The South Australian government will establish a $100 million Economic Recovery Fund to support business development and grow jobs.
The fund, announced on Thursday ahead of next week's state budget, will support several rounds of grants over the next four years.
It will also allow the government to make strategic investments to help bring national and international companies to SA.
"The Economic Recovery Fund will provide an opportunity for SA-based businesses seeking to create jobs, while also supporting development opportunities in our state," Premier Peter Malinauskas said.
"We're backing SA businesses to help drive our state's economic recovery after the COVID-19 pandemic."
The government will also spend an extra $4.2 million to establish InvestSA, which will be charged with selling South Australia's credentials nationally and internationally.
Treasurer Stephen Mullighan said InvestSA would ensure South Australia was actively seeking investment from interstate and overseas.
Mr Mullighan will hand down the new Labor government's first budget on June 2.
