$170 million of investment in regional SA

More than $170 million worth of projects in regional South Australia will get off the ground creating more than 1,500 jobs, thanks to $25 million from this year’s rounds of the Marshall Liberal Government’s Regional Growth Fund.

The latest $13 million funding round announced today will unlock more than $100 million of investment in seven projects across South Australia including a timber plant upgrade in the South East, a new resource recovery facility at Port Pirie and a new tourism and accommodation venue in McLaren Vale.

This follows $12 million of funding announced in September which will unlock nearly $70 million of investment in 16 projects across South Australia.

Announcing the latest round of grant recipients at McLaren Vale, Minister for Primary Industries and Regional Development David Basham, said these projects would not only directly boost local communities but would have more wide-ranging benefits for the state.

“2020 has been a tough year for South Australians and our regions have been hit particularly hard firstly with drought, then bushfires and now the coronavirus pandemic,” said Minister Basham.

“Regional South Australia will be critical to our economic recovery and the Marshall Liberal Government is building what matters to back businesses to create jobs.

“The $25 million from our Regional Growth Fund will unlock more than $170 million of investment in South Australia’s economy – creating more than 1,500 jobs across the state.

“This crucial investment in shovel-ready projects will kick-start a range of strategic initiatives, which in turn will provide vital economic growth in the wake of the challenges posed by 2020.

“This funding supports a wide range of projects, including a new tourism and accommodation venue at McLaren Vale, the repurposing of a disused abattoir at Port Pirie into a waste recycling centre and the expansion of Australia’s second largest family-owned wine company, Kingston Estate.

“These companies, and the others we are working in partnership with, are building a future in their industries, in their communities and for the state.”

Beresford Estate is owned by South Australian company Bickford’s Group and Managing Director Angelo Kotses said the upgrade would provide another world-class destination at McLaren Vale.

“McLaren Vale is an iconic part of South Australia and our $10 million project will see a Vale Brewing taphouse and accommodation pavilions built as part of our Beresford Estate,” Mr Kotses said.

“This project will expand what we currently offer at McLaren Vale and provide another tourism option for those visiting the region, helping boost the local economy.”

In the State Budget 2020-21 this special once-off Regional Growth Fund Strategic Business Round in 2020 was boosted with an additional $10 million.

The State Government has committed $160 million over 10 years through the Regional Growth Fund to support regional South Australia as part of the Recharging Our Regions policy.

Applicants to the Regional Growth Fund were eligible to seek grants from $50,000 up to $2 million, with projects given preference if they can demonstrate a greater private-to-government funding ratio and demonstrable strong economic outcomes.

For more information, visit www.pir.sa.gov.au/regionalgrowthfund

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