Invest SA attracts close to $3B in three years

In just three years, Invest SA has attracted close to $3 billion investment into South Australia, exceeding performance targets by $680 million.

Latest figures show that Invest SA has attracted $2.93 billion of investment since 1 July 2022, exceeding its annual financial year target of $750 million.

To date, in 2024-25, Invest SA has secured 49 new projects facilitating the creation of more than 1,000 new jobs, with more than half of those jobs ongoing.

Going forward, Invest SA will be tasked with attracting $850 million of investment into South Australia each financial year. Part of Invest SA’s investment program includes attracting national and international companies to the state aligned to major events such as LIV Golf or AFL Gather Round, with more than 700 businesses and investment representatives attending similar event programs in 2024-25.

“Neoen is a major investor in South Australia and has been for almost a decade,” said Jean-Christophe Cheylus, CEO, Neoen Australia. “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 1GW 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,” he continued.

“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.”

South Australia has the strongest growing economy in the nation according to State Final Demand (SFD) figures released in June by the Australian Bureau of Statistics.

South Australia’s SFD for the March quarter increased by 1.3 per cent, almost double the next best in Queensland and well ahead of the national GDP growth of just 0.2 per cent.

For further information about how Invest SA can support companies to establish in South Australia, visit https://invest.sa.gov.au