Industry action plans, taskforces to grow NSW economy

The New South Wales government will target five sectors through the development of Industry Taskforces and Action Plans as part of its growth strategy.

Deputy Premier Andrew Stoner announced earlier this month that manufacturing, professional services, the digital economy, international education and research and tourism and events would be the first sectors targeted under the initiative.  

Speaking at the Global Access Partners, First 5000’s parent company’s National Economic Review 2011: Australia’s Annual Growth Summit, Stoner also highlighted the newly appointed the chairs of the taskforces.

The manufacturing taskforce will be chaired by Andrew King, Capstone Partners Associate consultantwho has had a 40 year career in manufacturing, including with Rheem/Southcorp, Carrier Airconditioning and Victa. The taskforce will focus on processed food and beverage manufacturing; metal manufacturing; and machinery and equipment manufacturing including biomedical and medical devices, renewable energy technology, and defence equipment.

The Professional Services taskforce to focus on finance and insurance; legal and regulatory services; and engineering services will be led by the Honourable Warwick Smith AM, Chair of ANZ Bank NSW and ACT.

The Digital Economy taskforce will be chaired by Glenn Wightwick, Director of IBM Research and Development Australia. It will focus on digital content and applications; information services and analytics; and smart networks and intelligent technologies.

A Tourism and Events taskforce has already been established to develop a tourism and events strategy to double tourism expenditure to NSW by 2020. It is being chaired by Russell Balding AO, former CEO of Sydney Airport.

The International Education and Research taskforcewill focus on pursuing education export opportunities (from both public and private providers), building international education and research collaborations; and pursuing opportunities for innovation in education delivery. A Chair for this Taskforce is yet to be announced.

Stoner said the NSW Government is establishing Industry Taskforces and developing Industry Action Plans to strengthen key sectors of the State’s economy for the future.

“The NSW Government is committed to working alongside industry to increase the competitiveness of key sectors of the State’s economy as part of our NSW 2021 strategic plan, he said.

“We are establishing 10 year Industry Action Plans that will be developed by Industry Taskforces in partnership with the NSW Government, with support from the Department of Trade and Investment and the NSW Innovation Council.

“The Industry Action Plans and Industry Taskforces will identify what both industry and government can do to strengthen key NSW industries in the face of challenges within Australia and overseas.

Stoner said the final Industry Action Plans, due for release in 2012, will act to outline a vision and 10 year development strategy for each industry, with immediate priorities to be addressed in 2012; Identify drivers for, and barriers to, growth and innovation, including those caused by government practices; Detail a program and mechanisms for government and industry to encourage sector growth, competitiveness and innovation. It will also contain key performance indicators including clear timetables and benchmarks to monitor progress.

Further information and transcripts from Global Access Partners’ National Economic Review 2011: Australia’s Annual Growth Summit.