The NSW Government has signalled its intention to have a ‘hi-tech’ Defence industry technology hub built in the Macquarie Park district of Sydney.
The initiative sees the NSW Government offering land valued at approximately $50 million on an up-to 50 year lease as a means of stimulating the creation of jobs for the state.
“The ability to simultaneously increase overall employment opportunities for NSW residents and grow the existing level of hi-tech industry in NSW is a primary driver in the decision to focus on a Defence Industry Technology Hub as opposed to offering the site for other potential uses,” documents on the initiative read.
The initiative will also foster collaborations between Defence, large prime contractors, SME’s, research organisations and other institutions to grow the Defence and related hi-tech industry in NSW.
The Macquarie Park area is already a hub for technology companies and includes campuses and offices from the likes of Microsoft, Cisco, CSC, the CSIRO, Oracle and Nortel Networks.
According to the Government, the Defence technology hub would attract companies who develop defence systems, electronics, avionics, aerospace design and related advanced technologies.
“The Government seeks tenants for this site who are capable of developing a deep collaboration with SME’s and universities to accelerate our State’s knowledge base, attract investment that delivers high tech projects and further builds NSW’s competitive advantages,” the documents read.
The initiative is in line with announcements from the NSW Government last year that it was targeting growth in the State’s Defence industry to capitalise on “the billions of dollars of Commonwealth spending, and international operations, planned in coming years”.
Last year the NSW Government announced its intention to attract 30 per cent of Australia’s total in-country Defence expenditure within a decade, and create an additional 1,500 Defence related jobs in NSW within four years.