Nov 19, 2019

Strategy to lift North West’s economy

Strategy to lift North West’s economy

The State Government is putting $33.3 million behind a plan to boost the North West Queensland economy.

The North West Queensland Economic Diversification Strategy Implementation Plan 2019–2021 sets out actions to deliver 13 diversification initiatives.

State Development Minister Cameron Dick said it had been developed in consultation with local stakeholders and the community.

“This government is delivering for North West Queensland,” he said.

“Together, we have done the necessary work to develop a blueprint and a strategy to understand, investigate and prioritise initiatives that will diversify and grow the economy. This implementation plan is the culmination of that strategic work.

“Importantly, it is backed by significant funding of $33.3 million: $5 million through the blueprint, plus a further $28.3 million of new funding to deliver key initiatives that will boost jobs and prosperity for the region.”

Mr Dick said the funding included $14.5 million for Australia’s first commercial drone-testing facility in Cloncurry.

The implementation plan also includes a ‘new economy minerals’ package, allocating $13.8 million to encourage exploration to find new deposits for the minerals needed for advanced electronics and renewable technologies, such as cobalt and rare earth minerals.

“Alongside this, our government is continuing to grow the region with the $110 million Supply Chain Strategy to improve freight handling and efficiency on the Mount Isa to Townsville rail line,” Mr Dick said.

“This investment provides $80 million to reduce rail access charges over four years and $30 million to support construction of Port of Townsville’s new container terminal.”

Mr Dick said the implementation plan released today details the roll-out of initiatives over the next two years.

“We are setting out the economic diversification of the region to ensure continued growth and momentum is maintained.”

“We have also identified additional economic growth sectors for North West Queensland – agriculture, tourism, and business and industry,” he said.

They include:

  • agriculture projects in fodder production, irrigated cropping trials, identification of opportunities for common-user facilities and the development of a global investment attraction program
  • accelerating local government tourism projects to an investment-ready stage
  • delivery of new tourism packages in partnership with industry and support local itinerary development
  • delivery of local action plans that support projects identified by North West communities.

More at www.dsdmip.qld.gov.au/NWMP