NSW’s $2.3M funding initiative targets manufacturing sector expansion

The NSW Government’s strategy to revitalise the state’s manufacturing industry receives a significant boost with a $2.3 million funding injection for the Industry Capability Network.

This investment aims to expand the ICN’s services, enhancing its capacity to support economic growth and job creation by improving supply chain matching for local manufacturers, especially in Western Sydney and regional NSW.

Minister for Industry and Trade Anoulack Chanthivong emphasised, “The NSW Government is getting on with rebuilding our local manufacturing sector. Today, we’re delivering on our election commitment to expand the ICN, a vital service that increases opportunities for our local businesses.”

He further noted, “There are about 29,000 manufacturers in NSW, employing more than half a million people. We’re determined to support those businesses to find new markets and grow their operations.”

The funding will enable the ICN, which is celebrating its 40th anniversary this year, to enhance its supply chain services.

The organisation connects local manufacturers with new projects through its online gateway database and a network of industry specialists.

“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,” Chanthivong added.

ICN NSW Executive Director 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.”