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Apathy Sends Biotech Jobs Offshore, Says CSL Limited (CMXHF.PK)



8/18/2014 8:03:22 AM

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The country’s largest biotechnology manufacturer, CSL, says government and community complacency puts Australia at risk of missing out on future jobs as companies invest where workers are more productive, tax rates are lower and governments are more supportive.

The $33 billion blood plasma and vaccine maker said Australia urgently needs a plan to become more competitive to attract investment. A $500 million plant, which will create 500 jobs, that CSL has decided to build in Switzerland is evidence of how Australia is already losing out, chief financial officer Gordon Naylor said.

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