The Advanced Manufacturing Growth Centre (AMGC) has presented the economic impact of its 141 co-invested manufacturing projects in its 2022 Project Report.
AMGC highlighted its first 31 completed projects, emphasising manufacturing transformation and analysis of measurable industry impact.
The projects are expected to generate approximately $1.62 billion in additional revenue and the creation of 4,288 new jobs. This reflects a combined industry and government co-funded pool of $137.2 million in cash and in-kind.
According to the project report, a total of 430 new or upskilled roles have been established through completed manufacturing projects, while an additional $188 million in revenue was injected into the Australian economy through domestic and export sales.
The revenue represents an average return on investment of 9:1, based on a co-funding investment of $20.26 million.
AMGC’s portfolio includes a wide array of manufacturing talent present in Australia, with projects addressing local and global needs in the area of value add to resources, agriculture, forestry, and fisheries; transport; medical sciences; renewables, and low emissions technology; defence, space and, enabling technology – such as AI and robotics.
Its portfolio also encompasses smart show soles produced through additive manufacturing, green steel manufacture, high-performance electric motorbike, as well as Australia’s first locally manufactured lithium-ion batteries.
Jens Goennemann, managing director of AMGC, said the centre’s program successes serve as proof of the manufacturing industry’s readiness to invest, advance, scale, and export if highly targeted assistance is provided to businesses that seek to commercialise and scale.
“AMGC knows what works, where opportunities exist, and how we can generate returns from our highly targeted co-investments. We can manufacture amazing things in Australia, provided we focus on being better, not cheaper, that we add value to our abundant natural resources, and we embrace advanced practices and processes – our 2022 Projects Report is proof that we can do so much better than Australia’s current ranking of 91st in global complexity rankings,” Goennemann.
“Crucially, it [AMGC] has a focus on funding innovative projects that have the potential to make Australia’s manufacturing industry more productive and competitive, but might be in areas where companies may not have the capacity or expertise to tackle the task on their own,” Federal Minister for Industry and Science Ed Husic.
