The latest Australian Bureau of Statistics Private New Capital Expenditure data, released today, shows private investment in Tasmania grew by 12.9 per cent over the year to the March 2019 quarter, in real trend terms.
This was the second highest rate of growth in the nation, and in stark contrast to the result nationally, which saw private investment actually decline nearly 1% over the same period.
Today’s excellent results were driven by nation leading growth in building and structure investment, which grew by 47.4 per cent over the year.
Results like today’s demonstrate why Tasmanian businesses are some of the most confident in the nation, and when businesses are confident they invest and create local jobs. This is good news for our building and construction sectors.
These results follow the 2019-20 State Budget, handed down last week, which delivers on our Plan to grow Tasmania’s economy, support local businesses, create more jobs and invest record amounts into infrastructure, health and education.