$100m Economic Recovery Fund for future

The Malinauskas Labor Government will establish a $100 million Economic Recovery Fund (ERF) specifically calibrated to assist business and industry grow jobs in South Australia.

After a challenging couple of years for South Australian businesses, the Economic Recovery Fund will provide grants for SA-based businesses seeking to grow while also supporting investment attraction in South Australia.

The fund will support several rounds of grants over the next four years, with businesses invited to apply against a set criteria.

An example is the previously announced $10 million Manufacturing Innovation Grants Program, which will be open for local manufacturing businesses seeking to grow.

The fund will also allow the government to make strategic investments which will attract investment and grow jobs in South Australia.

The Malinauskas Labor Government will also establish InvestSA, which will be charged with selling South Australia’s credentials nationally and internationally, assisting investors to establish in South Australia.

InvestSA will cost an additional $4.2 million over four years.

Quotes

Attributable to Peter Malinauskas

My government strongly supports South Australian businesses.

The Economic Recovery Fund will provide an opportunity for SA-based businesses seeking to create jobs, while also supporting development opportunities in our state.

We’re backing SA businesses to help drive our state’s economic recovery after the pandemic.

Attributable to Stephen Mullighan

The Economic Recovery Fund will be specifically calibrated to businesses and industry seeking to create jobs.

As we emerge from the pandemic, there are scores of South Australian businesses seeking to grow and government has a role to play to ensure they can do that, and therefore create more jobs in our state.

InvestSA will ensure that once again South Australia is actively seeking investment from interstate and overseas, which will only help create even more jobs.

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