A Tasmanian academic has welcomed a new ministry in the Gutwein government despite it coming with little funding.
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Professor of political science at the University of Tasmania, Richard Eccleston said the strategic growth portfolio represented a "different approach" that would benefit the regions.
"It is about building capacity and capability, and focusing on planning and growth and investment opportunities," he said.
"It comes from concern around the world that trickle down economics don't work for the regions."
In last year's state budget, funding for strategic growth initiatives was just $6 million across the forward estimates.
Strategic Growth Minister Sarah Courtney, however, is excited about her new portfolio which she says will sit across the whole of government.
"Elevating it into a whole portfolio means that it elevates the status and it is my expectation that I'll be dealing with secretaries and ministers from all portfolios to make sure that we've got a joined up approach," Ms Courtney said.
"If we look across Tasmania, we see that we have got the strongest economy in Australia, but we know and recognize that there are lots of Tasmanians that don't have the opportunity to benefit from that growing economy.
"This portfolio is about making sure that all people across Tasmania, no matter where you live no matter what your circumstances have the opportunity to benefit from a growing economy.
"And so the portfolio itself, I anticipate will be quite broad in its remit."
Last year the state government announced up to $1 million for projects within the George Town municipality that supports jobs, skills and training, and business and community growth in the region.
The money was part of the government's strategic growth initiative and George Town was the first beneficiary of the plan.
Ms Courtney said it was important to tap into local knowledge about barriers to growth, including access to education and training.
"The important thing is it's not being designed by bureaucrats in Hobart," she said.
"I'm very conscious that communities around Tasmania all have unique challenges and opportunities.
"Some of those are simply due to geography. Some of them are because of transport. Some of those are because of industry. Some of those are because of barriers to education.
"And so that's something that we need to make sure that we're looking at in a really bespoke way."
Ms Courtney said she hoped to announce an advisory board soon to oversee a strategic growth program that would be rolled out.
Professor Eccleston said it was important to understand barriers to growth and plan for the future.
"There will be regional opportunities in pumped hydro, hydrogen, wind and advanced agriculture," he said.
"In George Town for example, you have to re-imagine manufacturing in the 21st century."