The Minns Labor Government’s plan to rebuild the state’s manufacturing industry will be boosted by a $2.3 million funding injection for the Industry Capability Network (ICN).
The funding delivers an election commitment to expand the ICN, enabling the organisation to support economic growth and create jobs by providing more supply chain matching services for NSW manufacturing businesses, particularly in Western Sydney and regional NSW.
The ICN supports local manufacturers by linking them to projects and improving their supply chain opportunities.
The funding boost will ensure more of the state’s businesses are front and centre for new projects and opportunities.
Restoring the state’s manufacturing industry is a key priority for the NSW Government, as well as ensuring the sector has the capabilities to deliver on the government’s priorities around transitioning to net zero and boosting housing supply.
The ICN, which celebrates its 40th anniversary this year, links projects and businesses through an online gateway database. It is supported by a network of industry specialists who ensure suppliers can grow their capabilities and ultimately achieve scale.
The NSW Government is committed to ensuring NSW is home to globally competitive industries that drive quality jobs and deliver a more resilient economy.
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Minister for Industry and Trade Anoulack Chanthivong said:
“The NSW Government is getting on with the job of rebuilding our local manufacturing sector, and today we’re delivering on our election commitment to expand the ICN, a vital service that increases opportunities for our local businesses.
“There are about 29,000 manufacturers in NSW, employing more than half a million people. We’re determined to ensure those businesses are supported to find new markets and grow their operations.
“The additional funding for the ICN means more businesses across the state will be linked to opportunities and projects to grow their capabilities and create more jobs.”
Executive Director of ICN NSW Ian Hudson said:
“We are thrilled to be able to grow our operations thanks to the NSW Government’s additional support.
“This will allow the ICN to expand its presence, particularly in Western Sydney and regional NSW, which are growing hubs for manufacturers.”
