20 November 2007

$20 million Innovative Regions Centre in Geelong: Turning ideas into jobs

Geelong Technology Precinct with the Federal Labor Candidate for Corangamite, Darren Cheeseman, and the Candidate for Corio, Richard Marles.

“This Centre will boost local economies and create new jobs in areas that have been left behind under the Howard Government – recognising that good ideas should be shared and no region should miss out on Australia’s prosperity,” Senator Carr said.

Despite 17 years of economic growth nationally, Geelong and its surrounding region, including the Surf Coast/Barwon, have higher than average unemployment levels – with some areas experiencing unemployment rates of almost 10 per cent.

“The Geelong region is facing pressure as a result of recent plant closures. It is vital that we do everything we can to help the region adjust and to make the most of its existing strengths in areas such as advanced manufacturing, food processing and textiles,” Senator Carr said.

The Innovative Regions Centre will offer direct support to small and medium sized businesses in this and other targeted regions, by providing access to:

• Benchmarking of business processes against best practice.
• Grants for technical assistance and process improvements.
• Help to find and adapt the latest Australian and international research, technology and organisational knowledge to improve their products and efficiency.
• Prototyping and testing facilities to turn ideas into products.
• Other companies that may be able to offer mentoring, private investment and business partnerships.
• Help to cut through red tape to access government programs, including export development grants and market intelligence from Austrade.

The Innovative Regions Centre will work with local business associations and authorities in up to five regions to build knowledge of its programs and identify region-specific strategies.

It will also build on successful experiences in Australia and overseas by providing seed funding to support region-specific strategies, such as business clusters and networks, which aim to boost the innovative capacity of local firms.

Projects funded by the Centre may seek to build connections that are primarily business-to-business or to improve links between businesses and universities, training providers or research agencies.

One of the first priorities for the Centre will be to seek proposals for projects aimed at:

• Ensuring the investment attracted to Geelong under the $24 million Geelong Investment and Innovation Fund is well integrated into the regional economy.
• Developing opportunities for existing businesses in the Surf Coast/Barwon to build innovation links, boost their productivity and competitiveness, participate in value chains and break into global markets.

Mr Cheeseman said: “Our manufacturing industries and the services that support them have a great record in innovation and provide a strong base for securing new investment and creating high wage, high skill jobs for the future.

“But businesses in the region are facing new challenges and governments need to work with local industry to help it adjust. The advice and grant funding available through this Centre will offer meaningful support to local businesses.”

Mr Marles said: “The Innovative Regions Centre will give local companies in all sectors better access to new technology, best practice business advice, export market intelligence and domestic and international supply chains.

“The projects supported by the Centre will build stronger connections between local companies, and between Geelong’s industrial base and our education, training and research institutions.”

The Innovative Regions Centre will also support a Mapping the Connections project in northern Adelaide, announced on 19 November 2007.

Other regions and projects supported by the Innovative Regions Centre will have to meet clear criteria, including:

• The region has higher than average unemployment and is experiencing adjustment pressure.
• The project has capacity to create jobs, develop the local economy or increase exports.
• The project improves business-to-business links and/or links between businesses and a local university, training provider or research agency.
• The project builds on regional strengths to diversify or add value to existing capabilities.
• Strategies or lessons learned can be applied in other regions.

Federal Labor is committed to showing national leadership in innovation policy, and this initiative builds on existing announcements – such as its $75 million Re-tooling for Climate Change grants program, to help small and medium sized manufacturers make their operations energy and water efficient and reduce waste.

“Only a Rudd Labor Government will provide the national leadership to foster innovative Australian industry in our regions and build high wage, high skill jobs for the future,” Senator Carr said.

 Senator Kim Carr

Labour Senator for Victoria

Shadow Minister for Industry, Innovation, Science & Research.