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Legislative Council - Fifty-Fourth Parliament, First Session (54-1)
2018-07-03 Daily Xml
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Brabham Supercar

In reply to the Hon. F. PANGALLO (30 May 2018).

The Hon. R.I. LUCAS (Treasurer): Brabham Automotive Holdings Pty Ltd was awarded a grant of up to $1,350,000 (excluding GST) from the Future Jobs Fund by the former government in December 2017.

The grant assists the company with the cost to manufacture, assemble and commercialise the Brabham branded bespoke motorsport track cars and supercars from its premises in Edinburgh Park, South Australia. Specifically, the grant is being provided to the company to develop a production and showroom facility, manufacture test vehicles and establish a driver development program within South Australia.

The state's grant, whilst capped at $1.35 million, will be paid to the company as reimbursement of up to 50% of its expenditure on the project against performance milestones to establish the Edinburgh Park facility, purchase tooling and manufacture and launch the Brabham cars.

The company's project is expected to create 52 new jobs over the next five years, with failure to meet agreed full-time equivalent employee (FTE) targets resulting in pro rata clawback of the grant.

The grant deed has been executed and a copy will be available on the SA Tenders and Contracts website.

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