One of the clearest signs of growing confidence is when businesses make significant investments.
Today’s announcement that Launceston will soon see one of the State’s biggest ever solar power plants is a clear sign that Tasmanian businesses are confident, they’re looking for opportunities to grow and they are investing in infrastructure.
The flow on benefits of this investment are significant. It will create around 14 jobs during design and construction and will provide significant cost savings to business tenants that choose to lease space at the old wool store site in Merino Street. Nest Energy’s project will also encourage other businesses to be innovative and creative.
This is just the latest major project in Launceston to point towards increasing confidence and economic growth and follows the commencement of site works at CH Smith, the announcement of hotel developments in the city and the landmark UTas development at Inveresk.
We are seeing report after report point to positive signs in the economy. Sensis recently ranked the Hodgman Government as the most popular government in the country with small businesses. MyState’s economic update said that Tasmania’s economy had “reached new heights”, Deloitte Access Economics said that retail and tourism were driving economic growth, the TCCI said that confidence is rebounding right around the State and CommSec confirmed that Tasmania’s economic performance is improving, ranking Tasmania fourth compared to other states and territories.
There is still more to do, especially in the north and that’s why the Government is rolling out a Northern Economic Stimulus package to unlock a further $100 million worth of investment.