Industry minister Ed Husic has been accused of “economic vandalism” over the decision to scrap $442 million in grants offered under the Collaboration stream of the Modern Manufacturing Initiative amid an already uncertain outlook for the local manufacturing sector.
As reported by InnovationAus.com earlier on Tuesday, only nine projects that were approved for co-investment under the former Morrison government program almost 18 months ago will go ahead as planned, leaving a further eight projects worth almost $1.5 billion to the economy without support.
Among the cancelled grants are space-related projects like the Fleet Space-led proposal for Australian Space Park in Adelaide, which has been in doubt for other reasons for several weeks, as well as Boeing’s Advanced Defence Aerospace Manufacturing Network.
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