8 July 2026

Felix Ellis, Minister for Business, Industry and Resources

The Tasmanian Government is working to secure the next decade of economic growth with the release of the draft Economic Diversification and Investment Strategy for consultation, setting out a clear plan to grow private investment, lift productivity and strengthen regional economies.

Minister for Business, Industry and Resources, Felix Ellis, said Tasmania has strong foundations, but must be ready to respond to a changing economic environment.

"Tasmania has a lot to be proud of. We have reliable renewable energy, premium food and beverages, innovative advanced manufacturing and a brand recognised around the world," Minister Ellis said.

“Over the past decade, Tasmania's economy has grown by more than a quarter, created a record number of jobs and achieved nation-leading business confidence.

“We must do the work and continue to deliver to ensure the next decade is just as strong."

Global uncertainty, rapid technological change and an ageing population mean we need a clear, practical and disciplined plan.

"This draft Strategy is an important part of delivering our 2030 Strong Plan for Tasmania," Minister Ellis said.

“It’s about backing Tasmania’s strengths, unlocking private investment, lifting productivity and supporting regional opportunity.

“It will help guide where government effort is best directed, how we support investment, reduce barriers and make the best use of finite public resources.”

The draft Strategy sets out a whole of economy framework to guide how the Tasmanian Government identifies, prioritises and supports opportunities for growth.

It focuses on six key priorities:

  • unlocking private investment;
  • accelerating growth and innovation;
  • lifting productivity;
  • activating our regions;
  • growing Tasmania’s workforce capability; and
  • strengthening infrastructure.

Minister Ellis said the draft Strategy sends an important signal to Tasmanian businesses, industry, investors and communities that the Government is focused on the future.

“Our job is to create the right conditions for businesses to invest, grow, employ more Tasmanians and compete with confidence," Minister Ellis said.

“That means faster decisions, clearer priorities, better coordination and a stronger focus on practical outcomes.”

The draft Strategy also positions Tasmania to pursue reforms through the Government’s broader Economic Future Framework, including the proposed Economic Future Act and review of the Tasmanian Development Act 1983.

“Whether it is supporting major employers, backing small business, attracting new investment, or helping regional communities build on their own strengths, this draft Strategy is about making sure Tasmania is powering ahead,” Minister Ellis said.

“Tasmanians are aspirational for our State and we want Tasmanians to help shape our economic future.”

The draft Economic Diversification and Investment Strategy is available at economicstrategy.tas.gov.au.

Consultation is now open and feedback will help shape the final Strategy, expected to be completed by the end of 2026.