ABS figures released today show that the Tasmanian economy is surging under the Hodgman Government’s long-term Plan.
State Final Demand figures, a key measure of economic growth, show that Tasmania had the third fastest growing economy of any state.
The economy grew by 3.2 per cent during 2016-17, well above the 2.3 per cent growth recorded in 2015-16.
Driving the growth was strong business and private investment figures. Overall, private investment was up six per cent, with business investment up a staggering 13.2 per cent. What’s clear is that businesses are confident, they are looking to invest and they are looking to expand and when that happens, jobs growth follows.
We’re working with the business sector to help support business confidence and provide the real assistance needed.
But we know that not everyone is benefitting. That’s why as part of our Plan to Build Your Future we have set ambitious targets to continue to grow the economy and create jobs.