KPMG Enterprising Cities report reveals manufacturing boom in Geelong
A KPMG report has revealed Geelong is experiencing a manufacturing boom — but not everyone is happy about the increase in employment.
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New research has revealed Geelong is in the midst of a “manufacturing renaissance” — however, one local community group has strong concerns about its implications.
KPMG’s Enterprising Cities report found advanced manufacturing, which is the production of “highly technical componentry” that requires specialist skills to make, was one of the main sectors leading employment growth in the region.
In 2024 alone, there were 1800 advanced manufacturing jobs created in Geelong — doubling the 1700 created between 2019 and 2023.
KPMG Geelong boss Paul Robson said asurge of industrial activity had helped draw in a range of companies, including defence contractors, to the area.
“Geelong has a proud manufacturing history, so to see a strong resurgence in this area is very positive for the local economy,” he said.
“It is different to the traditional manufacturing that Geelong was known for, like the large volumes processed at the Ford factory by a large blue collar workforce.”
However, some have expressed concern at the shift toward defence manufacturing.
Jaimie Jeffrey is the co-convener for the Geelong branch of the Independent and Peaceful Australia Network (IPAN).
“Now, all these little companies who have never bid for defence contracts before are getting in on the supply chain and the gravy train … instead of producing more socially beneficial advanced manufacturing,” she said.
“Parts are being made in Geelong for the F35 strike fighters that are being used to bomb Gaza.”
Ms Jeffrey said Corio MP Richard Marles was playing a large hand in attracting military companies by using his position as Defence Minister.
“He is driving defence manufacturing in Geelong to make it the weapons manufacturing hub in Victoria,” she said.
“It means that the Geelong economy is becoming dependent on war effectively.”
The report stated the trend would continue upward, with the number of job ads for trades and machinery operators in 2024 twice as high as in 2020.
Unlike in the past, however, the local economy is no longer heavily reliant on the manufacturing sector.
A number of other industries, including hospitality, financial services, healthcare, and construction, have also bloomed in quick fashion.
Between 2019 and 2024, there were 10,000 new healthcare jobs added to Geelong.
And in 2024, more than 3000 people were hired in the hospitality industry — the most that year.
Mr Robson said this “diversifaction” had seen the city “mature” into a vibrant hub that has great capacity for “future growth”.
“Geelong is no longer a gateway city that people drive through to get to the Surf Coast; it’s a destination in its own right,” he said.
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Originally published as KPMG Enterprising Cities report reveals manufacturing boom in Geelong
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