Qld’s New Industry Development Strategy for regions

Headshot of Queensland Premier Annastacia Palaszczuk (New Industry Development Strategy)
Queensland Premier Annastacia Palaszczuk

Queensland is set to capitalise on a new wave of economic growth, with Deputy Premier Steven Miles launching the Palaszczuk Government’s Queensland New Industry Development Strategy (QNIDS) during his address to the Committee for Economic Development of Australia on May 18.

QNIDS will help businesses tap into manufacturing opportunities to build the infrastructure and products the world needs, to shift to renewables.

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The strategy targets six key areas:

  1. Renewable energy manufacturing and infrastructure
  2. Critical minerals processing, manufacturing and product development
  3. Battery industry development
  4. Green hydrogen
  5. The circular economy, including resource recovery
  6. and the bioeconomy including biofuels and sustainable aviation fuel

Under the strategy, a state-wide Local Economic Opportunities Network will be established, so Queensland communities can identify opportunities on the ground.

The state government will also deploy the $5.84 billion Queensland Jobs Fund and tap into the catalyst Regional Economic Futures Fund, to deliver initiatives that help regional economic growth, especially in communities impacted by the transition to a low-emissions economy (North West Minerals Province—and the economic corridor through to Townsville—Greater Whitsunday, Central Queensland, Darling Downs South-West and South Burnett regions).

Queensland Deputy Premier Steven Miles said, “This marks our commitment to making Queensland the state of opportunity in industries that will be in demand as we shift to a decarbonised global economy.

“There is an immediate opportunity to expand our footprint in global markets of high-value supply chains involved in this transition—and we’re seizing it.

“We are positioned strongly to leverage our unique strengths, including a wealth of natural resources; world-class ports; skilled workforce; and long-standing trading partnerships.

“Our Queensland Energy and Jobs Plan sets a strong foundation for a clean energy future that promotes innovation, more jobs, sustainable communities and economic growth.

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“With this New Industry Development Strategy, we are taking the next steps to strengthen Queensland’s capabilities to manufacture the equipment needed to make the shift to decarbonisation and build whole new industries to support that transition.”

View the Queensland New Industry Development Strategy here

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