THE South Australian Government last week welcomed an announcement by Masters Home Improvement that they will build 11 new stores in Adelaide over the next six years, with construction of the first metropolitan stores already underway at Adelaide Airport and Parafield Airport.
The expansion means an investment of up to $500 million in the South Australian economy and the creation of up to 4,500 jobs. Across Australia, Masters has opened 45 stores in just over two years, representing an investment of over $1.5 billion and the creation of more than 17,000 jobs nationally.
Treasurer Tom Koutsantonis said the new stores will provide customers with more choice, as well as provide opportunities for local contractors and ongoing employment for South Australians.
"Across Adelaide, the 11 new Masters Home Improvement stores will create 3000 direct and indirect jobs during construction and up to 1500 ongoing retail positions," Mr Koutsantonis said.
The store at Adelaide Airport will open prior to Christmas and the Parafield Airport store soon after. The two sites alone are expected to create up to 800 construction and ongoing retail jobs.
Masters Home Improvement, a joint venture between Woolworths Limited and US Home Improvement retailer Lowes, opened its first South Australian store in Mount Gambier in August 2012.
The announcement follows the start of construction earlier this month on the new $65 million Brickworks Marketplace development at Torrensville, which will feature a Woolworths, Big W and specialty shops, and create more than 800 jobs.