NSW Becomes World Hub For Advanced Manufacturing
On 31st May 2018, the NSW Government launched a new strategy to transform the state into a global leader in Advanced Manufacturing.
NSW is home to several highly innovative, competitive and world-leading manufacturers that are vital to the strength and diversity of the Aussie economy.
NSW manufacturers produce nearly 30% of the country’s total manufacturing output, which generates around $33 billion in industry value.
The sector also accounts for almost one third of jobs country-wide, with approximately 253,000 people employed.
Embracing advanced manufacturing technology is vital for the ongoing profitability of the industry in NSW.
The NSW Advanced Manufacturing Industry Development strategy encompasses several initiatives to make NSW a hub for advanced manufacturing investment and exports, ensuring it can offer jobs of the future.
Niall Blair, Minister for Industry, explains that the strategy enables manufacturing businesses across the state to remain competitive and cutting-edge.
“NSW needs a strong manufacturing sector to unlock the opportunities the future holds. What matters most is not what a firm makes, but how they make it. This is what defines advanced manufacturing. We want to encourage NSW manufacturing firms to build on their significant strengths and excel on the world stage.”
NSW Advanced Manufacturing Industry Development Strategy
The NSW Department of Industry has consulted with manufacturing stakeholders in the state to develop the advanced manufacturing industry development strategy
Key insights from this strategy include:
- NSW manufacturers can gain a competitive advantage by focusing on value creation.
- Advanced manufacturing is about how you make it, not what you make.
- NSW manufacturers can take advantage of new opportunities to become more advanced, with every NSW manufacturer having the potential to be ‘advanced’.
- NSW manufacturers can access the state’s large, highly skilled, cost-competitive labour force to create value.