Australian biotech survey shows advanced manufacturing heading overseas
The annual Australian Biotechnology Industry Position Survey (2014) shows a worrying trend: advanced manufacturing associated with this industry of the future is following traditional manufacturing and there has been a sharp increase in the number of companies heading overseas, the trade group AusBiotech warns.
The survey showed 73% of respondent companies are manufacturing: 44% in Australia and 54% overseas (with a cross over of 25% that manufacture both in Australia and overseas), prompting calls for further tax reform to enable Australia to be internationally competitive.
The survey, conducted by AusBiotech and supported by Grant Thornton Australia, saw a slight rise from last year in the number of companies manufacturing, in addition to a clear shift to more companies manufacturing overseas, now 54% up from the 36% recorded in 2013.
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