Labor promises $100m manufacturing innovation fund

The Labor Party has pledged to invest up to $100 million in a network of centres to foster innovation in Australian manufacturing businesses if it wins government.



Opposition Leader Kevin Rudd says five centres will be established in Sydney, Melbourne, Adelaide, Perth and Tasmania and one already operating in Queensland will be linked to the national network.

Mr Rudd says the plan will provide practical help to small and medium-sized manufacturers.

"Up to 3,000 manufacturing business will benefit from the program each year, becoming more productive, we hope, better able to compete in global markets, we hope, and able to take advantage of new business opportunities arising from the challenge of climate change," he said.

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