Anthony Pratt, Chairman of Pratt Industries, has pledged to invest $2 billion and create 5,000 new manufacturing jobs in his native Australia over the next decade.
This follows a similar $2 billion pledge to America he made in front of President Trump in New York City in May.
“The $2 billion investment pledge I’m announcing today will be spent expanding Visy’s manufacturing capabilities throughout Australia including new investments in clean energy,” he said.
“We are one of the most environmentally committed companies and so much of the $2 billion will be spent on technologies that not only create those high-paying manufacturing jobs, but also enhance sustainability and energy security. At the end of the 10-year investment program, Visy’s total investment in Australia will be $8 billion in today’s terms, and we will have created a total of almost 30,000 direct and indirect jobs.”
Australian Prime Minister Malcolm Turnbull welcomed the announcement.
“What a pledge – $2 billion over ten years, 5,000 jobs. I tell you that’s a big commitment. That really moves the needle. That will change lives, thousands of them for the better,” he said.
In addition to this investment pledge, Anthony recently unveiled his plan to give away a $1 billion in philanthropic efforts within his lifetime. The money will be funded from the cash flows of his businesses in Australia and the USA, which support initiatives including the Global Food Forums in both countries.