Super Funds Invest Over $15 Million in Tassie
24/02/2005
Investment in Tasmania by a group including local Superannuation Funds is now over $15 million. As a founding member of the group, Tasplan Super is making an important contribution to the Tasmanian economy. By investing in local businesses, it is helping to create jobs and safeguard our quality of life. Through a pooled development fund called First Tasmania Investment Limited ( FTIL ) Tasplan has committed almost $7 million to investment in the State. Importantly, this local investment has been in the form of venture capital for a number of small to medium-sized listed and unlisted Tasmanian businesses. Industry sectors into which funds have been invested include tourism, aquaculture, wine-growing, technology and agri-business. Some of the businesses to receive Tasplan support include Strahan Village, Meadowbank Winery, Turnaround Solutions, Peppermint Bay, Diamond Bay Resort and 'Barking Spider' - a technology company. Despite having members located throughout the country ( 30,000 in NSW alone ) , Cassidy admits unashamedly to a local bias and says Tasplan will continue its investment in Tasmania.
Cassidy said that Tasplan Directors were pleased to be playing a small part in the growth of an increasing number of successful local businesses.
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