Saturday, May 25, 2024

Defence centre of excellence flagged for Fishermans Bend

A new state-of-the-art defence centre of excellence is set to boost jobs in Victoria’s Fishermans Bend urban renewal development.

Minister for Industry Support and Recovery, Martin Pakula today announced that SYPAQ Systems would expand its Victorian operations and establish a Defence Autonomy Centre of Excellence, creating 280 high-value new jobs over five years.

“Global companies are choosing Victoria as the place to innovate and take the next big step in their journey,” said Minister Pakula.

“The growing concentration of advanced manufacturing business and high-skilled jobs in Fishermans Bend will build its own momentum as the old GMH site is transformed into a global hub of manufacturing and design.”  

He said the SYPAQ Centre of Excellence will develop innovative technologies and intellectual property related to autonomous systems and cyber security – spearheading Victoria’s competitive advantage within the defence sector and generating expenditure of $45 million annually when fully realised.

SYPAQ is a leading engineering company specialising in defence, national security and information technology that has become a leading industry participant since its establishment in Melbourne almost 30 years ago. Its mini drone has a diagonal span of 18cm, weighs 280 grams and has video and radio capacity that can be used for purposes including natural disaster response and monitoring of event crowds.

“We are excited about our prospects in Victoria and our ability to grow valuable jobs for Victorian workers – the opportunities available in Fishermans Bend will allow us to foster collaboration with other innovative companies and academia,” said SYPAQ Systems managing director, David Vicino.

SYPAQ Systems joins global firms including Boeing, Leonardo and Siemens in calling Fishermans Bend home.

Fishermans Bend is Australia’s largest urban renewal project, covering 480 hectares in the heart of Melbourne and set to be home to 80,000 people and 80,000 jobs by 2050.

The Labor Government invested $179.4 million in the Victorian Budget 2021/22 to support stage one of the Fishermans Bend Innovation Precinct development at the 32-hectare former General Motors Holden site – with remediation and new roads and services to create an investment-ready precinct in three years.

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