In a significant boost to Australia’s manufacturing and construction industries, the Morrison Government has announced a new initiative designed to build momentum in the prefabricated building sector.
Minister for industry, science and technology Karen Andrews has announced that the government will spend up to $2 million to kick-start a new collaborative lab, which will help manufacturers design innovative prefabricated buildings that are more eco-friendly and affordable, and can achieve quicker turnarounds.
Prefabricated modular building involves creating modular homes and offices in a factory setting and then transporting them directly to site for assembly. The new lab will focus on a wide range of buildings, including tiny homes, larger houses and offices, and help strengthen Australia’s position in the global prefabricated building market.
According to Andrews, the prefab sector currently represents 3-5 percent of Australia’s $150 billion construction industry, a share that could grow to 15 percent by 2025, creating 20,000 new Australian jobs and adding $30 billion to the country’s economy.
The Advanced Manufacturing Growth Centre will receive up to $2 million in funding to undertake a feasibility study and establish a collaborative innovation lab.
The Coalition is already supporting leading research in this area, having allocated $4 million in funding to the Australian Research Council Training Centre for Advanced Manufacturing of Prefabricated Housing.
The latest initiative is part of the Morrison Government’s commitment to Australia’s advanced manufacturing sector, which is expected to boost the economy and create 1.25 million new jobs over the next five years.