The Strategy provides a long-term framework to strengthen Tasmania’s economy by improving investment, productivity, workforce capability and regional opportunity. It coordinates Government effort across key economic levers to support sustainable growth and improved living standards.

This Strategy emphasises coordination and system alignment, rather than standalone initiatives. It brings together investment, workforce, infrastructure and regional development into a single framework focused on measurable outcomes and delivery.

Success would include:

• Higher levels of private investment
• Improved productivity and wages
• Stronger workforce participation
• More balanced regional growth
• Greater economic resilience and diversification

Through detailed action plans that outline:

• Specific initiatives
• Responsibilities
• Timeframes
• Performance measures

Using key indicators such as:

• Investment levels
• Productivity
• Workforce participation
• Regional growth

Progress will be reported publicly.

The Strategy will now be released for consultation. Businesses, communities and stakeholders will have the opportunity to provide feedback through targeted engagement and online channels.

This feedback will help shape the final Strategy and inform how it is implemented.

A final version of the Strategy will be completed by the end of 2026 following consultation. Implementation will occur over a number of years through structured planning and ongoing reform.

The Strategy emphasises:

• Clear accountability
• Whole-of-government coordination
• Ongoing monitoring and reporting
• Alignment with legislative and institutional reforms.

The Strategy focuses on areas where Tasmania has natural advantages, research, strengths and market opportunities and supports the Strategy’s goals. This could be across a range of industry sectors such as advanced technology, agtech and clean energy but is intended to be flexible enough to respond to changing economic conditions.

By strengthening connections between research, industry and investors, and improving commercialisation pathways. The goal is to convert ideas into products, businesses and exports.

The Strategy balances focus and flexibility – concentrating effort where Tasmania can compete, while remaining open to new opportunities as they emerge. Good investment that delivers long term benefits, growth in quality and sustainable jobs and is in line Government priorities can emerge in a range of sectors. Picking winners risks closing off these opportunities.

Productivity is the most direct driver of higher wages, better jobs and improved living standards. Closing Tasmania’s productivity gap is essential for long-term economic success.

Digital tools, AI and automation are central to improving efficiency across sectors. The Strategy focuses on helping businesses adopt these technologies safely and effectively. This will focus on value adding and support workers not necessarily replacing them.

Through practical initiatives such as:

• Digital skills and training
• Technology adoption programs
• Improved access to data and tools

These are particularly important for SMEs with limited internal capability.

The Strategy adopts a place-based approach, recognising that each region has unique strengths and needs. It aligns local economic opportunities with infrastructure, workforce and land-use planning.

Housing is a key enabler of workforce availability and investment. Without adequate housing, regions cannot attract or retain the workforce needed to support growth. Thew Strategy has a focus on how government can work with others to improve the coordination and planning using consistent data to ensure informed decision making.

The Strategy supports stronger community benefit frameworks, ensuring local communities shared in the economic benefits of major projects.

Workforce constraints are one of the biggest limits on economic growth. Without enough people with the right skills, Tasmania cannot fully realise investment and productivity opportunities.

Through a combination of:

• Increasing participation
• Improving skills and training pathways
• Attracting and retaining skilled migrants
• Supporting workforce transitions.

It aims to improve:

• Career pathways
• Education-to-education transitions
• Access to diverse and high-quality jobs.

Helping young people build futures in Tasmania.

Infrastructure enables investment, productivity and regional development. It determines where growth can occur and how efficiently business can operate.

Tasmania has significant potential in renewal energy and low-emissions production, positioning it to attract energy-inclusive industries and supports the national energy transition.

Through strategic energy planning that balances:

• Local industry needs
• Export opportunities
• Long-term economic and environmental goals.