’s partnership with Moderna provides a major benefit to Victoria’s economy, creating:

• almost 1,000 national jobs every year
• $220 million in Gross Domestic Product (GDP).

The report also highlights healthcare benefits for Victorians, as the Moderna Technology Centre in Melbourne (MTC-M) has the capacity to produce up to 100 million vaccine doses per year. This local vaccine production is strengthening Australia’s preparedness for future pandemics.

Being prepared for future pandemics is expected to save thousands of lives and avoid $4.8 billion in lockdown costs. Vaccine production at the MTC-M protects us from existing diseases. It's also strengthening the healthcare system in Australia and across the Indo Pacific. It is the Southern Hemisphere’s only end-to-end mRNA manufacturing facility.

Plus, during its 2-year construction period, the MTC-M contributed $493 million to national GDP and supported 1,830 jobs each year.

mRNA Victoria is developing a world-class sector in Victoria for the research, development and manufacturing of mRNA technology. Our state is the only place in the world where both mRNA global leaders – Moderna and BioNTech – have chosen to establish hubs.

Read the full report, Australia’s mRNA Advantage: Jobs, Health and Economic Resilience on Moderna's website.