Tasmania’s asset-rich and varied geography provides a unique location for knowledge-based industries, with a skilled workforce loyal to the islands’ relaxed lifestyle. Booming gourmet food exports continue to grow, while new energy sources are bringing fresh potential for industry. Area: 68,615 sq km Population: 473,600 (2.4%) Capital: Hobart (pop. 190,000) State Final Demand: A$14.90bn* SFD growth: 4.6% Gross State Product: A$11.98bn‡ Credit rating (S&P): AA Employment growth: 0.6% Average weekly earnings: A$628.20 (11/02) Unemployment rate: 9.3% (03/03) Inflation: 3.1%* *=2002, ‡=2001/2. Source: ABS.

Tasmania

Islands of Plenty

Australia’s southernmost state, Tasmania boasts an abundance of natural assets – forests, fisheries and a variety of minerals – neatly packaged on one of the least polluted islands in the world. The island group’s natural beauty is a major tourism draw, described by Travel+Leisure magazine as “the best island in Australia, New Zealand and the South Pacific” and as “the world’s best temperate island” by Condé Nast Traveler.

Yet Tasmania also has a highly competitive business environment. It rates as Australia’s third most open state economy, with exports averaging 20.7% of production over the last three years, behind only the resource-rich Northern Territory and Western Australia. The deep-water ports in each of Tasmania’s four regional population centres make the ‘island state’ exceptionally accessible by sea. The port of Burnie in the north-west is recognised as one of the most efficient in the world.
Doing business in Tasmania can also be much cheaper than in other Australian cities. Tasmania’s loyal, productive and highly skilled employees, affordable accommodation and competitive taxation regimes are essential components of Tasmania’s bottom-line advantage, backed by world-class transport and telecommunications. Such advantages have led to Tasmania’s recognition as a location for contact centres, animation and software development, including a growing e-learning cluster.

Energy to spare
Tasmania’s capacity for industry is also benefiting from three major energy infrastructure projects. The first is Duke Energy International’s A$440m undersea and underground pipeline, bringing natural gas 753km from Victoria across Bass Strait and south to Hobart. The second project, Basslink, is an undersea electricity cable linking the Tasmanian power network to the Australian national electricity grid, again via Victoria. The third is the installation and commissioning of wind-powered generators. Stage one of Hydro Tasmania’s Woolnorth wind farm was officially opened in October 2002 with six 1.75MW wind turbines, the second 54MW Bluff Point stage is under construction, and the company has plans for a 160MW wind farm on the west coast and a further 140MW farm in the north east. Collectively these projects will bring new options to Tasmanian energy users, while enabling Tasmania to become an exporter of clean hydro and wind power.

Natural strengths
Benefiting from geographical isolation, which protects from disease and pests, Tasmania is already recognised for some of the world’s finest food pro-ducts, including nearly 10% of Australia’s vegetable exports and 60% of Australia’s apple exports. It is the only Australian state allowed to export oysters to the United States or strawberries to Japan. Gourmet food and beverages have received international acclaim: King Island Dairy Company received the Champion Cheese award at the 2000 New York International Fancy Food Fair, while Pipers Brook Brut Cuvée has won acclaim as one of the world’s best sparkling wines.

Aquaculture products now challenge the wild fisheries in terms of economic performance, with premium products including rock lobster, farmed Atlantic salmon, trout and Pacific oysters, wild and farmed abalone, and scallops.

For further information contact:
Department of Economic Development
Telephone: +61 3 6233 5888
Fax: +61 3 6233 5800
Email: info@development.tas.gov.au
Website: www.dsd.tas.gov.au