Investment Attraction South Australia (IASA)Overview
This program aims to capture foreign direct investment - investment which creates high value-adding industries and sustainable jobs. It seeks to connect businesses with decision-makers, identify funding and support options, help them choose new premises and then settle into South Australia.
The program works with investors to:
- Provide a dedicated point of contact for all project requirements.
- Ensure they have the best support to expedite a project in what may be a new city.
- Simplify dealings with government and other business partners to streamline the path to a secure investment.
- Provide policy and regulatory assistance to accelerate investments.
- Help access the State’s skilled local workforce, ensuring investors are connected to professionals who can deliver results.
- Link to new technologies, services, skills or processes which may add value to the organisation.
A total funding pool of $15 million is available over two years from 2015-16.
As announced in the 2017-18 State Budget, Investment Attraction South Australia will receive an additional $60 million over four years. It will comprise $30 million in grants over 2017-18 and 2018-19 and $30 million in low-interest loans over 2019-20 and 2020-21. It forms part of the State Government’s $200 million Future Jobs Fund.
This State Budget investment in IASA provides $10 million in 2017-18 and $20 million in 2018-19 to further support and secure new investment in South Australia within key industries including:
- Shipbuilding and defence
- Renewable energy and mining
- Tourism, food and wine
- Health and biomedical research
- IT and advanced manufacturing
Eligible applicants include companies and start-ups who wish to relocate their operations to South Australia.
The priority sectors are:
- Minerals and energy resources
- Food and agribusiness
- Advanced manufacturing and future industries
- Technology and creative industries
- Financial and business services
- Research & Development
- Business Support