$3 billion secured through revived Invest SA

Nearly $3 billion in investment has been secured by Invest SA in just three years following the agency’s reestablishment, which fulfilled a Malinauskas Labor Government election commitment.

Latest figures show that Invest SA has been responsible for the attraction of $2.93 billion of investment since 1 July 2022, exceeding a cumulative target of $2.25 billion for that period – $750 million in each of the financial years – by $680 million.

In the 2024-25 financial year to date, the agency has secured 49 new projects, facilitating the creation of more than 1,000 new jobs, with more than half of those jobs ongoing.

Forming part of the investment attraction equation is a strategy to bring companies to South Australia for major events including Gather Round and LIV Golf, with more than 700 businesses and investment representatives attending seven such programs in 2024-25.

Outbound ministerial business missions are also central to the state’s investment strategy, with 67 South Australian companies participating in six delegations in the past year to China, Hong Kong, Japan, Korea, Singapore, the UAE and India.

In that same period the Malinauskas Government supported more than 320 local businesses to take part in a further 33 outbound trade missions to priority markets.

Invest SA was restored by the Malinauskas Labor Government in its first budget, sending a clear early message of the Malinauskas Government’s intention to deliver an economic platform that has since seen South Australia top the CommSec State of the States in three straight reports during 2024.

Off the back of these strong results, the Malinauskas Government will increase Invest SA’s annual target to $850 million for 2025-26.

Quotes

Attributable to Joe Szakacs

In spite of increased geopolitical volatility, we’re continuing to see strong investment results across the state.

This is in no small part due to our revival of Invest SA following the shortsighted decision by the former Liberal Government to can it.

Our Government is continuing to deliver a strong economy for South Australians, one that is leading the nation.

We know that we can’t take these results for granted, which is why during such uncertain times globally we are getting out on the front foot and spreading the message that SA is open for business.

We want companies both here and across the globe to know that there is no better place to invest than in South Australia.

Attributable to Jean-Christophe Cheylus, CEO, Neoen Australia

Neoen is a major investor in South Australia and has been for almost a decade. We remain committed to continue building high-quality assets that complement the world-class renewable resources available in the state.

South Australia is where our incredible story of large-scale wind generation and storage began and we are proud of everything we have achieved in partnership with the local and state government agencies.

With over 1 GW of capacity under construction or operating, our investment in the South Australian market exceeds $2 billion and we are excited about accelerating the transition to net zero with future opportunities like the next stages of development of Neoen's Goyder Renewables Zone.

Our desire to build new assets while being a responsible neighbour in the local communities remains strong and we look forward to exploring new opportunities to deliver positive impact.

Neoen is proud to have driven the creation of a new national park at Worlds End Gorge and of distributing over $400,000 in annual community contributions in the state's Mid-North region from its existing assets.