Cyber security company, VeroGuard Systems, has announced plans to build a major advanced manufacturing facility in Northern Adelaide, creating nearly 600 new jobs in its first three years.
The $57.5 million investment by VeroGuard Systems will see the company establish an Advanced Manufacturing Centre to securely produce its VeroCard technology.
Veroguard will also open an Adelaide-based Global Network Operations Centre for customer service and digital back end infrastructure.
The company intends to recruit the majority of the 596 required employees from the Northern Adelaide region, providing opportunities for former automotive workers and the unemployed.
VeroGuard Systems is a Melbourne-based cyber security company that specialises in identity and access management technology.
The company’s technology integrates military grade security and encryption with banking grade ‘black-box’ technology, with their products being sold to governments and private companies across the world.
The South Australian Government will contribute $6.2 million to support the job creation project via the Economic Investment Fund.
Established just two years ago, Investment Attraction SA has secured 24 projects, worth $2.30 billion in capital investment. The result of this work is the creation of 7,489 jobs and has contributed to the State’s latest trend unemployment rate of 5.6 per cent.
“The State Government is striding ahead, continuing to create job opportunities for South Australians in emerging and high tech industries,” said South Australian Premier Jay Weatherill.
“Job creation is the number one priority for the State Government. While other political parties are protecting the interests of the banks and big business, we are working to attract investments in South Australia that create immediate job opportunities and promise future growth in our priority sectors.
“With our pool of skilled former automotive workers, South Australia is perfectly positioned to fulfil the advanced technology manufacturing required by cyber security companies.
“We’ve seen a number of recent investments in the cyber security area such as NEC and the Government’s support for a Cyber Security Growth node in South Australia.”
VeroGuard’s secure digital platform features an identity layer for the internet not previously available. This is a revolution in securing online applications and identities for both industry and citizens.
The company is building a research relationship with the University of Adelaide including curriculum to ensure a pipeline of graduates for ongoing employment.
“South Australia has been widely promoted as encouraging for business investment, leading technology solutions, and provides the population density and workforce to enable the high-tech manufacturing and cyber knowledge required,” said VeroGuard chairman Daniel Elbaum.
“This concerted effort by the State Government and University of Adelaide has made it easy to decide to choose South Australia as our global production and support centre.”
“This could be the tip of the iceberg for jobs with large global companies already in discussion with Veroguard Systems also. It’s great to kick off here in South Australia unlike so many other Australian companies who have had to go offshore first to gain backing for their technology.”