Investment Attraction Agency

The Hon. J.M. RANKINE (Wright) (14:41): My question is to the Minister for Investment and Trade. Has the Investment Attraction strategy, initiated last year, achieved its aims?

The Hon. M.L.J. HAMILTON-SMITH (Waite—Minister for Investment and Trade, Minister for Small Business, Minister for Defence Industries, Minister for Veterans' Affairs) (14:41): I thank the member for Wright because, indeed, that strategy is delivering results.

Ms Chapman: Have you got any more 457s?

The Hon. M.L.J. HAMILTON-SMITH: Something intelligent to say?

Ms Chapman: Any more 457 visas?

The Hon. M.L.J. HAMILTON-SMITH: Something intelligent to say?

Ms Chapman: Any more?

The Hon. M.L.J. HAMILTON-SMITH: No, nothing really, pity. Ask a question, Vickie; see if it can be an intelligent one.

Mr KNOLL: Point of order: I would ask you to ask the minister to refer to members by their electorate name.

The SPEAKER: Yes, it is highly disorderly to refer to members by other than their electorate name or position in the house. The minister.

The Hon. M.L.J. HAMILTON-SMITH: Thank you, Mr Speaker. I also thank the member for Finniss for his questions earlier this week about the Investment Attraction agency, which I will include in my response today, because the Investment Attraction agency opened its doors in October last year with the object of creating new jobs and attracting investment into the state to provide further economic stimulus. People were moved from the Department of State Development, from Primary Industries, resources from Renewal SA and DPC into the new agency so that it was raised from within existing resources, and it has been successful indeed.

It has helped 12 companies complete their investment plans, securing $975 million worth of investment projects for the state, which will create 4,500 direct and construction jobs for South Australians, and there is more to come shortly. These jobs partly explain why the employment rate in South Australia is growing—and it is growing above that of other states. Some of those successes have come through financial assistance provided through the agency's Economic Investment Fund. Other successes have come through the very good case management services the agency provides.

Secondly, the agency has been a key player in the strategic annual calendar of trade missions that has been developed and run by the Department of State Development in conjunction with lead agencies, such as Primary Industries and the Department of the Premier and Cabinet. Just this week, we hosted a delegation from Singapore's state-owned investment powerhouse, Temasek. Thirdly, Investment Attraction SA—

There being a disturbance in the strangers' gallery:

The SPEAKER: The member of the public sitting above the clock will not use flash photography. Would the security guard please remove that flash camera.

Ms Sanderson: Nobody saw it, though.

The SPEAKER: The member for Adelaide is warned and will be ejected if she continues to behave in that fashion. I definitely saw it and I am sure other members did, especially the member on his feet would have been distracted. Minister.

The Hon. M.L.J. HAMILTON-SMITH: The agency is building the state's reputation across the world. It operates on two levels: it provides financial assistance via the Economic Investment Fund and it also provides direct assistance to companies, businesses and investors to help them establish new ventures. For example, the member for Finniss raised yesterday the matter of Red Capital Pty Ltd and what assistance had been given.

I am advised that Australian Global Wine Services, in conjunction with Red Capital Pty Ltd, announced plans in early 2016 to construct a bottling storage and container facility at Port Adelaide, which will cater predominantly for the wine industry. This $55 million venture will create up to 70 new jobs plus 170 construction jobs. Investment Attraction SA worked closely across a range of government departments to support the project. That is what the agency does.

As the Premier announced in February 2015, we have corralled investment activities across government into one focused agency to improve performance, and it works very much as a part of the whole government team. We did it with no additional resource expense to the budget, using current resources. Under board chairman, Rob Chapman, and myself as minister and with the Premier's guidance and with a great CEO, close to $1 billion of economic activity has been moved into our economy with the promise of 6,000 jobs by 2018 looking like being exceeded, no thanks to those opposite.