Investment Attraction Incentive Fund lures four businesses to Logan

FOUR businesses are set to create more than 230 jobs and inject $34.28 million into Logan's economy over the next 12 months.

INCENTIVE: GO1 co-founder Vu Tran moved his business to Logan as part of Logan City Council's Investment Attraction Incentive Fund.

INCENTIVE: GO1 co-founder Vu Tran moved his business to Logan as part of Logan City Council's Investment Attraction Incentive Fund.

Under Logan City Council's Investment Attraction Incentive Fund, businesses including Help Enterprises, Pinnacle Hardware, GO1 and the Plumbing Industry Action Centre have been lured to operate in Logan.

The companies are spread from Beenleigh to Berrinba and have expertise in technology, training, home improvement and social enterprise.

Logan City Council set aside $1.5 million for the Investment Attraction Incentive Fund over three years with $491,000 allocated to the four successful businesses.

The fund is targeted to business in advanced manufacturing, transport and logistics, health, agriculture, innovation, biotechnology and tourism infrastructure.

Director of Strategy and Sustainability David Hansen said the fund was hatched in the 2017-18 budget to attract greater investment in the city.

"To see new businesses coming to Logan and creating jobs is a wonderful thing for the city and part of council's big picture plan to help stimulate the local economy," he said.

"Council created the Investment Attraction Incentive Fund in an effort to attract and support businesses and investments in key strategic industries.

"These investments will stimulate significant economic and community benefits and diversity and add value to the wider regional economy beyond the growth of the business."

GO1 co-founder Vu Tran said the investment fund gave the company an incentive to set up their global headquarters in Underwood.

"GO1 is the world's largest online training marketplace with offices all over the world," he said.

"Logan is a high growth area and well-connected with its transport infrastructure, making it easy for our staff to travel and have a work-life balance that is the envy of many."

Businesses must meet eligibility criteria to benefit from the fund.

They must invest a minimum of $2 million in capital expenditure, create a minimum of 10 full-time jobs, be a current operational business for more than two years and not cause detriment to existing businesses.

Projects must be contestable and have proven commercial viability.

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