The Territory Labor Government is accelerating innovation opportunities for manufacturers and has today announced an exciting new partnership that marks a first for the Territory.
The Gunner Government will invest $8.75 million over five-years with the Federal Government’s Advanced Manufacturing Growth Centre (AMGC) which will fast-track innovation projects and generate millions of dollars in co-investment.
AMGC is an industry leader connected with manufacturers, universities, research institutions and export hubs around the country.
It co-funds industry projects to lead to commercialisation, with a goal of driving innovation, productivity and competitiveness across Australia’s manufacturing industry.
The new partnership will fast-track research, pilot projects and commercialisation of advanced manufacturing opportunities in minerals processing, agribusiness and carbon across the Territory.
Successful applicants through the partnership will be required to match funding dollar-for-dollar.
This partnership will see:
- A permanent AMGC Territory Director appointed to build connections between local manufacturers and interstate research institutions and accelerate new opportunities
- AMGC establish an office in Darwin, which will house the dedicated Territory-based Director who will be supported by AMGC’s existing national team
- A competitive co-funded grant program for industry stakeholders which will be managed by AMGC
Over the past three years, AMGC has facilitated more than 340 national collaborations and co-funded over 80 industry projects, while creating more than 2,300 jobs across the country.
It has invested over $66.8 million of combined industry and Government funds into manufacturing projects, resulting in an estimated $1.2 billion in additional national revenue.
Today’s announcement delivers on the recommendations of the Territory Economic Reconstruction’s final report.
It will accelerate the creation of advanced manufacturing businesses, which will create more jobs for Territorians and bolster the local economy with new investment opportunities.
Quotes from Chief Minister, Michael Gunner:
“We are backing innovation and local business, because we know how exciting this space is for the Territory and for our economic comeback.
“We want to make things in the Territory, lock in more local projects and get them off the ground.
“This will lead to more jobs for Territorians, and higher paying ones at that.
“This announcement is Kickstarter on steroids – and it will turn Territorians’ ideas into reality.”
Quotes from AMGC Managing Director, Dr Jens Goennemann:
“The Northern Territory sits at the intersection of innovation and opportunity. AMGC believes that by leveraging the Territory’s rich natural resources and convenient access to international markets, the Top End has the opportunity to create smart jobs for Territorians and spur a new era of innovation and prosperity for the region.
“AMGC in partnership with the Gunner Government is committed to helping transform the Territory’s economy from being a lucky economy to a smart one, underpinned by smart companies manufacturing smart products and services with global relevance.
“Through encouraging collaboration, greater engagement with research institutions, and focusing on being better, not cheaper, Northern Territory-based manufacturers have a significant opportunity ahead of them and AMGC is here to drive that change.”