Amid the economic turmoil of 2008, Invest Brisbane has forged ahead, attracting a record high in new capital investment, leading strategic initiatives for the city and promoting key sector capabilities in international markets.

Invest Brisbane, the city’s official investment promotion agency and the only one of its kind in Australia, made a significant contribution to Brisbane’s economy in 2008.

The agency secured $472million in new capital investment – up from $415million in 2007 – creating 1446 new jobs and retaining a further 1478 jobs. International investment also increased by five percent, reinforcing Brisbane’s reputation as an emerging global city.

Invest Brisbane director, Daniel Havas said that as cities around the world grow more competitive, investment promotion agencies need to strengthen their focus on key international markets.

“In 2008, 38 percent of new capital investment secured by Invest Brisbane was sourced overseas, up from 33 percent in 2007,” Mr Havas said.

“Invest Brisbane pursued a strategy of attracting large-scale investment from strategic markets, namely the USA, UK, Spain and Japan.”

Invest Brisbane welcomed three new companies to its Corporate Partnership Programme in 2008 – KPMG, Talent2 and Brisbane Technology Park. These additions will help further the programme’s aim of developing Brisbane as a strong, commercially competitive location for business.

KEY WINS

TextOre, a leading US text and data mining company has established a new office in Brisbane. This builds on TextOre’s global expansion plans and will provide a strategic location from which to provide services to Asia Pacific and Middle Eastern markets.

Invest Brisbane worked closely with TextOre throughout late 2007 and 2008 to develop a comprehensive business case in addition to profiling the many benefits of Brisbane’s labour force. This new investment to the city is valued at $8million and will create over 50 new jobs for Brisbane.

Tantalus, one of Australia’s leading independent electronic games developers, renowned for titles such as Cars, Top Gear Rally and SpongeBob SquarePants, is establishing operations in Brisbane. With 14 years in the business it has a portfolio of over 30 titles on a number of platforms and is developing for current generation consoles.

Attracted by the games development talent Brisbane provides, Tantalus is setting up its second Australian studio at the Creative Industries Precinct at Kelvin Grove.

Coca-Cola Amatil undertook a $25million reinvestment project which is expected to increase production at the drinks giant’s Brisbane plant by around 11 percent and create 19 new jobs.