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House of Assembly - Fifty-Third Parliament, Second Session (53-2)
2017-09-26 Daily Xml
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Investment Attraction Agency

The Hon. S.W. KEY (Ashford) (15:01): My question is directed to the Minister for Investment and Trade. Minister, are you able to update the house on how the Investment Attraction agency has created 6,000 jobs in South Australia?

The SPEAKER: Can the minister help the house on that?

The Hon. M.L.J. HAMILTON-SMITH (Waite—Minister for Investment and Trade, Minister for Small Business, Minister for Defence and Space Industries, Minister for Health Industries, Minister for Veterans' Affairs) (15:01): Thank you, Mr Speaker, and I thank the member for Ashford for her question. It is pleasing to follow on from the Premier and the Treasurer because the Investment Attraction agency, which was officially launched in October 2015 as the state's dedicated point of contact for businesses and investors, has overachieved.

The agency was given a clear mandate to drive forward investment for South Australia, investment that created high value-adding industries and sustainable jobs. IASA provides an excellent support service including bespoke skills packages and financial incentives to help bring new and transformational projects to the state. In less than two years, the Investment Attraction agency has secured 20 major projects.

These projects combined equate to an impressive $1.127 billion in capital investment, which will contribute an estimated $5.7 billion worth of investment to the state. These projects deliver significant strategic and economic benefits to South Australia in industries such as manufacturing, information technology, cybersecurity, financial services, renewable energy, horticulture and agriculture. The agency has secured some of the world's highest profile companies, including names like Boeing, NEC, Babcock, Datacom and Ingham's.

This injection of inward investment to the state has led to an impressive number of new jobs for South Australia. The agency was charged with a target of creating 6,000 jobs by the end of this year, and they have already done so well ahead of year's end. I am pleased to say that those 6,000 jobs are either in place now or about to commence ahead of schedule, as I said, by early September. The chief executive, Mike Hnyda, and his experienced business development team have worked tirelessly to deliver those jobs and associated investment.

There are more projects in the pipeline, and I will have more to say about that shortly. Strong customer focus, in-depth understanding of the state's economy and leveraging the experience and networks of our staff and our global advisory board have all been pivotal factors to the investment agency's success. I thank Rob Chapman, chairman, and all board members for their wonderful efforts and wish them particularly well on the weekend by the way.

But none of that effort undertaken by Mr Hnyda and his team would have paid off unless South Australia had something unique to offer, unless South Australia was a good place to invest. It is our unique advantages that make our state rich in opportunity for that very investment from interstate and around the world—and it is rolling in. The investment agency tells me their phones have been ringing strongly in recent weeks and recent months, flying in the face of commentary from the banks and their friends opposite, who are talking down the state in complete conflict with the facts, in complete conflict with the truth. When I lead—

The SPEAKER: The minister will not debate the answer; he will provide the house with information.

The Hon. M.L.J. HAMILTON-SMITH: Thank you, sir. When I lead outbound missions offshore, I am heartened by the fact that both private enterprise and governments are keen to invest in the state because of our competitive business environment, our enviable lifestyle, skilled and educated workforce, culture of innovation and advanced manufacturing capabilities underpinned by three magnificent universities.

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