Today the Federal Member for Cunningham, Sharon Bird, and the Federal Member for Throsby, Stephen Jones, congratulated 25 innovative businesses who have been offered a total of $17.2 million in grants as part of the second round of the Gillard Government’s Illawarra Region Innovation and Investment Fund (IRIIF).
The successful projects in the Illawarra will create 512 jobs and $48.8 million worth of investment over the next 4 years.
The dollar-for-dollar co-investment grants cover a range of industries from manufacturing, information services, healthcare, tourism and professional services through to education and training.
“The Illawarra plays an important role in the New South Wales economy and I am very pleased to see so many businesses willing to diversify, expand and strengthen the local economy,” Ms Bird said.
“This region has had a long manufacturing history and it is enthusiastic about improving its competitiveness, as well as creating future opportunities.”
“The standard of innovative project applications in the second round of the Illawarra Fund has been outstanding,” Mr Jones said.
“Sustainable job creation is vital for the region’s future prosperity and we’re thrilled so many businesses have been willing to invest at least dollar for dollar to get their projects off the ground.”
Both Federal Members visited Port Kembla’s National Biodiesel Ltd this morning to welcome a $2.86 million IRIIF second round grant. The company plans to investment more than $14.3 million towards an infrastructure project, generating 52 new jobs.
A similarly sized grant has been offer to CSC Australia Pty Ltd, at Mount Saint Thomas. CSC will establish a centre of excellence, within its current Technology Park campus, and include leading edge IT services and security operations. The project will bring 98 new jobs online.
The Illawarra Fund was established by the Commonwealth Government together with the New South Wales Government and BlueScope Steel to strengthen the region by stimulating investment and diversifying the region’s economic and employment base.
The total IRIIF - rounds one and two - is expected to directly create 888 new fulltime equivalent jobs and generate at least $90 million in total investment in the Illawarra.
Further information is available online at www.ausindustry.gov.au or on 13 28 46.