New Industry Action Plans to drive economic growth and innovation in NSW

13 December 2012

Deputy Premier Andrew Stoner with the chairs of the Industry Action Plan groups

The NSW Government has released its response to Industry Action Plans (IAPs) for Manufacturing, Professional Services, International Education & Research and the Digital Economy, providing a roadmap to tackle economic challenges and seize opportunities over the next decade.

Deputy Premier and Minister for Trade and Investment Andrew Stoner said the IAPs are part of the Government's collaborative approach to economic development to drive growth, innovation and productivity in the four key sectors of the State's economy.

"The NSW Government's top priority is to restore economic growth and establish NSW as the first place in Australia to do business," Mr Stoner said.  

"That's why we established expert Industry Taskforces with some of the best and brightest business minds to develop Action Plans for priority sectors and recommend actions for government and industry over the next ten years.

"After significant consultation and review, these Plans have now been finalised, with more than 200 recommendations for action to position these sectors for strong growth, resilience, improved innovation and productivity, global competitiveness, and new investment."

Mr Stoner said an overriding message from the Taskforces was the need for greater coordination across government to make it easier to do business in NSW.

"The Government's response provides a new framework underpinning economic development in our State and immediate actions government and industry will take to address the priority issues highlighted by the Taskforces," he said.

"The centrepiece of the economic development framework is a new $6.7 million program Innovate NSW, which will drive strategic collaboration between SMEs, researchers, major corporations and end-users to develop leading edge products and services in priority areas identified through the Industry Action Plan process."