New manufacturing jobs and investment in Geelong
More than 100 new manufacturing jobs will be created in the Geelong region by the first project to be funded under round one of the Australian and Victorian government's Geelong Region Innovation and Investment Fund (GRIIF).
Australian Minister for Industry Ian Macfarlane, Victorian Premier Denis Napthine, Victorian Minister for Manufacturing David Hodgett and Member for Corangamite Sarah Henderson on Tuesday announced the first grant of $5 million to Geelong business Carbon Revolution.
This grant will allow Carbon Revolution to undertake a $23.8 million project for a carbon wheel manufacturing facility that will supply the global automotive industry, the first of five projects to be funded under GRIIF, a tripartite agreement between the Commonwealth, Victoria and Ford.
The landmark project is expected to create up to 108 new full time jobs.
"This is good news for the Australian manufacturing industry and great news for Geelong," Macfarlane said while visiting the company's headquarters.
"This project shows the depth of the Australian manufacturing sector and is an example of the type of innovative and high-tech manufacturing that Australia can excel in, as the sector undergoes major transformation.
"The Geelong region has absorbed significant shocks in recent weeks and months, but these new investments are a show of confidence in the region and in the change of direction that is taking place in Australian manufacturing. While these changes are a challenge, they can be a positive turning point for industry and the catalyst for new investments and new jobs."
Carbon Revolution is the world's first commercial maker of carbon fibre automotive wheels, including the award-winning 'one-piece' wheel, an engineered product that represents the cutting edge in design and manufacturing with composite materials.
Macfarlane said: "We are partnering with both Victoria and Ford to help entrepreneurial local businesses like Carbon Revolution undertake new projects that will create jobs and opportunities over the next few years while this transition occurs."
"The Australian government knows that industry is the driver of business and a fundamental building block of our five-pillar economy. Our role is to provide a framework that will give Australian manufacturers, businesses and innovators the environment and the confidence to grow, create new opportunities and supply new domestic and global markets."
Dr Napthine said that Carbon Revolution was one of Geelong's many success stories with the local innovative business going from strength to strength.
"Carbon Revolution has a bright future here in Geelong making quality carbon fibre products for the automotive industry," Dr Napthine said.
"This strategic partnership builds on the positive work my government has already undertaken in providing Carbon Revolution with a previous grant of $250,000 leading to the creation of 20 new full-time jobs.
"These new investments in manufacturing show Victoria's capabilities in driving innovation in advanced manufacturing, food processing and services, and a wide range of industrial and consumer products," Dr Napthine said.
Hodgett said that this was the first of a number of projects which would help grow manufacturing jobs in the region.
"This investment in the company's new facility is the first project to be supported by the Geelong Region Innovation and Investment Fund, which will assist local businesses as they seek new opportunities and build on the state's strengths," Hodgett said.
Ford Australia president Bob Graziano supported the announcement and said "Ford is absolutely committed to transforming our Australian business, including supporting employees directly affected by our changes."
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