Northern Tasmanian Development Corporation is the regional economic development agency for Tasmania’s North and North-East – owned by seven councils in the region and governed by an independent industry sector-based board.
Our role is to significantly improve our regional economy, jobs, and take-home pay, by working collaboratively with key stakeholders.
A major requirement of the City Deal was for NTDC to produce a Regional Economic Development Plan to ensure the benefits were leveraged for the whole region. This is due by the end of this year.
We have examined the region’s population and investment challenges already. This week we consider industries that are likely to be the ‘big movers’ over the next decade, and related jobs, so as a region we are able to maximise our potential and meet our best case scenario.
To achieve the best case by 2031 we need to:
- Increase our working age population by 10,000 people
- Increase our private and public investment by 40 per cent
- Increase our exports by 25 per cent.
Of our established industries, the best performing sectors likely to deliver the most wealth to our economy to 2031 are agriculture, manufacturing, construction, food and beverage manufacturing and forestry.
These industries will drive other service sectors and retailing.
With new technology and productivity improvements these industries will grow in value and benefit our economy, but not necessarily provide the same proportion of new jobs. The good news is that those areas that see the implementation of new technologies will also require higher skilled workers, and therefore generally offer better paid jobs.
Key opportunities for jobs growth will be in these sectors:
- Education (particularly preschool and school education sectors)
- Health and community services (particularly medical and health services, hospitals, social assistance and residential care)
- Food and beverage service
- Professional, scientific and technical services
- Public administration.
Our forecasting does not include specific roles, however jobseekers need to know how to use, apply and drive technology.
Another aspect outside our forecast is new industries in the future. Some areas in the early stages of development include: social enterprise start-ups, technology start-ups, potential health-related manufacturing, defence-related manufacturing and alternative and renewable energies.
Many of Tasmania’s businesses are small to medium enterprises, so the question is how can we encourage more businesses to expand and export out of the region?
NTDC recommends the development of Collaborative Business Networks, which support business and industry networks to build relationships and trust, that can evolve into the sharing of knowledge, skills, contacts, equipment and freight arrangements.
Many Tasmanian products and services are in high demand – and many exporters have trouble finding the right ‘niche’ market areas to match the smaller quantities we can supply. It is important that our businesses work together to maximise the value of their products and services. New Zealand do a great job at this and we could learn from their approach!
NTDC, with Regional Development Australia Tasmania, will establish a food network and Launceston Chamber of Commerce, with NTDC’s support, established the Community and Health Industry Committee.
These networks are considering future skills needs, new technology applications and business opportunities to expand and export.
Suggest new industries in Northern Tasmania or ideas around exporting via email to email@example.com or on our Facebook page.
- Maree Tetlow is the executive officer of the Northern Tasmanian Development Corporation.
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