WA attracts investment following pandemic growth

The $100 million Investment Attraction Fund (IAF) has been initiated by the Western Australian Government to increase local jobs and demand across a range of sectors including mining.  The IAF will build upon priority sectors outlined in the state’s economic development framework, Diversify WA, such as mining equipment, technology and services (METS) to encourage new investment for economic growth.

The IAF will include $16.7 million over four years to support innovation across the State, by accelerating new and existing SMEs to help diversify the economy and create new jobs.  Premier Mark McGowan said he was confident in his state’s reputation to welcome further growth in the wake of the COVID-19 pandemic.

“As Western Australia and the world reconnects, it’s essential that we capitalise on new opportunities. That’s why we are committing $100 million to helping the industries of the future grow and succeed in our state.” McGowan said.

Three industry representatives will assess expressions of interest to access the funding.  They include HBF chief executive officer John Van Der Wielen; CSA Global principal consultant Ivy Chen; and Australian Venture Consultants partner Larry Lopez.

Minister for State Development, Jobs and Trade, Roger Cook said WA had the right environment for this investment to have significant impacts.

“This is a great initiative to drive investment and diversification of the WA economy,” Cook said.

CREDIT – Australian Mining

 

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