Leading cyber security company, VeroGuard Systems, is building a major advanced manufacturing facility in Northern Adelaide in a project which will create nearly 600 new jobs in its first three years.

The $57.5 million investment will see the company establish an Advanced Manufacturing Centre to securely produce its VeroCard technology.

The company intends to recruit 424 of the 596 required employees from the Northern Adelaide region, providing opportunities for former automotive workers and the currently unemployed.

VeroGuard Systems is a Melbourne-based cyber security company that specialises in identity and access management technology. The company’s technology integrates military grade security and encryption with banking grade ‘black-box’ technology, with their products being sold to governments and private companies across the world.

VeroGuard’s “card-present” digital technology approach introduces a secure identity layer to the internet providing a level of security that does not currently exist. This is a revolution in securing online identities for both industry and the consumer.

The company is building a research relationship with the University of Adelaide including curriculum to ensure a pipeline of graduates for ongoing employment.

Chairman of VeroGuard Systems Daniel Elbaum said South Australia has been widely promoted as encouraging for business investment, leading technology solutions, and provides the population density and workforce to enable the high-tech manufacturing and cyber knowledge required.

“Veroguard Systems plans include setting up their manufacturing and operational centre for its global operations within the next six months to deliver their first projects. It is expected that 600 jobs will be created within three years in new cyber security and digital identity technologies, substantially boosting the credibility and profile of South Australia internationally,” Mr Elbaum said.

“This could be the tip of the iceberg for jobs with large global companies already in discussion with Veroguard Systems also. It’s great to kick off here in South Australia unlike so many other Australian companies who have had to go offshore first to gain backing for their technology.”