IT IS now about a year since Mayor Joanna Gash announced 100 jobs and an $80 million investment by an algae company for South Nowra. We now have it confirmed (SCR, December 7) that this is unlikely to occur.
Subscribe now for unlimited access.
$0/
(min cost $0)
or signup to continue reading
Having criticised the announcement at the time as lacking substance, I would suggest that this scale of operations was never likely to eventuate.
Were the Mayor’s claims to have credibility, the listed company would have been required to inform the ASX of such a significant capital raising. This never happened.
A further investigation of the company showed a low level of net assets that would never allow for the sort of investment being heralded by the Mayor. Indeed, most of their revenue seemed to be derived from taxpayer funded R&D grants.
We keep hearing the rhetoric from the Mayor and her councillors that the Shoalhaven is “open for business”, implying that at some point in the past it was closed. Our city cannot afford for our investment and employment prospects to be the political plaything of the Mayor.
Please, Mayor Gash, treat the Shoalhaven with respect. These hollow promises on jobs are seen for what they are and do nothing to inspire confidence in our economic future.
Cr A. Guile
Berry.
