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Victoria to Match Synchrotron Funding

Press Release Number: 
Thursday, June 14, 2007

- From the Minister for Innovation -

The Treasurer and Minister for Innovation, John Brumby, today announced that Victoria would match the $50 million operating funding for the Australian Synchrotron promised in the Federal Budget.

In May, the Commonwealth announced it would provide $50 million over five years towards the running costs of the facility subject to it being matched by the State.

"Elsewhere in the world running costs are exclusively met by national governments, however the Commonwealth's contribution to meet half of the costs is welcome," Mr Brumby said.

"The Australian Synchrotron is the most significant piece of scientific infrastructure to be built in Australia for more than two decades."

"It is expected to contribute around $110 million a year to the national economy and lead to the creation of 2500 direct and indirect jobs."

Mr Brumby said the Victorian Government had provided $157 million towards the capital cost of the project with funding partners providing a further $50 million for the initial nine beamlines.

He said Australia would benefit enormously from the facility's capacity to speed up research and therefore development.

"The synchrotron will dramatically expand frontline research in key industry sectors such as biotechnology, minerals, advanced manufacturing and in areas such as medicine," he said.

"As I announced earlier this week, the Australian and New Zealand science community is already starting work on synchrotron projects critical the search for drugs to fight killers like Alzheimers and antibiotic-resistant TB."

The Australian Synchrotron will open to users from July, and will be the hub of a new high tech cluster of 21st Century businesses and research facilities.