Invest SA attracts $1b in 2022-23

04 Jul 2023
In its first financial year since being established, Invest SA has supported the attraction of $1 billion in investment into South Australia across key sectors of economic growth.
The dedicated division within the Department for Trade and Investment, is tasked with attracting national and global investment into South Australia across sectors that include Hi-tech; Creative Industries; Defence and Space; Tourism; Food, Wine and Agribusiness, Health, and Mining and Energy.
The $1 billion worth of investment has included significant economic growth in industries outside of the traditional Defence or Mining and Energy sectors, with Creative Industries one of the fastest growing sectors in the state.
With a third of the investment coming from outside the traditional sectors, 1,724 of the 4,314 forecast jobs are from other, non-traditional sectors, including Creative Industries, Hi-tech, Space and Food, Wine and Agribusiness.
This has included, as an example:
· The establishment of Tantalus South (Keywords Studios) and Big Ant Studios in Adelaide

· Epicurean Food Group expanding into the former GM Holden factory site to enable the production of more than 20,000 tonnes of exotic mushrooms and mushroom products each year, employing 350 full-time staff

· The expansion of Deloitte with their Innovation and Technology Hub entering its second phase which will see 1,000 people employed when completed

· Kongsberg Defence Australia investing in a purpose-built facility at Mawson Lakes to assist in the delivery and support of existing and future defence acquisition programs

· In conjunction with the South Australian clinical trials ecosystem, supported GEXVal’s successful capital raise of $14 million, which enabled it to commence a Phase 1 clinical trial in Australia with a number of South Australian Partners

· The establishment of an office for UK-based Surrey Satellite Technology Ltd (SSTL), its first office in the Southern Hemisphere

· Finalising the deal for a $12.5 million hydrogen production facility in Bolivar – a partnership between Japan’s Ministry of the Environment and Japanese company Marubeni will see low-cost green hydrogen created from renewable resources, which can then be transported from South Australia to Indonesia

· Attracting Azure Quantum Week to South Australia, in partnership with KPMG, TCS and the Office of the South Australian Chief Scientist

· Supporting South Australian companies’ presence at Fuel Cell Expo 2023.

· Launching the Indo-Pacific Carbon Accounting Lab (IPCAL) at the United Nations Climate Change Conference, COP27 in Egypt

· Attracting European defence company MBDA, a world-leader in the field of guided weapons and missile systems, to establish a presence in South Australia

· Hosting the UK and French space missions at Avalon Airshow – a global business and defence event attracting aviation, aerospace, space and military and government decision-makers from around the world

· Supporting South Australian companies at Arab Health which brought together key stakeholders to collaborate and make healthcare a more sustainable, positive-impact industry

· Showcasing South Australia’s strengths in agritech at evokeAG, the Asia Pacific’s premier agrifood tech event which attracted the entire ecosystem of farmers, innovators, researchers, corporates, government and investors.

“Our results this year show we have been able to attract significant investment across a broad range of sectors and this will help bring new and exciting projects to further develop our economy and make it more resilient,” said Chris Wood, Executive Director, Invest SA.
“Importantly we’re growing opportunities for the state by supporting local, national and international investment into South Australia. We are developing strong links with major equity firms, like Morgan Stanley and Blackstone, to assist local South Australian businesses attract capital, while also supporting infrastructure development in cooperation with a range of State and Federal Government departments. 
“It is an incredibly exciting time for the state, and we are looking forward to playing our role in delivering generational benefits for South Australians.”
Building on the network of the State’s international footprint across the globe, Invest SA has grown its connections with international and national investment opportunities with critical industry and research partners. 
In November 2023, Invest SA will host, in partnership with Business SA and South Australia’s Chamber of Commerce and Industry, the India Horasis Trade and Investment Summit, attracting 250 India business leaders to the state to see first-hand, South Australia’s competitive advantages and attract investment to help further develop the state’s industries.