Cardiff-based mining equipment business HMS Equipment has secured funding from the NSW Liberal National Government that will enable part of a $740,000 business expansion project which is set to create up to 20 new jobs in the region, Parliamentary Secretary for the Hunter Scot MacDonald MLC announced today.
Mr MacDonald said the funding from Government-backed private-sector led Jobs for NSW, would help HMS Equipment develop a mini loader for the bulk commodity and mining industry.
“The mini loader developed by HMS Equipment improves worker safety and reduces lost production while bulk commodity conveyors are off line to recover spillages,” Mr Macdonald said.
“This fantastic financial boost for HMS Equipment will provide working capital to hire new staff and to purchase inventory needed to assemble several new machines and support a growing sales funnel into long-term lease and sale markets in Australia.
“Jobs for NSW is helping to drive efforts to significantly grow regional centres in the Hunter and elsewhere to become accelerators for jobs growth and investment in the future.”
Deputy Premier and Minister for Regional NSW John Barilaro 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.
“Jobs for NSW is providing funding for solid businesses that traditional lenders are unable to assist for a variety of reasons. This may be because they have less than three years trading history or inadequate security for a loan.
“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.
More information: visit www.jobsfornsw.com.au