SOLAR JOBS BOOST FOR TAMWORTH
Member for Tamworth said leading Solar Powered Pumping systems specialists, ReAqua, had secured NSW Government funding to enable part of a $200,000 business expansion project set to create up to 12 new jobs in the region.
Member for Tamworth Kevin Anderson said the funding, from Government-backed, private-sector led Jobs for NSW, had enabled ReAqua to establish a new Head Office in Tamworth and hire local staff.
ReAqua was recently acquired by Australian Irrigation Investments (“Aii”) who are also the owners of Gunnedah based Domestic & Industrial Pumping Equipment Specialists Lambert & Torrens.
Lambert & Torrens will continue to operate out of their Gunnedah premises with no change to the business. The new ReAqua National Head Office in Tamworth builds on ReAqua’s existing office and distribution centre in Adelaide which will continue to remain in operation.
“The company wants to establish in the Tamworth region a Solar Power centre of excellence, enabling local farmers to benefit from having a solar irrigation provider in the heart of irrigation country. They will be able to access the latest in solar irrigation and pumping products, technology and support. That’s great for their business and the environment.
“This fantastic boost in funding will generate more jobs and help to attract more investment in the Tamworth region.
“Jobs for NSW is helping to drive efforts to significantly grow regional centres like Tamworth to become accelerators for jobs growth and investment in the future,” he said.
Mr Anderson said the NSW Government is also targeting high-growth regional SMEs with new loan products ranging from $200,000 to $1.2 million, and a loan guarantee of up to $5 million to provide emerging businesses with capital to grow and drive job creation across the State.
“The flexibility of this type of investment support will be a major boost to fast-growth business in regional areas. In particular, regional businesses should look to the Regional Growth Loan which is interest-free.
“This fantastic initiative will give NSW businesses with the greatest potential to succeed the ability to overcome obstacles to maximise their growth by providing targeted loans across each stage of the business growth cycle.
“All loans will be conditional on projects meeting agreed job creation targets within agreed timeframes depending on the size of the loan. As a benchmark, for a loan of $500,000, a minimum of 10 full time jobs will need to be created within two years,” Mr Anderson said