Victoria set to benefit from F-35 Joint Strike Fighter program

EXCLUSIVE: VICTORIA is set to reap the benefit of the nation’s F-35 Joint Strike Fighter program to the tune of up to 5000 jobs over the next two decades.

VICTORIA is set to reap the benefit of the nation’s F-35 Joint Strike Fighter program to the tune of up to 5000 jobs over the next two decades.

The first two of the Royal Australian Air Force’s multibillion-dollar fleet — billed as the “smartest fighter jet on the planet” — will be unveiled at the Avalon Airshow today.

A new economic analysis of the JSF fighter program forecast a $1.2 billion boost to the defence industry — predominantly in Melbourne — and an extra 6300 jobs nationwide by 2038.

Prime Minister Malcolm Turnbull will welcome the arrival of Australia’s first two jets, designed to strike enemies in the air and on the ground without being detected by radar.

The Coalition government’s decision to purchase 72 RAAF F-35 aircraft at a cost of $17 billion has attracted criticism. The plane’s development, with the US, Britain, Canada and other allies, has been beset by delays and cost overruns.

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Victoria is set to reap the benefit of the nation’s F-35 Joint Strike Fighter program to the tune of up to 5000 jobs over the next two decades.

United States President Donald Trump raised concerns the cost of the program, run by Lockheed Martin, was “out of control” and billions “can and will be saved”.

But Defence Industry Minister Christopher Pyne said the new fleet would provide unmatched capability for Australia’s air force and inject billions into local production of the aircraft, particularly in Victoria.

“Although work is spread across the nation, with 64 per cent of Australia’s Joint Strike Fighter production happening in Victoria there is no doubt the state is the hub for the production and maintenance of these aircraft,” Mr Pyne said.

A PricewaterhouseCoopers report, released today, plots the additional spin-off benefits to the economy of Australia’s involvement in the global program.

The first Royal Australian Air Force F-35A Lightning II arrives at Luke Air Force base in Arizona in 2015.

The first Royal Australian Air Force F-35A Lightning II arrives at Luke Air Force base in Arizona in 2015.

More than 30 Australian companies — including Moorabbin-based Marand Engineering, which specialises in engine trailers and vertical tailpieces for the jet — have shared in more than $800 million from the F-35 program.

Marand chief executive Rohan Stocker said his company had nearly 150 fulltime employees working on the project, and forecast more growth.

“A project like this has already created jobs for us but that continuing program will also sustain that growth into the future,” Mr Stocker said.

The report showed it had produced an extra $470 million annually to the Australian economy, and to date had created an extra 2400 jobs across the economy, growing to 5000 by 2023 and 6300 by 2038.

“As a result of its already strong position in the program, Victoria is poised be a big winner from this future growth,” Mr Pyne said.

The first Joint Strike Fighters will enter service in 2020.

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