Labor is supporting growth and innovation in the state's defence industry.
Minister Brooks announced Corvus's new advanced manufacturing facility in Bayswater.
The state-of-the-art facility will create 49 highly skilled jobs.
The facility is producing in-arm suspension units for armoured vehicles. Local assembly in Victoria is expected to benefit the state's supply chain, valued at an estimated $45 million over six years.
Thanks to a technology-sharing agreement with leading South Korean company MNC Solution, Corvus will gain advanced manufacturing technology and expertise not currently available in Australia.
This will strengthen Victoria's sovereign capability.
Labor is supporting Corvus to establish its new facility and strengthen its capabilities.
Support has been provided through the Supply Chain Investment and Supply Chain Uplift Programs, which are part of Labor's $10 million Victorian Land Systems Fund.
The fund is helping local businesses join Hanwha's supply chain, driving growth in defence manufacturing.
Each year, the defence sector generates $10.9 billion in direct annual expenditure and $1.7 billion in exports.
The industry supports 29,000 local jobs.
As stated by Minister for Defence Industry Colin Brooks
"We are proud to invest in our defence supply chain - creating jobs and generating economic growth."
"This is a strong vote of confidence in Victoria, all while creating highly skilled jobs across the state."
As stated by Corvus Technology Solutions CEO Nick Williams
"This facility represents a significant step forward for Corvus and for Victoria's defence manufacturing capability."
"What we are celebrating today is not only a new site, but the establishment of real defence capability in Victoria - built through strong collaboration with our South Korean partners, supported by local expertise, and focused on delivering advanced defence technology."
"It also reflects our ambition to contribute to larger defence programs by bringing together local manufacturing, trusted international partnerships and laser focus on sovereign capability."
