Business and Skilled Migration

Ms DIGANCE (Elder) (14:43): My question is to the Minister for Investment and Trade. What outcomes have been achieved for South Australia under the state's business and skilled migration nomination program for 2014-15?

The Hon. M.L.J. HAMILTON-SMITH (Waite—Minister for Investment and Trade, Minister for Defence Industries, Minister for Veterans' Affairs) (14:43): I thank the member for Elder for her question. She comes from a very multicultural electorate big in small business. Apart from cutting taxes and reducing WorkCover fees, the government is also looking to improve outcomes for businesses through skilled migration. The state's migration program contributes to the establishment of new enterprises, providing links to our international investment and trade partners and meeting short-term skill shortages across key sectors.

Last year the government set key objectives to promote South Australia's international connections and engagement. Specifically, we aimed to deliver 2,400 skilled and 250 business nominations per annum by 2017, the two key migration programs the state government participates in, and I am pleased to advise the house today that the government has seen results improve across both major migration streams. The government has already exceeded its 2017 skilled migration target to the year ending 30 June, nominating 2,405 skilled migrants, up from 2,226 the previous year. These migrants bring valuable skills and some will use their bold entrepreneurial spirit to start business ventures across the state.

Our business migration program has also grown substantially off the back of six major in-country promotional activities in China and Malaysia, active engagement of our local migrant community, account management for high net-worth migrants and continual improvements to our online application processes. There were 187 business migrants, including 46 significant investors and 67 Business Talent visa applicants, nominated by the state this year, up from 130 in 2013-14. That is 44 per cent growth in a single year. The team at Immigration SA should be commended, but there is more to be done.

The Department of State Development estimates the outcomes from immediate investments made by these business migrants will be $167 million in investments and the creation of 369 jobs, and a better business environment they will be going into with the tax cuts announced by the Treasurer and the WorkCover reforms announced by the Deputy Premier. On the current trajectory, we are well placed to achieve 250 business migrant nominations by 2017, despite the recent changes to the Significant Investor Visa program which we expect will be less attractive to migrants.

We have, however, seen strong growth across the broader business visa stream, particularly in the 132 visa (Business Talent) category, which supports migrants with a significant business history. Through these and other measures, the state government plans to build on our recent success to deepen our linkages with the global economy and create more jobs in this state.

Mr WHETSTONE: Supplementary.

The SPEAKER: Supplementary, member for Chaffey.