Industry Minister Ian Macfarlane said the precinct would help turn Australia's scientific research and innovation into practical solutions.
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"Creating stronger relationships between science and industry and boosting the rate of collaboration between business and research will be essential to maximise our productivity and economic growth in the decades ahead."
Science hub: An artist's impression of the planned Black Mountain facility. Photo: Supplied
He said it would make Australia more competitive on a global scale and particularly in Asia, where demand for food was growing rapidly.
