Albury-Wodonga is one Australia’s largest regional economies and a key area of regional growth for Victoria and NSW and strategically positioned between Melbourne, Sydney and Canberra.
Albury-Wodonga offers a significant breadth and diversity of employment opportunities for its residents and has significant capacity for continued population and industry growth.
The region’s natural resources, strategic location and connectivity on the Hume Freeway and Inland Rail corridor, strong digital infrastructure and access to quality providers are key enablers to the future economic growth in the region.
The manufacturing industry in Australia is undergoing significant change in line with global trends, with global cost competition and a shift towards advanced manufacturing including strengthening sovereign manufacturing, reducing supply chain vulnerability and increase resilience against global volatility. Advanced manufacturing technologies can help accelerate innovative manufacturers to grow production and capitalize on opportunities to become globally competitive.
The region has a growing manufacturing sector with four emerging areas of manufacturing focus: Defence, food, circular economy and steel fabrication. Albury-Wodonga is well-placed to grow in this area by capitalising on existing industry, local education providers, innovation and infrastructure and transport linkages into Victoria and NSW.
Presently there are a number of barriers to address in order to strengthen and grow the advanced manufacturing industries in the region including significant skilled and other work force shortages while there is improved opportunities for industry collaboration, research and development capabilities.