Cyber security company to set up advanced manufacturing centre in Adelaide
Leading cyber security company, VeroGuard Systems, announced plans today to build a major advanced manufacturing facility in Northern Adelaide creating nearly 600 new jobs in its first three years.
The $57.5 million investment by VeroGuard Systems will see the company establish an Advanced Manufacturing Centre to securely produce its VeroCard technology.
Veroguard will also open an Adelaide-based Global Network Operations Centre for customer service and digital back end infrastructure.
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.
The South Australian Government will contribute $6.2 million to support the job creation project via the Economic Investment Fund.
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.
Premier Jay Weatherill said the State Government is striding ahead, continuing to create job opportunities for South Australians in emerging and high tech industries.
“With our pool of skilled former automotive workers, South Australia is perfectly positioned to fulfil the advanced technology manufacturing required by cyber security companies,” Mr Weatherill said.
“We’ve seen a number of recent investments in the cyber security area such as NEC and the Government’s support for a Cyber Security Growth node in South Australia.
“Today’s announcement further reinforces our State’s reputation as a significant global supplier of cyber security solutions.”
Trade Minister Martin Hamilton-Smith said this announcement is the biggest success to date of Investment Attraction South Australia which continues to deliver results.
“It is fantastic news for Northern Adelaide with a leading technology company investing close to $60 million in the area and creating employment for nearly 600 South Australians,” Mr Hamilton-Smith said.
“What we have here is a leading cyber security tech provider, recognising the strong business environment and existing advanced manufacturing skillset our state presents and making a significant investment in South Australia.
“For former automotive workers this is a real opportunity to transition across into a new high-value, niche manufacturing sector and expand their own skillset in a growth industry.”
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.
“This concerted effort by the State Government and University of Adelaide has made it easy to decide to choose South Australia as our global headquarters,” Mr Elbaum said.
“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.
“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.
“Veroguard Systems acknowledge the State Government for laying the foundations for this partnership, enabling companies like Vero to develop their ideas and access capital – all from a vibrant, cultural and affordable city.”