Can Geelong become a hub of business innovation?

Geelong could be set to become a hive of business activity and innovative thinking, after the government announced that an Advanced Manufacturing Growth Centre is set to open in the city.

Prime Minister Tony Abbott outlined the $14.6 million facility during a visit to the region at the start of August. What will it mean for local business's development strategies? The centre will allow businesses in Geelong and the surrounding suburbs to better connect with like-minded companies from across Australia, and even some from further afield.

"The first task of the Advanced Manufacturing Growth Centre will be to develop a competitiveness plan. That will ensure that domestic businesses will be linked with exports and export opportunities," explained Sarah Henderson, Federal Member for Corangamite.

When he visited the region, Mr Abbott was particularly impressed with how the area has adapted from one reliant on the 'smoke stack economy', to an area full of thriving, high-tech companies and organisations.

"Rather than wallow in bad news the people of Geelong have been adapting and innovating. Amid the gloomy headlines, 3,600 more jobs have been created in this region in the last 18 months," the Prime Minister explained, as quoted by the Geelong Advertiser.

"This is really going to ensure that we can say to the nation, not just our region, that we are a very important centre of advanced manufacturing and going from strength to strength." Mr Abbott concluded.

So, what does the injection funding mean for business owners across the city and beyond? Well, they should be ready and braced for expansion. A sound business development plan is a must for entities across the manufacturing sector in particular.

As the raft of funding aims to nurture innovation right across Geelong, the funding could allow the region to not only survive, but thrive in the days and months to come.