WA attracts investment following pandemic growth

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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.

Premier Mark McGowan said he was confident in his state’s reputation to welcome further growth in the wake of the COVID-19 pandemic.

“There is no better or safer place to do business than in Western Australia,” McGowan said.

“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.”

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.

“With our existing strengths, industry knowledge and expertise, Western Australia is the natural home for many new and emerging industries.

“The Investment Attraction Fund has been established to make sure we capitalise on our comparative advantages, build upon our thriving innovation ecosystem and help industry deliver the jobs of the future for Western Australians.”

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