More capital investment in the sector Growth in the sector’s contribution to Victoria’s Gross Value of Production Growth in exports, including a higher proportion of value added exports More businesses with an annual turnover exceeding $25 million More skilled jobs created in the sector. Victorian Government Programs There are a range of programs which will support and complement delivery of the Transport Technologies sector strategy. Future Industries Fund The $200 million Future Industries Fund will support implementation of the Government’s high-growth sector strategies, including a significant grants program. Regional Jobs and The $500 million Regional Jobs and Investment Fund is providing Investment Fund funding for targeted regional infrastructure, jobs and community projects. Premier’s Jobs and The $508 million Premier’s Jobs and Investment Fund will support Investment Fund strategic investments that underpin high-quality, sustainable jobs throughout Victoria. This also includes the $60 million LaunchVic Initiative to encourage the formation and success of innovative new businesses. Victorian Industry Each year, the Victorian public sector spends more than $10 billion on Participation Policy procurement activities from goods and services to construction. The Victorian Industry Participation Policy requires government agencies to consider competitive local suppliers when awarding government contracts. For government procurement projects valued at $50 million or more, minimum local content requirements are set that must be satisfied. The Government has committed to using at least 50 per cent local goods and services on Victoria’s new fleet of 37 high-capacity metropolitan trains, which supports local businesses and grows local jobs. Towards Future Industries: This plan includes: Victoria’s Automotive Transition Plan $33 million Local Industry Fund for Transition to boost economic development in areas most impacted by the transition of the automotive industry $8.4 million South-East Automotive Transition skills program to strengthen training and job search support in Melbourne’s South-East $5 million Automotive Supply Transition Program to support automotive suppliers transition into new markets.
More capital investment in the sector Growth in the sector’s contribution to Victoria’s Gross Value of Production Growth in exports, including a higher proportion of value added exports More businesses with an annual turnover exceeding $25 million More skilled jobs created in the sector. Victorian Government Programs There are a range of programs which will support and complement delivery of the Transport Technologies sector strategy. Future Industries Fund The $200 million Future Industries Fund will support implementation of the Government’s high-growth sector strategies, including a significant grants program. Regional Jobs and Investment Fund The $500 million Regional Jobs and Investment Fund is providing funding for targeted regional infrastructure, jobs and community projects. Premier’s Jobs and Investment Fund The $508 million Premier’s Jobs and Investment Fund will support strategic investments that underpin high-quality, sustainable jobs throughout Victoria. This also includes the $60 million LaunchVic Initiative to encourage the formation and success of innovative new businesses. Victorian Industry Participation Policy Each year, the Victorian public sector spends more than $10 billion on procurement activities from goods and services to construction. The Victorian Industry Participation Policy requires government agencies to consider competitive local suppliers when awarding government contracts. For government procurement projects valued at $50 million or more, minimum local content requirements are set that must be satisfied. The Government has committed to using at least 50 per cent local goods and services on Victoria’s new fleet of 37 high-capacity metropolitan trains, which supports local businesses and grows local jobs. Towards Future Industries: Victoria’s Automotive Transition Plan This plan includes: $33 million Local Industry Fund for Transition to boost economic development in areas most impacted by the transition of the automotive industry $8.4 million South-East Automotive Transition skills program to strengthen training and job search support in Melbourne’s South-East $5 million Automotive Supply Transition Program to support automotive suppliers transition into new markets.
Transport-Technologies-strategy-accessible-20160310.docx