South Australia has pulled in nearly $3 billion in new investment since mid-2022, beating its own targets and signalling that smaller states can still play a global game. At the centre of this effort is Invest SA, the revived investment agency reinstated under the Malinauskas Government. Designed to draw capital and create jobs, the agency has helped lock in $2.93 billion worth of projects in just three years, well above its combined target of $2.25 billion.
India has emerged as a key part of South Australia’s economic pitch, with targeted ministerial delegations and trade missions aiming to build direct bridges with one of the world’s fastest-growing economies. In the past year alone, South Australian companies joined six official delegations across Asia and the Middle East—including India—while over 320 local businesses took part in an additional 33 trade missions to priority export markets.
The government is betting on visibility, and it’s putting people on planes to prove it. These outbound efforts have coincided with a wave of inbound programs where global investors have been invited to South Australia during high-profile events like Gather Round and LIV Golf. So far this financial year, over 700 business and investment representatives have attended these targeted engagement events.
Minister for Trade and Investment Joe Szakacs said the results show what can be achieved with active economic diplomacy. “In spite of increased geopolitical volatility, we’re continuing to see strong investment results across the state,” he said. “We’re getting out on the front foot and spreading the message that SA is open for business.”
He also took aim at the former government’s decision to scrap the agency. “This is in no small part due to our revival of Invest SA following the shortsighted decision by the former Liberal Government to can it.”
India’s growing importance was not named in isolation. With international student numbers rebounding, the Indian diaspora expanding, and new direct air links under discussion, Adelaide’s interest in Indian partnerships seems more than symbolic. It’s strategic.
And investors are responding. Neoen Australia, one of the state’s largest clean energy backers, is expanding its presence across the Mid North, with over $2 billion already committed to wind and storage projects. CEO Jean-Christophe Cheylus credited South Australia as the birthplace of the company’s large-scale storage model. “We remain committed to building high-quality assets that complement the world-class renewable resources available in the state,” he said.
Neoen’s Goyder Renewables Zone is still growing, and the company has taken steps to embed itself within communities—contributing over $400,000 annually to local initiatives and supporting conservation efforts like the new national park at Worlds End Gorge.
With 49 new projects secured already this financial year and over 1,000 jobs created, the Malinauskas Government is increasing Invest SA’s annual target to $850 million from 2025–26. Meanwhile, South Australia continues to rank number one in CommSec’s State of the States for the third straight quarter.
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