Labor co-investment reaps rewards in Broadmeadows

The results of Labor’s support for strategic co-investment were on display today at the official opening of CSL’s $257 million Biotechnology Manufacturing Facility in Broadmeadows, Victoria.

Federal Labor and Labor State Government co-investment was instrumental in realising the project. In 2010, the Federal Labor Government committed $30 million to the project, and the Victorian State Labor Government almost $20 million.

Attending the launch, Shadow Minister for Higher Education, Research, Innovation and Industry Senator Kim Carr said the pharmaceutical industry was a phenomenal asset for Australia and the biotech industry was one of the great drivers of innovation. 

''It's an irony that this project was opposed by the Coalition when Labor was in government. It's an irony that the conservatives describe co-investment as corporate welfare but are only too happy to pose for the photo opportunity,'' Senator Carr said. 

''Co-investment of this nature would never have happened under an Abbott Government.”

''Unlike the Abbott Government, Labor backs strategic co-investment. In 2010 we recognised this was a fantastic opportunity for Australian jobs and Australian industry, and I congratulate CSL on this facility.'' 

CSL expects this co-investment to quadruple their manufacturing capacity and export potential, generating more than 240 highly skilled jobs. 

In the face of very stiff competition from overseas governments, Labor Government co-investment helped CSL retain and expand its manufacturing capabilities and jobs in Australia. 

This has huge implications for R&D and high-skill jobs in Australia, and cements CSL’s position in their global supply chain. 

It increases taxation revenue to the Government and is a foundation for further expansion. 

Unlike the Abbott Government, Labor does not view Industry programs as corporate welfare and something to slash and burn.

This is a government with no science policy and no science minister. They have no plan for innovation and no plan for Australian jobs. 

9 MAY 2014


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