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Published: 31 October 2018

The Victorian Government has released a new factsheet to provide an update on the progress being made as a result of its ongoing Future Industries Strategy.

One of Victoria’s priority industries is construction technologies, as well as medical technologies and pharmaceuticals, new energy technologies, food and fibre, transport, defence and international education and professional services.

Since November 2014, these industries have created over 150,000 new jobs – accounting for 44 per cent of all new jobs created in Victoria – and have contributed an additional $11 billion to the State’s economy.

Through the Future Industries Fund and other funding sources, the Government has invested in a range of industry development initiatives aligned to our Sector Strategies, as well as direct grant programs such as the Future Industries Manufacturing Program, Sector Growth Program
and the Boost your Business Voucher Program.

Through these Future Industries programs the Government has supported more than 300 businesses, directly creating around 1,500 new jobs, improving productivity and catalysing more than $150 million in new investment.

Importantly for the construction industry, the strategy and associated programs has supported the integration of Building Information Modelling on more government construction projects, including the Joan Kirner Women’s and Children’s Hospital. It has also expanded the adoption of prefabricated construction technologies in Victorian Government education, health and housing projects and community facilities.

Download the Future Industries Factsheet here