South Australian manufacturing industry to see massive funding boost

South Australia’s manufacturing industry is getting supercharged, as the state’s government launches the first round of its $122 million Economic Recovery Fund.

The fund is focused on manufacturing innovation and will help accelerate South Australia’s Advanced Manufacturing Strategy.

This funding is critical for the state, with manufacturing South Australia’s largest sector, with more than 6,700 businesses contributing an estimated 17 per cent of SA’s annual output, 25 per cent of business research and development and 20 per cent of exports.

“The Advanced Manufacturing Strategy responds to a rapidly shifting global dynamic where decarbonisation, geopolitical uncertainty, new technologies and disrupted supply chains will continue to present challenges and opportunities,” South Australian deputy premier Susan Close said.

SA’s ambitious advanced manufacturing strategy

“South Australia’s international leadership in renewable energy and investment in hydrogen production, together with increased global commitments to the 2015 Paris Agreement, create new manufacturing opportunities for premium low-carbon products like green metals, minerals, and fuels that capitalise on the global green transition.

“An increase in manufacturing activity will mean more South Australians in skilled, secure, well-paid work.”

South Australian treasurer Stephen Mullighan added that “an advanced manufacturing sector is vital for a smart, sustainable and inclusive future”.

“It means more jobs and a stronger economy.

“With national and international challenges upon us, now is the time to support our own.”

Applicants for the fund need to demonstrate the project will have a wider economic benefit, such as creating ongoing jobs, upskilling an existing workforce, improved productivity, access to new markets or the introduction of new products, services and technologies.