In a big decision that was pending since long, Prime Minister Malcolm Turnbull has announced $20 million to be done in 21 projects in the region of Geelong. The project will give a boost to carbon fiber manufacturing in Australia as this is the first project in Australia in this field.
The project revolves around commercial carbon fiber manufacturing facility and a Great Ocean Road ecotourism venture. The project is among the 21 Geelong projects by the federal government. These are expected to create 1200 jobs, 600 jobs to be created during the construction phase while 600 jobs once the project is completed and work is done in full swing. The Geelong region has become the first to get a funding under the program by the federal government of $220 million Regional Jobs and Investment pilot program.
The projects under this program have been selected after careful screening keeping in mind what will boost the growth of Australian economy. A widespread project by the federal government, the project includes Australia’s first commercial carbon fiber manufacturing facility, an ecotourism facility on the Great Ocean Road, a new additive manufacturing and engineering center at Geelong’s innovation precinct, and future investment in Geelong’s waterfront.