Several achievements – including the ongoing success of Lot Fourteen – have been highlighted in the first Annual Progress Report for the Adelaide City Deal.
The report underlines how the $649 million Deal has provided a boost for South Australia’s economy through investments which have created jobs and reinforced Adelaide’s status as an innovation hub.
A 10-year agreement between the Australian Government, the Government of South Australia and the City of Adelaide, the Deal is focussed on growing Adelaide as an innovative and vibrant city.
The allocation of $551 million from the Deal to Lot Fourteen is bringing together the state’s leading abilities in space, defence, hi-tech and creative industries and supporting local businesses whilst building on Adelaide’s global reputation as a cultural destination.
As the centrepiece of the Deal, Lot Fourteen has already seen the following in the first 12 months of the agreement:
Premier Steven Marshall said key projects under the Deal were transforming Lot Fourteen into a world-leading innovation precinct.
“Lot Fourteen is creating jobs across a range of high-tech and high-growth sectors,” the Premier said.
“The precinct is generating jobs for current and future generations – which will be critical in the state’s economic recovery from the global coronavirus pandemic.”
Since the initial announcement of the Deal, the state government has confirmed additional funding of $98 million for the projects and initiatives encompassed by the agreement.
Federal Minister for Population, Cities and Urban Infrastructure Alan Tudge said the Deal was delivering projects that were supporting jobs, local businesses and the economy.
“These projects are building on what’s already great about Adelaide, making it an even better place to live, visit, study, work and do business,” Mr Tudge said.
“We’ve achieved great momentum in the first year and we’re going to carry that through, especially at a time when Adelaide and South Australia, like the rest of Australia, need the economic stimulus.”
Over the next 12 months, there will be a strong focus on understanding the impact the global COVID-19 pandemic has had on the state. Through the Adelaide City Deal, there is an opportunity to assist the growth of the economy once the pandemic has passed.
When the Deal concludes in 2029, 6000 people are anticipated to be working, researching and studying at Lot Fourteen.
You can learn more about the Adelaide City Deal and read the Annual Progress Report at https://www.infrastructure.gov.au/cities/city-deals/adelaide/
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