Manufacturing News

Supashock expands with SA gov funding, jobs created

More than 60 new jobs will be created as suspension engineering and manufacturing company Supashock transforms and relocates, with help from $2 million in state government funding in South Australia.

Treasurer Tom Koutsantonis said, “Jobs are our number one priority, and that’s why the State Labor Government has provided $2 million in funding to help Supashock expand and create sustainable jobs for South Australians.

“Supashock will re-locate to northern Adelaide – the engine room for innovation and advanced manufacturing in South Australia – to help them expand and to foster collaboration with other, likeminded companies.”

Starting off supplying suspension products for Formula One cars, the company is now a supplier for V8 supercars, commercial vehicles, defence vehicles and medical devices, with employment growth of about 50 per cent each year, for the past four years.

$2 million in State Government funding, through the Future Jobs Fund and the Automotive Supplier Diversification Program, will foster further employment growth by helping Supashock to increase production capacity, and invest in new engineering and manufacturing capabilities.

Supashock has received $1.5 million through the Future Jobs Fund, which was established by the State Government to support the development of globally competitive industries and industrial capabilities within South Australia.

In addition, Supashock has received $500,000 through the Automotive Supplier Diversification Program, which was established to support eligible automotive suppliers to diversify and secure alternative revenue streams for a sustainable future.

 

 

 

Leave a Reply

Send this to a friend