Local Jobs Fund investment awarded to 2 proponents
Portable water purification systems and a seafood processing operation are the latest projects to be awarded investment through the Local Jobs Fund (LJF).
Darwin’s Life H2O Australia Pty Ltd, has received a $2.5 million co-investment through the fund, which will see the business expand its workforce and re-locate to a larger premises in Winnellie.
Life H2O Australia develops unique portable water purification and desalination systems which will be useful to remote communities, emergency and disaster responses, and particularly Defence operations.
The LJF investment will see the business scale up operations and create 15 new positions over the next 5 years.
Darwin seafood business, Headland Food Group Pty Ltd (HFG), received a $2 million Business Concessional Loan as part of the fund.
The investment will help establish a new seafood processing facility located within Darwin Fish Markets, improving vertical integration of the local seafood industry and boosting the Territory’s reputation of producing the best fish in Australia.
The funding has also unlocked private finance to help grow the business’s commercial fishing fleet.
The LJF investment will help HFG create 22 new jobs and it is expected to contribute $55.3 million to the Territory’s gross state product over 3 years.
Together the approved $4.5 million investment into the 2 local businesses will expand capability and capacity, grow Territory exports and the local workforce.
To date, the Local Jobs Fund has invested in 13 projects, estimated to generate $342.6 million into the Territory economy over the next 3 years.