E-News | May 2018 Edition

The revitalization of a new era of collaborative, innovative, economic development in the North and North East of Tasmania!

Update on the Regional Economic Development Plan – (REDP)

The REDP is due to be completed by the end of 2018 – and a lot of work is underway to meet that deadline.

      – Consultation Phase
As part of the consultation phase of the REDP, NTDC continually aims to engage with as many businesses (one-on-one) in the region as possible, with approx. 50% out of a target of 100 already consulted.

The targeted businesses are those areas especially invested on our high growth sectors such as: Food, Forestry, Manufacturing, other Value-adding Agriculture, Tourism, and new Digital entrepreneurs, with the intention to learn how we can support businesses to expand and remove identified barriers.

If you would like to opportunity to meet with NTDC we encourage you to contact the office via the ‘contact us‘ page on our new website or contact Maree Tetlow, CEO, directly via maree@ntdc.org.au or 0408 825 060.

 

     

        (A consultation meeting with Pure Food Eggs, Kings Meadows and a site visit to Tasmanian Flour Mills)

 

   – Key Directions Report

The final draft Key Directions Report (KDR) is expected to be completed this week, 31st May, including ‘future states’ scenarios to achieve regional economic growth targets with endorsement expected in the coming weeks.

To achieve the regional economic growth targets for the next decade set by our Council Members (50% GRP growth, 8000 net jobs growth and $100/week increase in average take home pay) the KDR indicate the following changes need to be delivered over the decade:  

  • Increase net exports by between $1B-$1.75B per annum (an increase of at least 25%) from our Business as Usual case (which includes all the projects we know that are currently planned.
  • Increase our working population by at least 6,000 (our current population trend is a decline in our working population – see the table below):  
  • Increasing annual investment in business plant and equipment and public infrastructure by between $150M-$250M per annum above current levels  
  • Increasing the focus on place making outcomes to ensure that the region attracts and retains the entrepreneurs and skilled working age population required to grow our economy.  

Whilst challenging, the National Institute of Economics and Industry Research (NIEIR) have indicated these changes are not insurmountable – but will require unified, dynamic regional leadership and governance.  

The final component of the KDR involves further defining our industry sectors of the future – considering the sectors where we are nationally competitive, and in what year we are likely to grow our economy by 5%per annum (assuming we can leverage all opportunities available).

     – Regional Modelling 

The Regional Modelling tool for Northern Tasmania has received excellent feedback so far from users. Just a reminder to try the user friendly data tool at  https://economy.id.com.au/northern-tasmania.

Northern Tasmania Food Network

In November of 2017 the renowned world expert on clusters, IFowcs-Willams, author of the cluster development handbook, visited Tasmania to share his knowledge on an effective model for economic development through a number of workshops in the North.

As a result NTDC joined forces with Regional Development Australia Tasmania (RDA Tas), to discuss with food enterprises the relevance and interest in developing a food network. The purpose of a cluster is for businesses willing to collaborate where appropriate in areas that grow markets, innovation and economic performances.

The initial interest has been very positive as NTDC and RDA Tas meet with businesses, government and the university stakeholders, with a common perception being it seems worth while to pursue a Northern Tasmania Food Network. The current plan is to continue meeting with food enterprises and related service organisations and make deliberate effort to pursue clustering interventions based on that feedback.

To get involved or to find out more, contact either:
Maree Tetlow, NTDC – maree@ntdc.org.au or 0408 825 060
Kevin Turner, RDA Tas – kevin.turner@rdatasmania.org.au or 0419 395 178

 

NTDC’s Focus

Facilitation and Coordination is one of NTDC’s main focuses and we aim to continually link businesses with growth potential to government programs and facilitate the skill development requirements across all priority sectors, to support projects aligned to our regional strengths wherever possible to progress and succeed. NTDC’s role is to contribute and encourage a unified regional leadership, through co-operation and co-production with our Members, Stakeholders and Government agencies.

To get in touch with NTDC with a potential project click here to use our new Project Assessment Tool on our website.

To get in touch or find out what business support is available to you click here to access and use the Business Support in Northern Tasmania page within the NTDC website.

Events 

– Income diversification workshop
Wednesday 6th June 2018 – 3:30pm – 6pm at the Tramshed Function Centre, 8-10 Invermay Road Invermay.
Are you a farmer or agribusiness looking to diversify your income? The Department of State Growth is delivering an interactive workshop which will introduce participants to the Business Model Canvas, a simple framework for assessing and developing business ideas.
Register here.

– Food & Agribusiness Market Growth workshop
Wednesday 6th June 2018 – 9am – 2pm at the Tramshed Function Centre, 8-10 Invermay Road Invermay.
The Dept. of State Growth is running another interactive workshop aimed at small and medium sized food producers and agribusinesses wanting to understand the critical success factors in expanding interstate.
Register here.

– Tasmanian Freight Equalisation Scheme Seminar Series
Wednesday 20th June 2018 – 7:15am – 8:30am (Breakfast session) – Register here.
– 12:30pm – 1:45pm (Lunch session) – Register here.
Location: Clarion Hotel City Park Grand, 22 Tamar Street Launceston, 7250
The Dept. of State Growth is pleased to offer Tasmanian businesses the opportunity to attend free seminars to help you understand the Tasmanian Freight Equalisation Scheme.