Northern Tasmania will need to secure an additional $500 million per annum in investment to achieve projected growth in the economy.
That is the key message from a new report commissioned by the Northern Tasmania Development Corporation, developed as part of initiatives under Launceston’s City Deal.
The NTDC has been tasked to formulate a regional development strategy for Northern Tasmania as part of the City Deal and has been working collaboratively with key stakeholders.
As part of its work to meet those targets is the development of an investment taskforce.
Ex-banker Gregg Bott will chair the taskforce, which will help to coordinate industry and funding opportunities.
“We envisage the investment taskforce will help to connect business people with great ideas and expansion plants to potential funding sources,” Mr Bott said.
He said the taskforce could help to assist businesses on how they could secure finance into the future.
“This may be anything from recommending changes to their business case, or to consider more innovative options such as crowd funding or venture capital funding,” Mr Bott said.
The current members of the innovation taskforce include bankers, people with networks into the investor community, a venture capital firm, a representative of RDA Tasmania, and the Office of the Coordinator General.
NTDC has met with more than 80 progressive businesses and most of the key government agencies and other stakeholders to learn more about the export and business opportunities and barriers to growth.
For more information, or to get assistance from the taskforce, contact NTDC.