Fund secures $92.6 million investment in Tasmanian jobs

A $24 million joint Australian-Tasmanian government fund is expected to generate 774 new jobs and $92.6 million in investment in sustainable growth for Tasmania.

Announcing that 56 projects had been funded by the Tasmania Jobs and Investment Fund, Ministers Pyne and Colbeck and Premier Hodgman said the successful projects reflected the diversity of business activity across the state.

The fund is a joint initiative with $16 million provided by the Australian Government and $8 million from the Tasmanian Government.

“Funding was hotly sought, with 56 exemplary successful applicants selected using a competitive merit-based process,” Mr Pyne said.

“The fund attracted 140 highly competitive applications, indicating a determination among the Tasmanian business community to innovate and invest in building a sustainable future.”

Senator Colbeck said the joint fund showed a commitment from the Australian and Tasmanian governments to encourage economic growth and jobs in Tasmania.

“When we announced this program we expected to leverage the state and Commonwealth funds to a total of $72 million.

“I’m really pleased that the government funding of $24 million has leveraged a further $68 million of private funding resulting in a significant injection of investment into Tasmania – a total investment of $92.6 million.

“The Tasmanian Liberal team has delivered an investment which will create about 800 jobs in our local communities across the state – four times that proposed by the initial $16 million Cadbury announcement,” Senator Colbeck said.

Mr Hodgman said the fund had sparked a new atmosphere of optimism in the state.

“The broad interest shows the underlying strength in the Tasmanian economy and is a positive indicator that our economy will continue to grow,” Mr Hodgman said.

“It is particularly encouraging that all applicants were prepared to put a significant amount of their own funding towards the proposed projects.”

The successful applicants include:

• Burlington Berries Pty Ltd, of Cressy, $1,288,147 for the expansion of growing area under poly tunnels.
• One Atmosphere Pty Ltd, of Hobart, $1,078,830 for the design, construction and fit out of an aviation and defence equipment manufacturing facility.
• Wursthaus Pty Ltd, of Cambridge, $138,000 for the expansion of the smallgoods and meat processing area and installation of a meat portioning machine.

Further announcements regarding the remaining unallocated $2 million and further successful applicants will be made in the near future.

A full list of successful applicants is available at www.business.gov.au/TJIF-Projects-Supported