Published Friday, 04 January, 2008 at 12:00 AM
Minister for Tourism, Regional Development and Industry
The Honourable Desley Boyle
Gold Coast manufacturer to lead local industry into exporting
Gold Coast manufacturer International Health Investments Ltd is set to help small local nutraceutical firms tap into the lucrative international export market.
Regional Development and Industry Minister Desley Boyle and Member for Gaven Phil Gray today announced $250,000 to help the Helensvale business obtain accreditation and export expertise to build a vibrant nutraceuticals sector on the Gold Coast.
“The project is one of the first to be funded under the Bligh Government’s new Business and Industry Transformation Incentives,” Ms Boyle said.
“These grants are for projects that will have benefits right across the industry – as well as for the business receiving the grant. This project will certainly do that.
“International Health Investments will use the funding to develop the expertise to market neutraceuticals overseas and to help other local businesses push their products internationally,” Ms Boyle said.
Mr Gray said: “There is a real opportunity for the Gold Coast to build on the reputation already established by firms like International Health Investments and grow a strong international presence for our homegrown health and nutritional lifestyle products.
“I’m aware there are already half a dozen firms who are keen to sign up with International Health Investments and get their products moving.”
International Health Investments intends to set up a manufacturing plant at Burleigh Heads and obtain both Good Manufacturing Practice and Therapeutic Goods Administration accreditation for the facility.
The incentive will also enable the appointment of a full-time Export Manufacturing Manager and Export Sales Manager.
“This new facility will ensure all products meet the high standards for the Australian market and also the specific requirements of different export markets – particularly the lucrative US market,” Mr Gray said.
“Firms will be able to contract to International Health Investments for advice on meeting the standards for export and to gain access to markets and distribution networks previously out of their reach,” he said.
International Health Investments’ CEO George Papanikolaou said many smaller firms like his own had found it difficult in the past to break into new markets, with most manufacturers set up to do large product runs.
“Apart from the upfront expense of doing a large run, many nutraceutical products have a limited shelf life which means they may have to be discarded before they find a strong following – it can financially stretch companies too far,” he said.
“We’ll be able to offer them the latest country-specific advice in relation to distribution and packaging, helping with pitching their products and the ability to manufacture small test runs to give their product the best chance possible of success.”
International Health Investments has grown in just five years to become one of Australia’s largest specialist nutrition companies. It manufactures and markets a number of well-known brands including Redbak, LadyBird, Carb-Less, Performaxx and Natural Health Supplements. The company currently has 26 full-time equivalent staff.
The company was one of four recipients to share in more than $800,000 under the Government’s new Business and Industry Transformation Incentive (BITI) scheme.
Applications for funding under the next round of the Business and Industry Transformation Incentive scheme close on 21 February. Grants from $30,000 to $250,000 are available. More information is available at: www.industry.qld.gov.au/incentives.
Ends
Media contacts:
Minister Boyle: 3224 2007, Mr Gray: 5502 1411
Regional Development and Industry Minister Desley Boyle and Member for Gaven Phil Gray today announced $250,000 to help the Helensvale business obtain accreditation and export expertise to build a vibrant nutraceuticals sector on the Gold Coast.
“The project is one of the first to be funded under the Bligh Government’s new Business and Industry Transformation Incentives,” Ms Boyle said.
“These grants are for projects that will have benefits right across the industry – as well as for the business receiving the grant. This project will certainly do that.
“International Health Investments will use the funding to develop the expertise to market neutraceuticals overseas and to help other local businesses push their products internationally,” Ms Boyle said.
Mr Gray said: “There is a real opportunity for the Gold Coast to build on the reputation already established by firms like International Health Investments and grow a strong international presence for our homegrown health and nutritional lifestyle products.
“I’m aware there are already half a dozen firms who are keen to sign up with International Health Investments and get their products moving.”
International Health Investments intends to set up a manufacturing plant at Burleigh Heads and obtain both Good Manufacturing Practice and Therapeutic Goods Administration accreditation for the facility.
The incentive will also enable the appointment of a full-time Export Manufacturing Manager and Export Sales Manager.
“This new facility will ensure all products meet the high standards for the Australian market and also the specific requirements of different export markets – particularly the lucrative US market,” Mr Gray said.
“Firms will be able to contract to International Health Investments for advice on meeting the standards for export and to gain access to markets and distribution networks previously out of their reach,” he said.
International Health Investments’ CEO George Papanikolaou said many smaller firms like his own had found it difficult in the past to break into new markets, with most manufacturers set up to do large product runs.
“Apart from the upfront expense of doing a large run, many nutraceutical products have a limited shelf life which means they may have to be discarded before they find a strong following – it can financially stretch companies too far,” he said.
“We’ll be able to offer them the latest country-specific advice in relation to distribution and packaging, helping with pitching their products and the ability to manufacture small test runs to give their product the best chance possible of success.”
International Health Investments has grown in just five years to become one of Australia’s largest specialist nutrition companies. It manufactures and markets a number of well-known brands including Redbak, LadyBird, Carb-Less, Performaxx and Natural Health Supplements. The company currently has 26 full-time equivalent staff.
The company was one of four recipients to share in more than $800,000 under the Government’s new Business and Industry Transformation Incentive (BITI) scheme.
Applications for funding under the next round of the Business and Industry Transformation Incentive scheme close on 21 February. Grants from $30,000 to $250,000 are available. More information is available at: www.industry.qld.gov.au/incentives.
Ends
Media contacts:
Minister Boyle: 3224 2007, Mr Gray: 5502 1411