The dedicated division aimed at attracting national and global investment into South Australia has helped funnel $1 billion into the State – and that’s just in its first year.

Invest SA was brought back as part of a Malinauskas Labor Government election commitment funded in its first budget, following the former Liberal Government’s short-sighted decision to scrap the division.

The $1 billion of investment generated over the 2022-23 financial year included significant economic growth outside of the traditional defence, mining and energy sectors, with creative industries, hi-tech, space, food, wine and agribusiness fuelling investment outcomes.

A third of this investment came from non-traditional sectors, which also comprised 1,724 of the 4,314 forecast jobs created through Invest SA’s support.

The agency was tasked with putting South Australia on the global radar and sending a clear message the State is open for business – and the best place to invest.

Invest SA continues to build the State’s global network, growing its connections with critical industry and research partners to fast-track investment opportunities.

Since being established in June last year, Invest SA has been instrumental in:

*Supporting Iron Road Ltd’s green hydrogen project and lead developer Amp Energy as part of the multi-billion-dollar hydrogen precinct at Cape Hardy.

*Facilitating a $15 million investment with Kongsberg Defence Australia for a purpose-built facility in Technology Park which will be home to hardware manufacturing and assembly and developing software for defence programs.

*In conjunction with the South Australian clinical trials ecosystem, supported GEXVal’s successful capital raise of $14 million, which enabled it to commence a Phase 1 clinical trial in Australia with a number of South Australian Partners

*Finalising the deal for a $12.5 million hydrogen production facility in Bolivar – a partnership between Japan’s Ministry of the Environment and Japanese company Marubeni will see low-cost green hydrogen created from renewable resources, which can then be transported from South Australia to Indonesia.

*Keywords Studios establishing its office in Adelaide – the first triple-A global video gaming company to be based in South Australia – followed by global gaming giant Big Ant Studios opening its own studio on Franklin Street.

*Epicurean Food Group expanding into the former GM Holden factory site to enable the production of more than 20,000 tonnes of exotic mushrooms and mushroom products each year, employing 350 full-time staff.

*Expansion of Deloitte with their Innovation and Technology Hub entering its second phase which will see 1,000 people employed when completed.

*Establishing an office for UK-based Surrey Satellite Technology Ltd (SSTL), its first office in the Southern Hemisphere.

*Attracting Azure Quantum Week to South Australia, in partnership with KPMG, TCS and the Office of the South Australian Chief Scientist.

*Supporting South Australian companies’ presence at Fuel Cell Expo 2023.

*Launching the Indo-Pacific Carbon Accounting Lab (IPCAL) at the United Nations Climate Change Conference, COP27 in Egypt.

*Attracting European defence company MBDA, a world-leader in the field of guided weapons and missile systems, to establish a presence in South Australia.

*The Santos and Osaka Gas Pre-FEED Agreement for a demonstration-scale project to produce carbon neutral e-methane from green hydrogen.

*Hosting the UK and French space missions at Avalon Airshow – a global business and defence event attracting aviation, aerospace, space and military and government decision-makers from around the world.

*Supporting South Australian companies at Arab Health which brought together key stakeholders to collaborate and make healthcare a more sustainable, positive-impact industry.

*Showcasing South Australia’s strengths in agritech at evokeAG, the Asia Pacific’s premier agrifood tech event which attracted the entire ecosystem of farmers, innovators, researchers, corporates, government and investors.

In November 2023, Invest SA will host – in partnership with Business SA and South Australia’s Chamber of Commerce and Industry – the first ever India Horasis Trade and Investment Summit, attracting 250 India business leaders to the State to see first-hand South Australia’s competitive advantages and investment opportunities.

The Invest SA website has also been enhanced to provide a better user experience and a portal to support local industries, while providing an avenue for South Australians seeking investment-ready projects to global investors.

The website features the newly launched Invest SA logo and branding, which serves as a recognisable icon for potential investors looking to South Australia for their next investment opportunity. The updated site also highlights industry sectors that are experiencing economic growth and attracting attention worldwide.

Visit the new Invest SA website: www.invest.sa.gov.au

Quotes

Attributable to Nick Champion

Our commitment to re-establish Invest SA was implemented quickly, because we recognise the importance of attracting investment to our state, growing our economy, and placing SA on the global stage.

Invest SA acts as a beacon for those wanting to engage with South Australia’s key economic growth government agency – and the long list of outcomes already achieved reflect its success.

South Australia has a strong reputation in green and renewable energies, defence, space, cyber, advanced manufacturing, premium wine and produce right across its export markets.

We want to make sure those key offerings are known across the globe and that we are the best place in the world to invest.

Attributable to Invest SA Executive Director Chris Wood

Our results this year show we have been able to attract significant investment across a broad range of sectors and this will help bring new and exciting projects to further develop our economy and make it more resilient.

Importantly we’re growing opportunities for the state by supporting local, national and international investment into South Australia. We are developing strong links with major equity firms, like Morgan Stanley and Blackstone, to assist local South Australian businesses attract capital, while also supporting infrastructure development in cooperation with a range of State and Federal Government departments.

It is an incredibly exciting time for the state, and we are looking forward to playing our role in delivering generational benefits for South Australians.