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Investment fund creates another 430 new jobs in SA.



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3 October, 2007 07/393

INVESTMENT FUND CREATES ANOTHER 430 NEW JOBS IN SA

Nine projects have been awarded funding under the second and final round of the Innovation and Investment Fund for South Australia (IIFSA), creating 428 new jobs in the Adelaide region, Australian Industry Minister, Ian Macfarlane, announced today.

The $14.1 million in funding will leverage $82.1 million in capital investment in industries ranging from industrial analytical services to engineering and manufacturing products using nanotechnology.

IIFSA is a $30 million assistance package announced by the Prime Minister, John Howard, on 14 September, 2006, following a decision by Electrolux to restructure its Adelaide manufacturing operations. The South Australian state government contributed $5 million to the assistance package.

Ten recipients in the first IIFSA round, announced 4 July this year, were awarded a total of $15.9 million in funding, leveraging $58.1 million in new investment and creating almost 500 new jobs.

"In total, the IIFSA initiative has created approximately 930 new full-time jobs in the Adelaide area. This is a great result and is more than the 500 jobs lost when Electrolux restructured its operations," Mr Macfarlane said.

"The new industry and opportunities which have come to the Adelaide region will also have a multiplier effect through the local economy.

"Successful IIFSA projects cover a broad range of activities from recycling tyres to creating unique local capacity for large-scale engineering and fabrication projects in SA."

Mr Macfarlane announced the nine successful projects at Priority Engineering Services in Elizabeth West along with the federal member for Wakefield, Mr David Fawcett. The company, which will receive $1.98 million under IIFSA to expand the company's engineering development and production facility, will create 123 new jobs.

"IIFSA funding has opened new opportunities for South Australian companies to progress their businesses and to successfully compete in global markets through innovation and value adding,” Mr Macfarlane said.

The nine projects to receive IIFSA funding are:

• Amdel Limited: $1.84 million towards a major expansion of its minerals and industrial testing and geoanalytical services at Wingfield and Thebarton. New jobs: 72. Contact: Chris Nunis, Chief Financial Officer, (03) 88470700 • Maptek Pty Ltd: $975,000 to increase production of specialist laser imaging

equipment at Glenside. New jobs: 27. Contact: Simon Ratcliffe, General Manager, (08) 83389222 • MG Engineering SA Pty Ltd: $585,695 to assist with an expansion of its engineering and heavy manufacturing premises at Port Adelaide.

New Jobs: 22. Contact: Anthony Brdar, Manager, (08) 84476162 • Precise Advanced Manufacturing Group: $2.01 million as part of a project to expand advanced manufacturing capability and capacity at its three Adelaide sites. New jobs: 48. Contact: Grant Tinney, Chief Executive Officer, (08) 82772899 • Priority Engineering Services Pty Ltd: $1.98 million as part of an investment to

expand engineering development and production capability at its Elizabeth West facility. New jobs: 123. Contact: Peter Parrish, Business Development Manager, (08) 82874000 • Protherics Australasia Pty Ltd: $4.5 million towards the establishment of a

biopharmaceuticals manufacturing facility at Thebarton and additional potential investment in regional South Australia. New jobs: 53. Contact: Kylie Sproston, General Manager, (08) 85249700 • Reclaim Industries Ltd: $567,500 towards an expansion of its tyre recycling facility at Kilburn. New jobs: 27. Contact: Chris Forrester, Executive Director, (08) 94188144 • Schefenacker Vision Systems Australia Pty Ltd: $714,500 contribution to a facility to produce high performance mirror coatings using nanotechnology at Lonsdale. New jobs: 24. Contact: Tony Bond, Marketing Director, (08) 83017777 • The Centre for Pharmaceutical Research Ltd: $950,000 towards enhancing bioanalytical services in Adelaide that support pharmaceutical drug development. New jobs: 32. Contact: Jason Valentine, General Manager, (08) 83022463

Media contact: Claire Wilkinson 0419 840452

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