The Hon Stephen Jones MP

Assistant Treasurer

Minister for Financial Services

Member for Whitlam

Alison Byrnes

Member for Cunningham

Carol Berry

Candidate for Whitlam

Media Release

Monday 24th February 2025

On Friday night here in the Illawarra, Prime Minister Anthony Albanese announced an overhaul of local content requirements to support Australian steel and drive new jobs in clean energy manufacturing, starting with wind tower fabrication.

Each wind turbine requires hundreds of tonnes of steel, and with over 10,000 locals in the Illawarra employed in the steel sector and associated industries, why shouldn’t that be from Port Kembla?

As the Prime Minister said on Friday night, “Local content requirements – the requirement for governments to buy local – must be stronger and work better.”

We will work directly with the States and Territories, businesses and unions on new ambitious targets for local content, ensuring that Australian-made materials are at the forefront of major infrastructure projects.

Because we want local content to become the national standard.

With a $500 million investment from Future Made in Australia Innovation Fund, Australian manufacturers will be able to receive the support and resources they need to scale up and capitalise on the growing clean energy sector.

The Albanese Labor Government is committed to Australian steel and manufacturing, and we are determined to see the Illawarra maintain a leading role in the future of clean energy and advanced manufacturing.

Australia’s shift towards renewable energy is accelerating. Last year we saw record-breaking investments in clean energy and increasing demand for renewable energy infrastructure, with our government approving a record 70 renewable energy projects which would power more than 8 million Australian homes.

Through the Australian Renewable Energy Agency (ARENA), the Innovation Fund will provide merit-based grants to manufacturing projects, including those that develop expertise in wind tower steel fabrication and related industries.

Additionally, funding may be allocated to the production of clean energy technologies such as:

• Battery and storage solutions
• Hydrogen electrolysers
• Energy efficiency and electrification technologies
• Critical components for the clean energy transition, including cables

This marks the first phase of the broader $1.75 billion FMIA Innovation Fund, from our $22.7 billion Future Made in Australia Plan.

With its strong industry connections and proven track record, ARENA will support the commercialisation of these emerging onshore manufacturing capabilities. Further funding announcements will be made soon.

The government is also investing in Australia’s future as a green iron manufacturing leader through the $1 billion Green Iron Investment Fund. This initiative will support early mover projects and drive private investment to scale up green iron production. At least $500 million will be available nationwide for both existing and new facilities to enhance Australia's iron ore industry and add more value locally.

The Illawarra has long been a cornerstone of Australian industry, and under an Albanese Labor Government, it will remain a leader in the nation’s clean energy transformation.

Quotes attributable to Federal Member for Whitlam, Hon Stephen Jones MP:

“The contrast could not be clearer—while the Labor Government is investing in Australian workers and industry, Peter Dutton and the Liberals have no plan to support Australian manufacturing.”

“The choice is clear: Labor backs steelworkers and manufacturing, while Dutton offshores jobs.

We're investing in local steel production and jobs because strong steel means a strong Australia."

Quotes attributable to Federal Member for Cunningham, Alison Byrnes MP:

“The Illawarra has been built on steelmaking, providing stable jobs for generations. Our government is determined to secure that legacy by strengthening local content requirements and creating new opportunities in green metals and clean energy manufacturing.”

“Over the past three years, we’ve put our Future Made in Australia strategy into action. Now, we’re focused on bringing its benefits directly to workers and communities—including those in the Illawarra,”

“We are committed to investing in training and apprenticeships to equip Australians for the jobs of tomorrow by bolstering fee-free TAFE and cutting Student Support Loans.”

Quotes attributable to Candidate for Whitlam, Carol Berry:

“The Albanese Government is backing in Australian steel and local jobs to build the infrastructure of the future.

“Peter Dutton’s nuclear energy plans will deliver nothing for our region – if anything Peter Dutton will cost this region jobs with his plans to slash 36,000 jobs from the public service.

“I’ll fight to keep all local jobs secure, including jobs at the Port Kembla steelworks, if I’m fortunate enough to be the next Member for Whitlam.”

[END]

Media Contacts:

Georgia Roff (Jones) 0428 160 565

Frances Kerkham (Byrnes) 0422 658 960

Ailis Quinn (Berry) 0479 163 327