Gold Coast-based modular home builder ModnPods‘ will be able to more than double the size of its Arundel manufacturing facilities, thanks to an investment from the Palaszczuk Government’s $100 million Business Investment fund.
Treasurer and Minister for Trade and Investment Cameron Dick said the investment would fuel ModnPod’s growth into a range of new markets and help create more than 100 new Queensland jobs over the next three years.
“ModnPods ‘tiny homes’ are so popular that the company is having trouble keeping up with demand,” the Treasurer said.
Rather than having to delay their expansion until they can get access to the capital they need to grow, ModnPods have successfully applied for funding through the Business Investment Fund.
“The current constraints facing the housing sector have emphasized the need to be innovative when it comes to how homes are built.
“With faster completion time, greater flexibility, reduced waste output and lower costs, modular manufacturing is gaining popularity around the world as an alternative to traditional construction methods.
“ModnPods manufactures prefabricated modular pods that can used for a range of applications, including essential worker accommodation, holiday parks, social housing and home offices, incorporating high energy standards which can reduce gas and electricity bills.
“This investment will allow ModnPods to increase their manufacturing capacity to around 200 pods per year, increasing the size of their Arundel factory to 6,000 square metres.
“That means ModnPods can diversify its customer base, accelerating its expansion beyond homes and commercial offices into eco-tourism, social housing, First Nations housing, specialist disability accommodation and school music pods.
“With six different core products starting in price from under $67,000 and a range of customisation options, ModnPods have recently signed deals to provide music pods in the education sector and premium pods for holiday accommodation providers.
“To support this growth, ModnPods expect to hire 30 new staff within 12 months and increase their current team of 16 to around 100 over the next three years.
“The company is also establishing several apprenticeship programs in collaboration with Gold Coast City Council, including a First Nations apprenticeship.
“With 70 per cent of each pod’s inputs sourced from Queensland-based suppliers and an emphasis on using recycled and recyclable materials, there’ll be ongoing benefits for Queensland businesses and our environment as ModnPods grows.
“ModnPods was established in 2016 through the commercialisation of a collaboration between Bond University MBA student John Christie and Daniel Abrahams, Foundation Director, Bond University Transformer, demonstrating the benefits of harnessing the innovation within Queensland’s world-class universities to unlock job-creating businesses.”
ModnPods Founder John Christie said the company was experiencing significant demand from the commercial sector.
“Even with our continuing strong residential pod sales, rising demand in the commercial space is seeing our market demand by enterprise clients represent 80 per cent of our forward order business,” Mr Christie said.
“The support of the Queensland Government is enabling us to continue expanding our manufacturing capacity and create more local jobs,” commented ModnPods CEO, Mr Daniel Abrahams.
ModnPods is the fifth investment made from the QIC-managed Business Investment Fund, following deals with Gilmour Space Technologies, Buildsafe, VALD and Skedulo.
The Business Investment Fund is part of the Palaszczuk Government’s $3.34 billion Queensland Jobs Fund which includes a range of programs designed to entice businesses to move or expand their operations here in Queensland.