The Advanced Manufacturing Growth Centre (AMGC)’s 2022 Project Report, released on 13 October 2022, provides an overview of 141 manufacturing projects supported by the group and expected to generate a total $1.62 billion in revenues and 430 new jobs.
AMGC analysis indicates healthy returns: the 31 projects completed so far have had ROIs of 9:1, resulting in $188m in additional revenues from a combined co-funding investment of $20.26m.
AMGC Managing Director Dr Jens Goennemann says successes such as those detailed in the new report show Australian manufacturers’ readiness to invest to advance, innovate, commercialise and scale if targeted, timely, appropriately scaled help is available.
“AMGC knows …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,” Dr Goennemann said in a AMGC media release. “If the past two and a half years have taught us anything, it is that we are resourceful, we are resilient and we are innovative when we need to be, now we must be. By focusing on capability and what we do best, Australia has the potential to transform from being a lucky country to a smart country.”
Projects detailed in the report include manufacturing of ‘green’ steel; a high-performance EV motorbike; biomanufactured algae for food, agricultural and medical use and more.
Access the AMGC’s Project Reports 2022 here.
More about the Advanced Manufacturing Growth Centre
The AMGC was founded in 2015 under the Coalition Government as part of its Growth Centres initiative. It manages a portfolio of co-invested projects spanning resources; agriculture, forestry and fisheries; transport; medical sciences; renewables; low emissions technology; space; defence; and enabling technology, such as AI and robotics. Get more information here.
Source: Co-investment in Australian manufacturing drives real growth I AMGC media release, 13 October 2022