Victoria means Business

A strong, resilient manufacturing sector is vital to our economic future – one that creates jobs, drives innovation, and secures opportunities for all Victorians

During Australian Manufacturing Week in May, I was struck by the breadth and strength of Victorian manufacturing expertise on display.

Victoria is the home of Australian manufacturing and the leading manufacturing state, with a sector worth $36.9 billion and generating $25.6 billion in exports. Behind every dollar are skilled Victorian workers and local businesses – the engine room of our communities and economy.

Behind every worker is a family, and we are on their side.

The enduring strength of our sector is fuelled by ideas, innovation, and ambition and driven by more than 274,000 workers. In an era of rapid change and shifting global dynamics, there’s never been a more important time to keep pushing forward – opening secure, well-paid careers for Victorians.

The Victorian Industry Policy sets out a new direction for Victorian industry, backed by the Allan Labor government. It will build on our existing success and our competitive advantages and ensure that Victorian industry continues to remain competitive on the global stage.

We are advancing our manufacturing industry by driving technology adoption, boosting productivity, and helping workers and businesses upskill for the jobs of tomorrow. These innovations aren’t just making construction smarter – they’re creating high-tech manufacturing jobs right here in Victoria.

There are four key principles which underpin the policy.

The first is ensuring industry is equipped with the skills for an evolving economy. This means having a workforce with the right skills, agility and resilience to drive long-term job creation, productivity and economic growth.

To achieve this, the Labor Government is investing $459.3 million to continue building a connected, world-class training system to deliver the essential skills and specialist trades needed for our industries and economy to grow.

Secondly, we will work to grow our industrial base by improving the cost and ease of doing business and supporting industry to better adopt new technology and innovate.

Along with being essential to boosting our productivity and competitiveness, this will help unlock new development opportunities and improve the lives of every Victorian.

That’s why we’re backing Modern Methods of Construction, which includes advanced manufacturing techniques such as prefabricated construction.

Thirdly, the Labor Government will develop our emerging industries – especially those where we have a natural advantage – such as in critical minerals, offshore wind, defence manufacturing, and health technologies to name a few.

Through our Victorian Defence Vision Statement, we’re positioning the state to secure more defence opportunities which have flow on benefits to adjacent sectors.

Lastly, through the transition to net zero, we are securing the future of Victorian industry by ensuring access to affordable and reliable energy to remain globally competitive.

The Victorian Industry Policy provides the strongest commitment yet that the Victorian Government will ensure affordable and reliable energy supply, making sure industry remains globally competitive as we transition to net zero.

The recently released Gas Security Statement outlines the steps Victoria is taking to avoid the gas shortfalls forecast by the Australian Energy Market Operator (AEMO) for south-eastern states by 2029.

The statement confirms our reforms will deliver major gas savings, supported by more Victorians switching to efficient electric appliances and existing rules that require new homes to be all-electric – ensuring that more gas is reserved for use by industry.

Building on the four key principles, the policy focuses on accelerating the use of advanced manufacturing by driving technology adoption, boosting productivity, and helping workers and businesses upskill for the jobs and opportunities of tomorrow.

We’re backing this ambition with real investment – including the $150 million Victorian Investment Fund, designed to support business expansion across priority sectors and deliver more opportunities for Victorians.

Importantly, a dedicated $50 million stream will support regional communities, ensuring that the benefits of our growth are shared across the state.

These smart, future-focused investments are positioning Victoria as a global leader in high-value manufacturing.

Because when it comes to creating jobs, powering innovation and leading the nation in manufacturing, Victoria means business.