A new $1 million a year Investment Accelerator Program has been launched to attract innovative, high-growth interstate and international companies to South Australia to create more local jobs in vital sectors for the state’s future prosperity.

The program offers up to $100,000 to help interstate and international businesses establish themselves here in South Australia. Priority sectors of focus for the program include health and medical, critical technologies, defence and space, energy and mining and green industries, food and wine, agribusiness and creative industries.

By bringing eligible companies to South Australia as part of the program, there is an opportunity to create high-skilled and well-paid jobs that focus on our key growth areas for the state and have significant potential for future expansion.

Invest SA will target companies that do not have a physical presence in South Australia. Businesses must be established and generating revenue for at least 12 months and belong to one of the priority sectors.

Successful applicants will be able to utilise the funding for office accommodation, and for services including accounting, taxation, migration advice and marketing.

The Investment Accelerator Program was announced in the 2024-25 State Budget, with an ongoing $1 million per financial year. The program will further support the work done by Invest SA to attract investment into South Australia.

Invest SA was brought back as part of a Malinauskas Labor Government election commitment, and in its first two years, has attracted more than $2 billion worth of investment into South Australia.

For further information about Invest SA, visit www.invest.sa.gov.au

Quotes

Attributable to Joe Szakacs

The Investment Accelerator Program will provide South Australia the opportunity to attract more companies nationally and from overseas from key priority areas designed to grow our state’s economy.

By targeting our focus markets, we will attract more investment into our state and create more jobs for South Australians.

The Department of State Development and the team at Invest SA, continue to contribute to the state’s economic performance rankings. This is demonstrated by the recent announcement of South Australia named in the top spot of the CommSec State of the State’s economic performance report.