Territory-based SPEE3D is the latest local business to benefit from the Local Jobs Fund, with a $2.75 million investment by the Northern Territory Government.
The concessional loan will help SPEE3D establish a Research and Development Headquarters in Darwin and create 24 new local jobs.
Economic modelling done by the Department of Trade, Business and Innovation shows this project will directly grow the Territory’s economy through exports by $58 million, with a further flow-on effect to Gross State Product of $55 million over 5 years.
SPEE3D are an advanced manufacturer through 3D printing. They have created a world-leading 3D metal printer that can rapidly manufacture components in a variety of different metals and alloys.
The Territory Government’s support for SPEE3D’s R&D HQ will allow for the ability to develop new printing materials, new printing technologies, and better support applications for important customers in the defence, mining and energy industries, both nationally and internationally.
As well as creating jobs right now, this investment supports countless jobs in the future – with 40 apprentices at Charles Darwin University receiving exposure to this innovative technology.
Darwin is perfectly positioned to be the R&D hub for SPEE3D, due to its proximity to Asian markets, unique opportunities to work with Defence, and the ability to develop new technologies for remote settings.
SPEE3D have recently shown how their innovative thinking can be transformational – using their printers to coat metal parts like door handles with antimicrobial copper, to help protect against the spread of COVID-19.
In 2017 the NT Government supported SPEE3D with a $400,000 grant for the purchase of the LightSPEE3d Printer.
The company has also begun trials with their 3D metal printing machines with the Royal Australian Navy and Australian Army.
As noted by Chief Minister Michael Gunner:
“SPEE3D is a local success story, and we are backing them to create as many local jobs as possible.
“We are doing whatever it takes to save lives and save jobs through the coronavirus crisis, but we are also investing in new industries and new jobs for the Territory’s future.
“This hub could have been based elsewhere, these jobs could have gone elsewhere, but we have made sure the jobs are created right here in the Territory.
“Because we are the safest, we can have the strongest comeback, and I want the Territory to be Australia’s comeback capital. We will keep putting the Territory first.”