ARM Hub Supports R&D Overhaul to Enhance Australia's Advanced Manufacturing Sector
ARM Hub endorses a government-commissioned review emphasizing the need for better alignment of Australia's R&D with industry demands. The review identifies fragmentation in the current system and recommends a production tax credit for advanced manufacturing linked to local R&D. It also suggests National Strategic Initiatives to support translation activities in AI, robotics, and manufacturing, along with data infrastructure improvements and reforms to the R&D Tax Incentive. ARM Hub advocates for workforce development to meet technological demands.
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ARM Hub supports the findings of a government review advocating stronger alignment between Australia's R&D system and industry needs. The review indicates that while Australia excels in research, it struggles to translate this into commercial outcomes.
Key recommendations include a production tax credit for advanced manufacturing stemming from local R&D activities and National Strategic Initiatives to facilitate the transition from research to market applications in technologies like AI and robotics. The review also calls for improved data infrastructure and reforms to the R&D Tax Incentive, potentially raising the minimum project expenditure threshold to AUD $150,000, which could affect smaller firms.
Workforce development is highlighted as essential for adopting new technologies. ARM Hub plans to engage with policymakers to implement these recommendations.
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