Ministerial Statement

Regional Development Fund

The Hon. G.G. BROCK (Frome—Minister for Regional Development, Minister for Local Government) (14:01): I seek leave to make a ministerial statement.

Leave granted.

The Hon. G.G. BROCK: Today, I am releasing an independent report which has highlighted the importance of the $15 million Regional Development Fund in driving economic growth across our state. The Regional Development Fund offers grants to boost private sector investment in regional infrastructure and create jobs in regional South Australia. I am very pleased to inform the house that in rounds 1 and 2 of the fund $33 million in grants were awarded to 61 projects, worth a combined $5.6 billion to the state's economy over the life of the projects.

A total of 14,389 jobs will be generated across regional South Australia throughout the life of these projects. The report shows that in 2015-16 alone projects supported by the Regional Development Fund will make an economic contribution to the state of $933 million and will create around about 2,265 regional jobs. This report on the economic contribution of the fund underscores the importance of our regions as the economic engine room of the state.

The impacts of the Regional Development Fund reach far and wide across South Australia, with both direct and indirect job creation, increased economic activity, and greater investment, bringing confidence and growth to regional communities. In 2014, the Regional Development Fund was increased from $1.6 million to $15 million per year. This report demonstrates the enormous value of that increased investment by this government in our regions. This injection of additional funding means that community organisations and businesses can bring forward their own investment, invest even more, or undertake projects that otherwise would not go ahead.

The state government is committed to building stronger regions because we know they are an important driver of our economic growth. I am proud to be working with my cabinet colleagues, supporting the many other steps that this government is taking to support our regions. Next financial year, projects supported in rounds 1 and 2 of the Regional Development Fund will employ even more South Australians, with a projected 3,500 jobs on offer. This number will swell further with projects to be supported under round 3 of the fund.

I made the first round 3 announcement on Monday at Ingham's with the Premier and the Minister for Investment and Trade. The exciting statewide expansion of Ingham's facilities, expected to create 850 jobs, is being supported by the Regional Development Fund investment in two projects: a state-of-the-art feed mill near Murray Bridge and four new breeding farms at Yumali. I look forward to announcing further grants under round 3 of the Regional Development Fund in coming weeks.