Former Holden site earmarked for innovation precinct

THE Victorian state government has committed to investing $179.4 million into stage one of the Fishermans Bend Innovation Precinct, which is expected to generate thousands of new jobs.

Set in the centre of the 230-hectare Fishermans Bend Employment Precinct, the CBD-edge precinct transformation will enable global innovation in advanced manufacturing, engineering and design in Victoria.

Stage one of the development will take place at the 32-hectare former General Motors Holden site, which sits just four kilometres from Melbourne’s CBD and will include the installation of infrastructure and services.

“The old Holden factory is part of Victoria’s manufacturing history. This important first step will help transform it into Victoria’s manufacturing future,” said Martin Pakula, minister for business precincts.

Pakula was assigned to the development board in October of last year, after the urban renewal project was reappointed by the government.

In delivering the first stage of precinct, as many as 300 people will be employed at once, with almost 700 indirect jobs also being supported. It is expected that the stage will enable the developable land to support as many as 2,000 jobs by 2024.

Additionally, by 2051, it is predicted that the precinct will be able to support up to 30,000 jobs STEM jobs. The precinct will also work in collaboration with the University of Melbourne which will in 2024 establish its School of Engineering in Fishermans Bend.

The Fishermans Bend area as a whole, as one of Australia’s largest urban renewal projects, will, at 480-hectares, be home to approximately 80,00 people and jobs by 2050.

The Vegemite factory at 1 Vegemite Way in Fishermans Bend, is among a number of iconic industrial sites across Melbourne which is currently seeking heritage protection, following a review of the historical significance of the area.

With the former General Motors Holden site, which was purchased by Development Victoria in 2017, establishing operations in the 1930s and in the 1940s delivering Australia’s first ever mass-produced vehicle in the FX Holden.

“We’re creating the foundations for a world-leading hub for ideas, innovation and 21^st century industry – it’s an investment in jobs and the people of Victoria,” concluded Pakula.