Private investment in Tasmania continues to boom according to ABS figures released today.
The June 2018 quarter figures show Private New Capital Expenditure (PNCE) has increased by over 31 per cent in real terms compared to the June quarter last year, making Tasmania the strongest state for private investment growth.
Tasmania also had the fastest growth in PNCE in the June 2018 quarter, at over 6 per cent, bucking the national trend.
The Hodgman Government has restored business confidence in Tasmania and these figures demonstrate the benefits as businesses take advantage of our strong economy and invest, employing more Tasmanians as a result.
The figures show strong growth in Equipment, Plant and Machinery, which was 58 per cent higher in the June 2018 quarter compared to the year before, and seven times faster than national growth over the same period.
It confirms our long term plan is working to create jobs, grow the economy and improve the lives of Tasmanians