Government announces $2m in funding for new pre-fab innovation lab

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The Federal Government has announced funding support for the growing prefabricated building industry which could end up creating thousands of new Australian jobs by 2025.

The prefabricated modular building industry includes modular houses and offices created in a factory setting and then transported directly to site.

It is anticipated to grow to 15 per cent by 2025, potentially creating 20,000 new Australian jobs and adding $30 billion to the country’s economy.

Minister for Industry, Science and Technology Karen Andrews said up to $2 million will be spent developing ‘a new collaborative lab’ to help manufacturers design innovative new prefabricated buildings that are more eco-friendly, affordable and can significantly reduce times for construction.

“This sector is starting to build significant momentum and currently represents 3-5 per cent of Australia’s $150 billion construction industry,” Minister Andrews said.

“The Morrison Government is committed to helping support and grow this emerging industry and ensure Australia seizes this opportunity.”

The project will commence with the Advanced Manufacturing Growth Centre undertaking a feasibility study based on which the new collaborative innovation lab will be established.

Image credit: https://www.industry.gov.au/

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