Government announces plan for innovation precincts

20-Feb-2013

The Australian Federal Government has announced the creation of 10 innovation precincts throughout Australia to connect industry, companies, universities, research institutions and experts in technology and business.  The precincts are part of the Government’s A Plan for Australian Jobs policy.

The aim is to increase the number of Australian companies competing in world markets by building more medium-sized Australian firms.

The first two of the precincts will be created in Melbourne and Adelaide and focus on the manufacturing and food industries.  The manufacturing precinct is intended to help manufacturers upgrade skills and technologies, improve competitiveness and create new advanced manufacturing jobs.  The food precinct is intended to build the critical mass, business capability and export readiness of Australia’s food value chain.

The remaining precincts will be selected from bids led by industry.

The cost of the project is estimated at more than $500 million, although the outcome of the upcoming election will ultimately determine whether or not the project proceeds.

The complete A Plan for Australian Jobs policy can be read at www.aussiejobs.innovation.gov.au.

By Leanne Oitmaa