Pharmaceutical company GlaxoSmithKline will invest $60 million into its Boronia site and create 58 new jobs by 2017.
Site director Troy Webb said the development was a unique opportunity for scientific innovation that would put Victoria on the map.
The $60 million will fund new 'blow-fill-seal' technology, and support the creation of a pilot scale industrialisation building.
State Technology Minister Gordon Rich-Phillips said GSK planned to make the Boronia plant accessible to local companies for contract manufacturing.
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